Christopher Bohrson, Senior Vice President and Chief Customer Officer at Cohu Inc (NASDAQ:COHU), recently sold 200 shares of the company's common stock. The shares were sold at a price of $24.33 each, amounting to a total transaction value of $4,866. This sale was reported in a filing with the Securities and Exchange Commission dated October 15, 2024.
Following this transaction, Bohrson retains ownership of 129,739 shares in Cohu Inc. This figure includes 74,746 restricted stock units, which will convert to common stock upon meeting certain conditions, such as continued employment and achievement of performance goals.
The transaction was conducted under a 10b5-1 trading plan, which was adopted on May 17, 2024.
In other recent news, Cohu, Inc. secured a significant order for its Diamondx platform from a leading automotive semiconductor manufacturer. The order includes an integrated test cell solution, promising up to 80% reduction in test time and less than half the cost-of-test compared to traditional systems. This development represents Cohu's continued penetration into the semiconductor testing market. In financial news, Cohu reported Q2 revenues of nearly $105 million and anticipates Q3 revenue to be around $95 million with a gross margin of approximately 45%. Despite facing market challenges, Cohu won a customer benchmark award, projecting about $100 million over five years. The company is also anticipating a recovery in the first half of 2025, with the industrial market expected to pick up in Q1 2025. Analysts note strengthening demand in the computing and mobile markets, and Cohu has qualified two new customers for its Krypton product in the automotive and aerospace sectors. These recent developments indicate Cohu's strategic focus on expanding its customer base and product offerings.
InvestingPro Insights
As Christopher Bohrson reduces his stake in Cohu Inc (NASDAQ:COHU), investors may want to consider additional context provided by InvestingPro data and tips. The company's market capitalization stands at $1.19 billion, with the stock trading at a price-to-book ratio of 1.32 as of the last twelve months ending Q2 2024.
InvestingPro Tips highlight that Cohu holds more cash than debt on its balance sheet, which could provide financial flexibility in challenging times. This is particularly relevant given that the company's revenue growth has declined by 32.94% over the last twelve months, with a more pronounced 38.02% drop in the most recent quarter.
The stock's recent performance has been volatile, with InvestingPro data showing a 24.91% price decline over the past three months. This aligns with an InvestingPro Tip indicating that Cohu's stock price movements are quite volatile, which may explain why insiders like Bohrson might adjust their holdings.
Analysts seem cautious about Cohu's near-term prospects, with InvestingPro Tips noting that seven analysts have revised their earnings downwards for the upcoming period. Additionally, analysts anticipate a sales decline in the current year and expect net income to drop.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Cohu Inc, providing a deeper understanding of the company's financial health and market position.
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