Cohu Inc

COHU remains in a confirmed Stage 4 decline with a clear sequence of lower highs and lower lows, and price holding below declining short-term EMAs. The medium-term bias is bearish, and with short-term timing neutral, the preferred approach is to trim into rallies toward the declining 9/21 EMA resistance zone. The long-term uptrend remains intact but is currently under tactical pressure.

• ↑Q1 2026 revenue rose 57% YoY to $125.1M on strong orders.
• ↑Recurring revenue made up 60% of sales, stabilizing cash flow.
• ↓Valuation appears stretched versus fundamentals on low earnings yield and book value.