Cohu eyes worst day in 4 years on planned $200 mln convertible bonds sale

Cohu

24/09/2025 15:04

** Shares of semiconductor testing firm Cohu Inc COHU.O tumble 13.1% to $19.81 early Weds as it looks to raise capital

** COHU shares on track for biggest daily pct decline since Apr 29, 2021

** Poway, California-based COHU late Tues unveiled private offering of $200 mln convertible bonds due 2031

** Co plans to use net offering proceeds for general corp purposes

** It also intends to use a portion of proceeds to pay cost of capped calls, derivative transactions employed to help reduce potential dilution

** Co had about $1.1 bln market cap through Tues close

** Including move on the session, COHU shares down about 26% YTD

** 4 of 5 analysts rate stock "strong buy" or "buy", 1 has "hold"; median PT is $26.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))