Cohu Q2 Revenue Jumps 38% to $149M, Nears Breakeven as AI Demand Drives Recovery
COHU has more than doubled off its 52-week low of $17.795.
Summary
Cohu reported Q2 2026 revenue of $149 million, up 38% year-over-year, and nearly broke even as AI-driven demand boosted results. The convertible notes become convertible in July 2026, and multiple insiders adopted trading plans.
Key Events · Earnings and Guidance · COHU
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Revenue Surges 38%
Driven by strong AI-related computing demand and improving industrial semiconductor markets, Q2 2026 net sales reached $149 million, up from $107.7 million in Q2 2025.
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Near Breakeven vs. Prior Loss
Net loss narrowed to $0.2 million from $16.9 million a year ago, while gross margin expanded to 45.4% from 43.7%, reflecting a favorable product mix and higher volume.
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Convertible Notes Become Convertible
Because the stock price exceeded 130% of the conversion price, the $287.5 million convertible notes will be convertible at the option of holders from July 28, 2026 through September 8, 2026.
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Insiders Adopt 10b5-1 Trading Plans
CEO Luis Muller adopted a plan to sell up to 199,520 shares, and three directors adopted plans covering 3,055 to 15,252 shares each, signaling potential insider selling.
Analysis · COHU · Industrial Applications And Services
Cohu's Q2 results mark a sharp turnaround from last year's loss, with revenue surging 38% to $149 million and gross margins expanding to 45.4%. The company nearly broke even, posting a net loss of just $0.2 million compared to a $16.9 million loss a year ago. Strong demand from AI-related computing applications and higher industrial semiconductor test utilization drove the improvement. However, the filing also reveals that the $287.5 million convertible notes will become convertible starting July 28, 2026, which could create overhang. Additionally, the CEO and several directors adopted 10b5-1 trading plans, signaling potential insider selling ahead.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1498 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, COHU was trading at $57.96 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $17.80 to $74.60. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.