Cohu price target lowered to $33 from $35 at B. Riley

B. Riley lowered the firm’s price target on Cohu (COHU) to $33 from $35 and keeps a Buy rating on the shares. Cohu’s results and 1Q26 guidance were mixed, with EPS impacted by a one-time COGS charge and higher taxes, though Systems and Recurring revenue orders surged 47% and 34%, respectively, the analyst tells investors in a research note. Emerging growth drivers like Neon for HBM are on track, downstream test utilization is gradually increasing, and the company’s high gross margin model supports strong leverage when demand improves, despite CY26 EPS guidance of 52c and CY27 at $1.00, the firm says.