COHU - Strong analyst day highlights heavy momentum for this semiconductor testing company Needham says

An analyst day featuring a new target model figures into a strong new report on Cohu (COHU) from Needham, which is giving the stock its biggest price-target increase of the year. A strong pre-announcement of its fourth quarter (ending Dec. 26) indicated the company was expecting record orders driven by RF tester share gains alongside accelerating demand in the automotive segment. The company guided to Q4 revenue of $195M-$200M (up 31% sequentially at the midpoint, and well above month-old guidance for $176M-$192M), and Q1 revenues coming in 5% ahead of the Q4 results. Meanwhile, the analyst day offered a model featuring $940M revenue and $3.60 EPS by 2023 at the earliest - marking 14% compound annual growth in revenue, and 240% EPS growth over 3-5 years. About 60% of the targeted incremental revenue and 60% of the incremental EPS will be delivered next year, Needham says. The company's about to

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Strong analyst day highlights heavy momentum for this semiconductor testing company, Needham says