Cohu price target lowered to $34 from $36 at Needham

Needham lowered the firm’s price target on Cohu to $34 from $36 but keeps a Buy rating on the shares. The company reported Q1 in-line with estimates but guided Q2 slightly lower as its management is yet to see any tailwinds, forecasting “flat” results for Cohu for the next couple of quarters, the analyst tells investors in a research note. Needham is also pushing back its expectations of a recovery for the company to 2025 from the second half of 2024.