Cohu Inc Stock Price, News & Analysis

Cohu, a global leader in back-end semiconductor equipment and services (NASDAQ: COHU), has announced participation in several upcoming investor conferences. These include:

• B. Riley Securities Summer Summit on August 19, 2021.
• Needham Virtual 2nd Annual SemiCap and EDA Conference on August 24, 2021.
• Rosenblatt Securities Inaugural Tech Summit on August 25, 2021.
• Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit on August 31 and September 1, 2021.

Presentation materials will be available on their website.

Cohu, a leader in back-end semiconductor equipment, reported a strong fiscal Q2 2021 with net sales of $244.8 million and GAAP income of $95.1 million, translating to $1.92 per share. Year-to-date, sales reached $470.3 million with a GAAP income of $122.7 million.

The recent divestment of its PCB Test business yielded a $75.8 million gain and allowed the company to prepay $100 million of its term loan B debt. Cohu forecasts Q3 2021 sales between $220 million and $235 million.

Cohu, Inc. (NASDAQ: COHU) will announce its second quarter 2021 financial results on July 29, 2021, at 5:00 a.m. Pacific Time. A live conference call and webcast will follow at 5:30 a.m. Pacific Time, open to investors and analysts. Interested parties can join the call using specific dial-in numbers and a passcode. A replay of the teleconference will be available until August 5, 2021, with additional access to the webcast on the company’s website. Cohu is a leader in back-end semiconductor equipment and services.

Cohu, Inc. (NASDAQ: COHU) has prepaid an additional $100 million of its term loan B facility, lowering its outstanding principal to approximately $104 million. This prepayment, funded by proceeds from a business divestment, is expected to save about $0.8 million in interest expenses for Q3 2021. However, Cohu anticipates a non-cash charge of approximately $1.7 million due to accelerated loan origination costs. CEO Luis Müller highlighted the importance of deleveraging, noting a total reduction of approximately $202 million in TLB debt during fiscal 2021.

Cohu, Inc. (NASDAQ: COHU) has successfully completed the sale of its Printed Circuit Board Test Group business to Mycronic AB for $125.4 million. This transaction aligns with a definitive agreement announced earlier. Cohu plans to use the net proceeds, after accounting for transaction costs and taxes, to repay approximately $100 million of its term loan facility, enhancing its financial stability. The press release also includes forward-looking statements cautioning that actual results may differ due to various risks and uncertainties.

Cohu, a global leader in back-end semiconductor equipment and services, will participate in the 13th Annual CEO Summit on June 15, 2021. The event, conducted virtually, features small group meetings aimed at fostering investor relations. Presentation materials will be available on the company’s investor page at www.cohu.com. The CEO Summit is by invitation only, intended for accredited investors and research analysts. Interested attendees must RSVP by June 10, 2021.

Cohu, a leader in back-end semiconductor equipment, has announced its participation in several upcoming investor conferences. The events include the Cowen 49th Annual Technology, Media & Telecom Virtual Conference on June 1, 2021, and the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on June 2, 2021. Additionally, Cohu will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, and at Baird's 2021 Global Consumer, Technology & Services Virtual Conference on June 10, 2021. Presentation materials will be available on their website.

Cohu, Inc. (NASDAQ: COHU) has appointed Yon Yoon Jorden to its Board of Directors, effective immediately. Ms. Jorden is set to serve on the Audit Committee, bringing significant experience as a CFO in public companies across technology, manufacturing, and healthcare. Her notable previous roles include CFO positions at AdvancePCS and Informix Corp. Cohu's Chairperson, James A. Donahue, expressed confidence in Ms. Jorden's financial expertise and leadership, emphasizing her extensive experience in public company governance.

Cohu, Inc. (NASDAQ: COHU) has signed an agreement for Mycronic AB to acquire its Printed Circuit Board Test Group (PTG) for approximately $125 million in cash. With expected net proceeds of $95 to $100 million, Cohu plans to repay principal on its term loan facility post-transaction. The PTG business reported $52.9 million in sales for the last twelve months ending March 27, 2021. The transaction, anticipated to close by June 2021, will allow Cohu to concentrate on semiconductor equipment and services, enhancing PTG's market potential.