Cohu secures additional orders for HBM inspection systems

POWAY, Calif. - Cohu, Inc. (NASDAQ:COHU), a semiconductor equipment manufacturer with a market capitalization of approximately $997 million, has received new orders for its Neon inspection platform from a leading U.S.-based memory and data storage technology company, according to a press release statement issued Tuesday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 4.88.

The systems will be used for inspection and metrology of high bandwidth memory (HBM) devices, which are key components in high-performance computing and generative artificial intelligence applications.

The Neon platform features a vision system capable of full 6-sided optical inspection and metrology of micro-pillars across HBM devices. The system integrates with factory automation and includes proprietary AI inspection software that utilizes deep learning and neural network-based pattern recognition.

Cohu has shipped its first system configured for HBM4 inspection, which supports next-generation AI accelerators expected in 2026. The company has raised its HBM revenue estimate to $10-11 million for this year.

"We are optimistic about our HBM market prospects for 2026 and beyond, as secular growth in artificial intelligence continues to accelerate," said Luis Müller, Cohu President and CEO.

The HBM market is expected to reach approximately $23 billion this year with a projected compound annual growth rate of 28% through 2030. This growth represents a potential revenue opportunity of more than $100 million for this class of inspection metrology systems, according to the company. While Cohu’s revenue has declined 21.27% over the last twelve months, InvestingPro analysts maintain a bullish outlook with a consensus recommendation of 1.4 (Strong Buy). Subscribers to InvestingPro can access detailed analysis and 5 additional ProTips about Cohu’s financial health and growth prospects.

Cohu supplies test, automation, inspection and metrology products and services to the semiconductor industry. The company maintains a solid balance sheet with more cash than debt, positioning it well for future growth opportunities. For comprehensive insights into Cohu’s financial health and detailed metrics, investors can access the full Pro Research Report, available exclusively on InvestingPro.

In other recent news, Cohu Inc. reported its earnings for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.02, whereas analysts had projected a loss of $0.01. Revenue also exceeded expectations, reaching $107.7 million compared to the anticipated $106 million. Despite these positive earnings results, concerns remain among investors about future market conditions and company guidance. There were no updates regarding mergers or acquisitions involving Cohu. Analyst firms have not recently upgraded or downgraded the company’s stock. These developments provide insight into the current financial performance and investor sentiment surrounding Cohu.

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