Cohu sees Q4 revenue ‘in line with guidance’ of about $137M, consensus $136.0M

In a Q4 pre-announcement yesterday morning, the company CEO Luis Muller stated: “We expect fourth quarter revenue to be within our guidance range; however, estimated equipment utilization dropped another 200 bps to 71% at the end of fourth quarter. Similar to recent announcements from our automotive and industrial semiconductor device customers, Cohu is experiencing softer demand for test and inspection systems in these segments with continued low test cell utilization in consumer, mobility and computing. Recurring revenue remains resilient. We know well the semiconductor cycles and the importance of staying focused on new product development and customer qualifications between upcycles to position the company for the recovery and ramp. Although demand is likely to remain subdued during the first half of the year, our major customers have been forecasting a recovery for the second half of 2024.”