Key Highlights

  • Cohu (NASDAQ:COHU) traded at USD 56.40, up 6.13%, in pre-market trading on Thursday, October 29, 2026, after the company's third quarter 2026 results release of Wednesday, October 28, 2026 showed net sales of USD 173.0 million.
  • Net sales rose 37% year over year and about 16% from USD 149.0 million in the second quarter; GAAP Net Income was USD 12.1 million, or USD 0.22 per diluted share, and non-GAAP net income was USD 23.3 million.
  • The company guided fourth quarter net sales to about USD 178 million, plus or minus USD 7 million. It also raised its fiscal 2026 high-performance computing Revenue outlook to approximately USD 120 million, with cash and investments of USD 507.9 million.
  • The quote is a thin pre-market snapshot that can change before the open at 9:30 a.m. ET, and the gain reflects a cyclical equipment Business whose orders depend on semiconductor Capital spending.

The Pre-Market Move and Its Catalyst

Cohu (NASDAQ:COHU), a supplier of test and inspection equipment used by semiconductor manufacturers, traded at USD 56.40, up 6.13%, in a pre-market snapshot on Thursday, October 29, 2026. The catalyst is the company's third quarter 2026 results release of Wednesday, October 28, 2026. It reported net sales of USD 173.0 million, an increase of 37% from the same quarter a year earlier, and set fourth quarter net sales guidance at about USD 178 million, plus or minus USD 7 million. The company also raised its fiscal 2026 revenue outlook for high-performance computing, the market for chips used in data centres and artificial intelligence servers, to approximately USD 120 million. Pre-market quotes are thinly traded and can change before the open at 9:30 a.m. ET.

How the Latest Results Frame the Move

For the third quarter of 2026, Cohu (NASDAQ:COHU) reported GAAP net income of USD 12.1 million, or USD 0.22 per diluted share, and non-GAAP net income of USD 23.3 million, or USD 0.43 per diluted share. The second quarter showed a GAAP net loss of USD 0.2 million and non-GAAP net income of USD 14.1 million, or USD 0.26 per share, on net sales of USD 149.0 million. Gross Margin was 45.5% on a GAAP basis and 45.7% on a non-GAAP basis. Cash and investments stood at USD 507.9 million, and the company repurchased no shares in the quarter. Chief Executive Officer Luis Müller described the results as reflecting broad-based improvement. Simple arithmetic on the published figures puts the guidance midpoint about 3% above third quarter sales, which suggests the improvement is expected to continue at a slower pace.

Risks and What to Watch

The bull reading is that sequential sales growth of about 16%, a non-GAAP profit that rose from USD 0.26 to USD 0.43 per share and a larger high-performance computing contribution point to operating leverage, meaning profit growing faster than sales. The bear reading is that GAAP profit of USD 0.22 per share is far below the non-GAAP figure, and that guidance implies a slower sequential pace than the quarter just reported. Named risks include cyclicality in semiconductor capital spending, concentration among a small number of large chip customers, and a pre-market price that may not persist through the session. Investors should watch the open at 9:30 a.m. ET on Thursday, October 29, 2026, the Form 10-Q for the quarter and the fourth quarter results due after the year end.

Where Things Stand

The answer is that Cohu (NASDAQ:COHU) rose 6.13% before the open because its results of Wednesday, October 28, 2026 combined 37% annual sales growth with fourth quarter guidance of about USD 178 million and a higher high-performance computing outlook. The key number is non-GAAP net income of USD 23.3 million, against USD 14.1 million in the second quarter. The next catalysts are the open at 9:30 a.m. ET on Thursday, October 29, 2026, the quarterly filing and the fourth quarter report. Pre-market prices are snapshots and can change, and this is not Investment advice.