Intrinsic value of Cohu - COHU

Previous Close

$21.83

  Intrinsic Value

$7.58

stock screener

  Rating & Target

str. sell

-65%

Previous close

$21.83

 
Intrinsic value

$7.58

 
Up/down potential

-65%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of COHU stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.44
  23.70
  21.83
  20.15
  18.63
  17.27
  16.04
  14.94
  13.94
  13.05
  12.24
  11.52
  10.87
  10.28
  9.75
  9.28
  8.85
  8.47
  8.12
  7.81
  7.53
  7.27
  7.05
  6.84
  6.66
  6.49
  6.34
  6.21
  6.09
  5.98
  5.88
Revenue, $m
  282
  349
  425
  511
  606
  710
  824
  947
  1,080
  1,220
  1,370
  1,528
  1,694
  1,868
  2,050
  2,240
  2,438
  2,645
  2,860
  3,083
  3,315
  3,556
  3,807
  4,067
  4,338
  4,619
  4,912
  5,217
  5,535
  5,866
  6,211
Variable operating expenses, $m
 
  338
  410
  492
  582
  681
  790
  907
  1,033
  1,167
  1,309
  1,453
  1,611
  1,776
  1,950
  2,131
  2,319
  2,516
  2,720
  2,932
  3,153
  3,382
  3,620
  3,868
  4,126
  4,393
  4,672
  4,962
  5,264
  5,579
  5,907
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  276
  338
  410
  492
  582
  681
  790
  907
  1,033
  1,167
  1,309
  1,453
  1,611
  1,776
  1,950
  2,131
  2,319
  2,516
  2,720
  2,932
  3,153
  3,382
  3,620
  3,868
  4,126
  4,393
  4,672
  4,962
  5,264
  5,579
  5,907
Operating income, $m
  6
  11
  15
  19
  24
  29
  34
  40
  47
  54
  61
  75
  83
  91
  100
  110
  119
  129
  140
  151
  162
  174
  186
  199
  212
  226
  240
  255
  271
  287
  304
EBITDA, $m
  16
  24
  29
  35
  41
  48
  56
  64
  73
  83
  93
  103
  115
  126
  139
  152
  165
  179
  194
  209
  224
  241
  258
  275
  294
  313
  333
  353
  375
  397
  421
Interest expense (income), $m
  0
  0
  1
  2
  3
  4
  6
  7
  9
  11
  13
  15
  17
  19
  22
  24
  27
  30
  33
  35
  39
  42
  45
  49
  52
  56
  60
  64
  68
  72
  77
Earnings before tax, $m
  6
  11
  14
  17
  21
  24
  29
  33
  38
  43
  48
  60
  66
  72
  78
  85
  92
  100
  107
  115
  124
  132
  141
  150
  160
  170
  181
  191
  203
  215
  227
Tax expense, $m
  3
  3
  4
  5
  6
  7
  8
  9
  10
  12
  13
  16
  18
  19
  21
  23
  25
  27
  29
  31
  33
  36
  38
  41
  43
  46
  49
  52
  55
  58
  61
Net income, $m
  3
  8
  10
  12
  15
  18
  21
  24
  28
  31
  35
  44
  48
  53
  57
  62
  67
  73
  78
  84
  90
  97
  103
  110
  117
  124
  132
  140
  148
  157
  166

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  128
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  346
  270
  328
  395
  468
  549
  637
  732
  834
  943
  1,059
  1,181
  1,309
  1,443
  1,584
  1,731
  1,884
  2,044
  2,210
  2,382
  2,562
  2,748
  2,942
  3,143
  3,352
  3,570
  3,796
  4,032
  4,277
  4,533
  4,800
Adjusted assets (=assets-cash), $m
  218
  270
  328
  395
  468
  549
  637
  732
  834
  943
  1,059
  1,181
  1,309
  1,443
  1,584
  1,731
  1,884
  2,044
  2,210
  2,382
  2,562
  2,748
  2,942
  3,143
  3,352
  3,570
  3,796
  4,032
  4,277
  4,533
  4,800
Revenue / Adjusted assets
  1.294
  1.293
  1.296
  1.294
  1.295
  1.293
  1.294
  1.294
  1.295
  1.294
  1.294
  1.294
  1.294
  1.295
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
  1.294
Average production assets, $m
  53
  66
  80
  96
  114
  134
  155
  178
  203
  229
  258
  287
  318
  351
  385
  421
  458
  497
  538
  580
  623
  669
  716
  765
  816
  868
  924
  981
  1,041
  1,103
  1,168
Working capital, $m
  176
  59
  72
  87
  103
  121
  140
  161
  184
  207
  233
  260
  288
  318
  349
  381
  415
  450
  486
  524
  564
  605
  647
  691
  737
  785
  835
  887
  941
  997
  1,056
Total debt, $m
  0
  26
  56
  90
  127
  168
  213
  262
  314
  369
  428
  490
  555
  624
  695
  770
  848
  929
  1,014
  1,102
  1,193
  1,288
  1,386
  1,489
  1,595
  1,706
  1,821
  1,941
  2,066
  2,196
  2,332
Total liabilities, $m
  110
  137
  167
  201
  238
  279
  324
  373
  425
  480
  539
  601
  666
  735
  806
  881
  959
  1,040
  1,125
  1,213
  1,304
  1,399
  1,497
  1,600
  1,706
  1,817
  1,932
  2,052
  2,177
  2,307
  2,443
Total equity, $m
  235
  132
  161
  194
  230
  270
  313
  359
  410
  463
  520
  580
  643
  709
  778
  850
  925
  1,004
  1,085
  1,170
  1,258
  1,349
  1,444
  1,543
  1,646
  1,753
  1,864
  1,980
  2,100
  2,226
  2,357
Total liabilities and equity, $m
  345
  269
  328
  395
  468
  549
  637
  732
  835
  943
  1,059
  1,181
  1,309
  1,444
  1,584
  1,731
  1,884
  2,044
  2,210
  2,383
  2,562
  2,748
  2,941
  3,143
  3,352
  3,570
  3,796
  4,032
  4,277
  4,533
  4,800
Debt-to-equity ratio
  0.000
  0.200
  0.350
  0.460
  0.550
  0.620
  0.680
  0.730
  0.770
  0.800
  0.820
  0.850
  0.860
  0.880
  0.890
  0.910
  0.920
  0.930
  0.930
  0.940
  0.950
  0.950
  0.960
  0.960
  0.970
  0.970
  0.980
  0.980
  0.980
  0.990
  0.990
Adjusted equity ratio
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491
  0.491

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3
  8
  10
  12
  15
  18
  21
  24
  28
  31
  35
  44
  48
  53
  57
  62
  67
  73
  78
  84
  90
  97
  103
  110
  117
  124
  132
  140
  148
  157
  166
Depreciation, amort., depletion, $m
  10
  12
  14
  15
  17
  19
  21
  24
  26
  29
  32
  29
  32
  35
  39
  42
  46
  50
  54
  58
  62
  67
  72
  76
  82
  87
  92
  98
  104
  110
  117
Funds from operations, $m
  30
  21
  24
  28
  32
  37
  42
  48
  54
  60
  67
  72
  80
  88
  96
  104
  113
  123
  132
  142
  153
  163
  175
  186
  198
  211
  224
  238
  252
  267
  282
Change in working capital, $m
  5
  11
  13
  15
  16
  18
  19
  21
  22
  24
  25
  27
  28
  30
  31
  32
  34
  35
  37
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  59
Cash from operations, $m
  25
  9
  11
  13
  16
  19
  23
  27
  31
  36
  41
  46
  52
  58
  65
  72
  80
  87
  96
  104
  113
  122
  132
  142
  152
  163
  174
  186
  198
  211
  224
Maintenance CAPEX, $m
  0
  -5
  -7
  -8
  -10
  -11
  -13
  -15
  -18
  -20
  -23
  -26
  -29
  -32
  -35
  -39
  -42
  -46
  -50
  -54
  -58
  -62
  -67
  -72
  -76
  -82
  -87
  -92
  -98
  -104
  -110
New CAPEX, $m
  -3
  -13
  -14
  -16
  -18
  -20
  -21
  -23
  -25
  -26
  -28
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -65
Cash from investing activities, $m
  -33
  -18
  -21
  -24
  -28
  -31
  -34
  -38
  -43
  -46
  -51
  -56
  -60
  -65
  -69
  -75
  -79
  -85
  -90
  -96
  -102
  -107
  -114
  -121
  -127
  -135
  -142
  -149
  -158
  -166
  -175
Free cash flow, $m
  -8
  -9
  -10
  -11
  -11
  -12
  -12
  -12
  -11
  -11
  -10
  -10
  -8
  -7
  -5
  -2
  0
  3
  6
  8
  12
  15
  18
  21
  25
  29
  32
  36
  40
  44
  49
Issuance/(repayment) of debt, $m
  0
  26
  30
  34
  37
  41
  45
  48
  52
  55
  59
  62
  65
  68
  72
  75
  78
  81
  84
  88
  91
  95
  99
  102
  107
  111
  115
  120
  125
  130
  136
Issuance/(repurchase) of shares, $m
  0
  17
  19
  20
  21
  22
  22
  23
  23
  22
  22
  16
  15
  14
  12
  10
  8
  6
  3
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -1
  43
  49
  54
  58
  63
  67
  71
  75
  77
  81
  78
  80
  82
  84
  85
  86
  87
  87
  89
  91
  95
  99
  102
  107
  111
  115
  120
  125
  130
  136
Total cash flow (excl. dividends), $m
  -13
  35
  39
  43
  47
  51
  55
  59
  63
  67
  71
  68
  72
  76
  79
  82
  86
  90
  93
  97
  103
  110
  117
  124
  132
  139
  148
  156
  165
  175
  184
Retained Cash Flow (-), $m
  3
  -25
  -29
  -32
  -36
  -40
  -43
  -47
  -50
  -53
  -57
  -60
  -63
  -66
  -69
  -72
  -75
  -78
  -81
  -85
  -88
  -91
  -95
  -99
  -103
  -107
  -111
  -116
  -121
  -126
  -131
Prev. year cash balance distribution, $m
 
  128
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  137
  10
  11
  11
  12
  12
  13
  13
  14
  14
  9
  9
  9
  10
  10
  11
  11
  12
  12
  15
  18
  22
  25
  29
  33
  37
  41
  45
  49
  53
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  132
  9
  9
  9
  9
  9
  8
  8
  8
  7
  4
  4
  4
  3
  3
  3
  2
  2
  2
  2
  2
  2
  2
  1
  1
  1
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100
  94.2
  89.3
  85.2
  81.8
  78.9
  76.5
  74.4
  72.6
  71.2
  69.9
  69.1
  68.4
  67.8
  67.4
  67.1
  66.8
  66.7
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6
  66.6

Cohu, Inc. is a supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. It develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes. It operates through semiconductor equipment segment. It offers products for the pick-and-place, gravity-feed, test-in-strip and turret handling, MEMS, burn-in and system-level test markets. It sells various products, including Delta MATRiX, Delta Pyramid, Delta Eclipse, Delta LinX, Rasco SO1000, Rasco SO2000, Rasco Saturn and Jupiter, Rasco Jaguar, Ismeca NY32, Ismeca NY20 and Delta Fusion HD. Its manufacturing operations are located in Malacca, Malaysia (handlers); Poway, California (thermal subsystems); Laguna, the Philippines (kits and contactors); Kolbermoor, Germany (handlers), and Osaka, Japan (contactors).

FINANCIAL RATIOS  of  Cohu (COHU)

Valuation Ratios
P/E Ratio 195.3
Price to Sales 2.1
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 23.4
Price to Free Cash Flow 26.6
Growth Rates
Sales Growth Rate 4.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -57.1%
Cap. Spend. - 3 Yr. Gr. Rate -5.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.9%
Ret/ On Assets - 3 Yr. Avg. 1.2%
Return On Total Capital 1.3%
Ret/ On T. Cap. - 3 Yr. Avg. 1.6%
Return On Equity 1.3%
Return On Equity - 3 Yr. Avg. 1.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 33.7%
Gross Margin - 3 Yr. Avg. 33.4%
EBITDA Margin 5.7%
EBITDA Margin - 3 Yr. Avg. 7.7%
Operating Margin 2.1%
Oper. Margin - 3 Yr. Avg. 3.8%
Pre-Tax Margin 2.1%
Pre-Tax Margin - 3 Yr. Avg. 3.7%
Net Profit Margin 1.1%
Net Profit Margin - 3 Yr. Avg. 1.3%
Effective Tax Rate 50%
Eff/ Tax Rate - 3 Yr. Avg. 32%
Payout Ratio 200%

COHU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the COHU stock intrinsic value calculation we used $282 million for the last fiscal year's total revenue generated by Cohu. The default revenue input number comes from 2016 income statement of Cohu. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our COHU stock valuation model: a) initial revenue growth rate of 23.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for COHU is calculated based on our internal credit rating of Cohu, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cohu.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of COHU stock the variable cost ratio is equal to 97.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for COHU stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Cohu.

Corporate tax rate of 27% is the nominal tax rate for Cohu. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the COHU stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for COHU are equal to 18.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Cohu operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for COHU is equal to 17%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $235 million for Cohu - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 27.96 million for Cohu is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cohu at the current share price and the inputted number of shares is $0.6 billion.

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COMPANY NEWS

▶ ETFs with exposure to Cohu, Inc. : December 7, 2017   [Dec-07-17 01:20PM  Capital Cube]
▶ 5 Momentum Stocks Backed by Driehaus Strategy   [Nov-28-17 08:18AM  Zacks]
▶ ETFs with exposure to Cohu, Inc. : November 27, 2017   [Nov-27-17 12:47PM  Capital Cube]
▶ Will Cohu Incs (COHU) Earnings Grow In Next 12 Months?   [Nov-16-17 07:57AM  Simply Wall St.]
▶ Cohu Reports Third Quarter 2017 Results   [Nov-02-17 04:00PM  Business Wire]
▶ Cohu, Inc. to Host Earnings Call   [11:40AM  ACCESSWIRE]
▶ Cohu to Announce Third Quarter 2017 Results on November 2   [Oct-19-17 04:00PM  Business Wire]
▶ Why Cohu, Inc. Stock Gained 27.1% in September   [Oct-10-17 06:20PM  Motley Fool]
▶ Cohu, Inc.: Strong price momentum but will it sustain?   [Sep-19-17 04:35PM  Capital Cube]
▶ Why You Shouldn't Bet Against Cohu (COHU) Stock   [Sep-18-17 08:52AM  Zacks]
▶ Scott Black Establishes 4 New Positions in 2nd Quarter   [Aug-22-17 12:45PM  GuruFocus.com]
▶ [$$] Computer-Chip Testing Firm Urges Blocking Sale of Rival to China Fund   [Aug-16-17 12:28AM  The Wall Street Journal]
▶ [$$] Computer-Chip Testing Firm Urges Blocking Sale of Rival to China Fund   [Aug-15-17 05:33PM  The Wall Street Journal]
▶ Cohu, Inc. Value Analysis (NASDAQ:COHU) : July 31, 2017   [Jul-31-17 05:48PM  Capital Cube]
▶ Cohu tops Street 2Q forecasts   [Jul-27-17 11:57PM  Associated Press]
▶ Cohu Reports Second Quarter 2017 Results   [04:05PM  Business Wire]
▶ Cohu to Participate at D.A. Davidson Technology Forum   [Jul-25-17 04:05PM  Business Wire]
▶ Cohu (COHU) in Focus: Stock Moves 8% Higher   [Jul-18-17 08:41AM  Zacks]
▶ Story Stocks from Briefing.com   [Jul-12-17 11:48AM  Briefing.com]
▶ Cohu rallies on strong revenue growth   [Jul-11-17 04:49PM  MarketWatch]
▶ Cohu Introduces New PANTHER Prober   [Jul-10-17 09:00AM  Business Wire]
▶ Cohu to Host Corporate Access Day   [Jun-13-17 01:20PM  Business Wire]
▶ ETFs with exposure to Cohu, Inc. : June 8, 2017   [Jun-08-17 01:30PM  Capital Cube]
▶ ETFs with exposure to Cohu, Inc. : May 26, 2017   [May-26-17 01:02PM  Capital Cube]
▶ Cohu, Inc. Value Analysis (NASDAQ:COHU) : May 19, 2017   [May-19-17 02:24PM  Capital Cube]
▶ Cohu to Present at Investor Conferences   [May-16-17 01:33PM  Business Wire]
▶ Is Cohu (COHU) Stock a Solid Choice Right Now?   [May-05-17 08:40AM  Zacks]
▶ Cohu Joins Rank Of Stocks With 95-Plus Composite Rating   [May-01-17 11:55AM  Investor's Business Daily]
▶ Why Cohu Inc. Stock Slumped Today   [Apr-28-17 12:25PM  Motley Fool]
▶ Cohu beats Street 1Q forecasts   [Apr-27-17 05:04PM  Associated Press]
▶ Cohu to Announce First Quarter 2017 Results   [Apr-14-17 11:00AM  Business Wire]
▶ New Breakout Stocks Zacks Rank #1 (Strong Buy)   [Apr-01-17 12:12PM  Zacks]
▶ Cohu Introduces New RF Contactor for Mobile Market   [Mar-06-17 04:05PM  Business Wire]
▶ Cohu beats Street 4Q forecasts   [04:42PM  Associated Press]
▶ Cohu to Announce Fourth Quarter/Full Year 2016 Results   [Feb-06-17 04:26PM  Business Wire]
▶ Cohu Completes Acquisition of Kita   [Jan-05-17 09:00AM  Business Wire]
▶ Cohu Files Universal Shelf Registration on Form S-3   [Jan-03-17 04:22PM  Business Wire]
Financial statements of COHU
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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