COHU - Cohu slides following Q3 revenue miss downside outlook

Cohu (NASDAQ:COHU) down 3% following its Q3 earnings, where the company missed revenue expectations and guided Q4 revenue below consensus. Q3 revenues were up 49.5% Y/Y to $225.1M, slightly below the consensus of $228M. Adjusted EPS was $0.70, coming in $0.01 ahead of consensus estimates. Total cash and investments at the end of third quarter 2021 were $364.8M. The company also announces $70M share repurchase program. For the fourth quarter, Cohu forecasts revenue of $182-$195M, below the $203.8M consensus. Cohu President and CEO Luis Müller: “Looking ahead, we are encouraged by current estimated test cell utilization of 87% and the expansion of our testers and contactors in power management, display driver, RF mmWave and broader mixed signal applications.” Previously (Oct. 28): Cohu EPS beats by $0.01, misses on revenue. Related: Cohu, Inc. (COHU) CEO Luis Müller on Q3 2021 Results - Earnings Call Transcript.

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Cohu slides following Q3 revenue miss, downside outlook