Earnings are out:
Q3 8 cent loss on 95 million Q4 guidance @ 97 million +/- 7 million.
UP BIG in Premarket as they have announced orders for SIC burn in test and Neon metrology on wafers from big European chip maker. Addressable market of 50 million)
Up $2.76 at the open. Been a while since we've seen that. HBM is the AI sweet spot. They kept that quiet eh?
Cohu Enters HBM Memory Market with Neon Inspection Metrology Platform
POWAY, Calif.--(BUSINESS WIRE)--Oct. 31, 2024-- Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today announced that its Neon platform was selected by a leading U.S. memory and data storage technologies customer for inspection metrology of high bandwidth memory devices (HBM) used in high-performance computing (HPC) and generative artificial intelligence (AI) applications.
Neon offers a highly efficient vision system enabling full 6-sided optical inspection and measurement of micro-pillars, integration with factory automation and an efficient output sorting process that addresses current and roadmap HBM market needs. Cohu’s vision technology delivers accurate and reliable metrology of thousands of micro-pillars distributed over the HBM device. The accompanying AI inspection software utilizes proprietary deep learning and neural network-based pattern recognition that improves inspection yield. The HBM market is projected to be approximately $23 billion this year with a CAGR of 22% through 2029, representing an opportunity for more than $100M revenue for this class of inspection metrology systems.
“We are pleased to have received an initial order from one of the world’s leading semiconductor memory manufacturers to improve quality of HBM memory used in AI data centers,” commented Luis Müller, Cohu President and CEO. “This is a new market application for Cohu products, and it represents a strategic and substantial growth opportunity aligned with secular growth in artificial intelligence.”
PLUS Cohu is entering HBM memory for AI chips (they have orders for - beta testing has been completed). This a historic new application for Cohu, as they have NEVER addressed the memory market. Once again featuring the "NEON" test (6 sided metrology test) and handling.
This could be a substantial new market as High Band Memory is the new buzz and a requirement of AI chips.
Potential new customers from the memory makers.
Exciting new surprise market in high demand!
Cohu Enters HBM Memory Market with Neon Inspection Metrology Platform
POWAY, Calif.--(BUSINESS WIRE)--Oct. 31, 2024-- Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today announced that its Neon platform was selected by a leading U.S. memory and data storage technologies customer for inspection metrology of high bandwidth memory devices (HBM) used in high-performance computing (HPC) and generative artificial intelligence (AI) applications.
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Cohu Reports Third Quarter 2024 Results
- Third quarter revenue $95.3 million, approximately 67% recurring
- Gross margin of 46.8%; non-GAAP gross margin of 47.1%
- Sequential order growth with recurring improving 8% quarter-over-quarter
POWAY, Calif.--(BUSINESS WIRE)--Oct. 31, 2024-- Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today reported fiscal 2024 third quarter net sales of $95.3 million and GAAP loss of $18.1 million or $0.39 per share. Net sales for the first nine months of 2024 were $307.7 million and GAAP loss was $48.5 million or $1.03 per share.
Cohu also reported non-GAAP results, with third quarter 2024 loss of $3.8 million or $0.08 per share and loss of $3.8 million or $0.08 per share for the first nine months of 2024.
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Total cash and investments at the end of third quarter 2024 were $269.2 million. Cohu repurchased 315,000 shares of its common stock in the third quarter for an aggregate amount of approximately $8.1 million.
“We continued to execute on our strategy to win customers on Cohu’s Diamondx tester, capturing design-wins in mixed signal applications, while also expanding our inspection metrology business with Neon and the new Krypton system,” said Cohu President and CEO Luis Müller. “We are focused on developing new products that are aligned to higher near-term growth opportunities in data centers and continuing to build our recurring software revenue.”
Cohu expects fourth quarter 2024 sales to be in a range of $95 million +/- $7 million.
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Cohu Enters Silicon Carbide (SiC) Burn-In Test Market
POWAY, Calif.--(BUSINESS WIRE)--Oct. 31, 2024-- Cohu, Inc. (NASDAQ: COHU), a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity, today announced that a leading European customer has selected Cohu’s Neon system for high-speed handling and inspection of high-power SiC dies in burn-in test applications. This expands Cohu’s products into burn-in and stress-test SiC processes.
Cohu’s solution offers a proprietary carrier concept that allows singulated die burn-in and stress-test for up to 150 devices per carrier, enabling high parallel test, and optimizing yield and productivity. The unique interface solution enables high-power test up to 2,500V and heat dissipation capability up to 3,000W. In conjunction with test, Cohu’s vision inspection metrology technology provides 6-sided optical inspection with micro-scale defect detection and full traceability from wafer input to output, satisfying stringent automotive zero-defect requirements. The accompanying AI inspection software utilizes proprietary deep learning and neural network-based pattern recognition to improve inspection yield and maximize throughput, reducing customers' total cost of ownership. The silicon carbide power market is projected to be approximately $2.2 billion this year with a CAGR of 25% through 2029 driven mainly by vehicle electrification and renewable energy, representing a $50 million market opportunity for Cohu in this type of equipment.
“We are pleased to have received multiple orders from one of the world’s leading silicon carbide power device manufacturers for this application,” commented Luis Müller, Cohu President and CEO. “This new product configuration will extend our offering in the silicon carbide market, enabling burn-in test at the die-level to significantly lower our customers’ cost and optimizing yield and productivity.”
About Cohu:
Neon offers a highly efficient vision system enabling full 6-sided optical inspection and measurement of micro-pillars, integration with factory automation and an efficient output sorting process that addresses current and roadmap HBM market needs. Cohu’s vision technology delivers accurate and reliable metrology of thousands of micro-pillars distributed over the HBM device. The accompanying AI inspection software utilizes proprietary deep learning and neural network-based pattern recognition that improves inspection yield. The HBM market is projected to be approximately $23 billion this year with a CAGR of 22% through 2029, representing an opportunity for more than $100M revenue for this class of inspection metrology systems.
“We are pleased to have received an initial order from one of the world’s leading semiconductor memory manufacturers to improve quality of HBM memory used in AI data centers,” commented Luis Müller, Cohu President and CEO. “This is a new market application for Cohu products, and it represents a strategic and substantial growth opportunity aligned with secular growth in artificial intelligence.”
About Cohu:
Bob |
