Why Is COHU INC (COHU) Stock Up Today?

Cohu Inc (COHU) shares surged 11.84% to $51.95 in morning trading after the company released better-than-expected second-quarter 2026 results and raised its outlook for the next quarter. The stock opened with a 23.1% gap up from the prior close and has since pulled back, trading near the session low. The move was driven by strong revenue growth and a beat on non-GAAP earnings per share.

What Happened

Cohu reported second-quarter 2026 non-GAAP earnings per share of $0.26, exceeding the $0.14 estimate by $0.12. Revenue came in at $149 million, beating the $144.079 million estimate by $4.92 million. The company also raised its Q3 2026 sales outlook to $170 million, plus or minus $7 million, and reported a cash balance of $498 million. The SEC 8-K filing on July 30 confirmed the results of operations and included financial statements and exhibits. The Motley Fool highlighted that the company’s HPC pipeline has grown to $850 million, with semiconductor test utilization reaching 80%. Needham also raised its price target for Cohu to $65 and maintained a Buy rating.

What The Data Shows

The stock opened at $57.18 and reached a high of $59.00 before declining to a session low of $50.17. Volume so far is 0.2 million shares, which is 0.1 times the 3-month daily average. Over the last 8 sessions, the stock had fallen 17.3% from $56.15 to $46.45. Recent insider transactions show 9 sales totaling $4.3 million in the last 90 days, with the most recent filing on July 16. No insider purchases have been reported in that period. A congressional trade disclosed on July 1 showed a single sale.

What To Watch

Cohu has not scheduled earnings for the next quarter yet. Investors should monitor the breadth of coverage and any follow-up analyst commentary in the coming days.