Cohu downgraded to Hold from Buy at Craig-Hallum

Craig-Hallum analyst Christian Schwab downgraded Cohu to Hold from Buy with an unchanged price target of $35. The company expects its 2023 revenue to be down 10%-15% with stability in auto and industrial being offset by headwinds to mobile, consumer and compute end markets, the analyst tells investors in a research note. However, shares are likely to remain range-bound until there is better visibility indicating a potential growth inflection in 2024.