Cohu

What Cohu does

Cohu, Inc. (NASDAQ: COHU) is a Poway, California-headquartered supplier of test handling, thermal subsystems, inspection and metrology equipment, MEMS test solutions, and AI-driven software analytics to the global semiconductor industry. Founded in 1947 and operating approximately 28 sites across the United States, Europe, and Asia with roughly 2,777 employees, the company serves integrated device manufacturers (IDMs), fabless companies, and outsourced semiconductor assembly and test (OSAT) partners across the automotive, computing/HPC, mobile, industrial, IoT/optoelectronics, and consumer end-markets.

Cohu's portfolio is organized into five product categories: (1) test handlers spanning pick-and-place (Eclipse, MATRiX, MT9510), gravity (MT9928 xm, Rasco SO1000/SO2000), and turret platforms (Ismeca NY20/NY32/NY32W, Neon); (2) automatic test equipment platforms (Diamondx, Diamondx DxV, PAx); (3) interface solutions including the ULTRA, MAXOR, and HYDRA contactor series and probe heads, with the proprietary patent-pending Volta-Flux MEMS probe architecture; (4) inspection and metrology systems (NV-Core, Krypton); and (5) the PAICe Digital Twin Platform, an AI-driven analytics suite with modules for monitoring, prescriptive analytics, deep-learning inspection, and closed-loop process control, featuring the patent-pending DTQL natural-language query language and patented compression techniques that deliver 5x faster data access and 10x faster visualization. The T-Core Active Thermal Control subsystem underpins test yield for high-power-density AI and HPC processors.

Cohu generates revenue through one-time capital equipment sales (handlers, ATE, contactors, inspection tools), recurring spares and consumables, service and training contracts, refurbished equipment through its EDGE subsidiary, and software analytics subscriptions such as PAICe Prescriptive at approximately $330,000 per deployment per year. Distribution is direct enterprise sales to global semiconductor manufacturers, complemented by customer portals and investor conference engagement. The company reported FY2025 revenue of approximately $453 million, up 13% from $401 million in FY2024, and guided to 20-25% revenue growth in FY2026 with $80-100 million projected in HPC/AI computing.

Name

Cohu

Legal name

Cohu, Inc.

Website

https://cohu.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cohu, Inc. (NASDAQ: COHU) supplies semiconductor test handlers, automatic test equipment, interface contactors, inspection/metrology systems, and AI-driven software analytics to global IDMs, fabless companies, and OSATs serving automotive, HPC/AI, mobile, industrial, and IoT end-markets.

Ownership category

akta.pro rank

Product category

Semiconductor Test Equipment

NAICS

Semiconductor Machinery Manufacturing (333242), Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515)

SIC

Instruments For Meas & Testing Of Electricity & Elec Signals (3825)

akta.pro primary industry

Test, Probe & Burn-In Equipment (Wafer Sort/Final Test) (HDAHAEAJ)

akta.pro secondary industry

Test & Measurement Equipment (Oscilloscopes, DAQ, signal analyzers, calibration benches) (IMAGAFAC)

Keywords

• Semiconductor test equipment
• Test handlers
• Interface contactors
• Semiconductor inspection metrology
• AI process control software

Headquarters

HQ city

Poway

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Equipment Sales: Sale of test handlers, semiconductor testers, interface solutions (contactors/probe heads), and inspection/metrology equipment to semiconductor manufacturers. Equipment sales are capital-intensive, one-time purchases with recurring spares and consumables revenue.
2. Software Analytics Subscriptions: PAICe Digital Twin Platform and related software products offered as annual subscriptions (e.g., PAICe Prescriptive at $330,000/year). Software analytics provide recurring revenue and drive customer stickiness.
3. Service and Support: Service-based support, training programs, refurbished equipment sales, and OEM protect programs generate recurring service revenue from installed base.
4. Spares and Consumables: Replacement parts, spring probes, and consumables for test equipment provide recurring revenue from existing customer installations.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Cohu designs, manufactures, and services semiconductor test handling equipment, automatic test equipment (ATE), interface solutions (contactors and probe heads), thermal control subsystems, inspection and metrology systems, and AI-driven software analytics (PAICe Digital Twin Platform). The portfolio enables wafer-level, final package, and system-level testing for semiconductor manufacturers serving automotive, computing (AI/HPC), consumer, industrial, IoT/IoV, and mobile end-markets.

Product overview

Cohu offers a comprehensive, integrated portfolio of semiconductor test and inspection solutions organized around five core product categories: (1) Test Handlers — including Eclipse, MATRiX, MT9510 (pick-and-place), MT9928 xm, Rasco SO1000/SO2000 (gravity), Ismeca NY20/NY32/NY32W, Neon (turret handlers), and Sense+ (MEMS/sensor automation); (2) Semiconductor Testers — including Diamondx, Diamondx DxV, and PAx (ATE platforms) with associated instrumentation; (3) Interface Solutions — including ULTRA Series, MAXOR Series, HYDRA Series contactors, plus cBoa, cPython, Gemini, Mercury, RF Scrub, nanoKelvin, and E-Series probes; (4) Inspection and Metrology — including NV-Core inspection system with Krypton package inspection; and (5) Software Analytics — the AI-driven PAICe Digital Twin Platform comprising PAICe Monitor, PAICe Prescriptive, PAICe Inspection, PAICe Maker, plus InSight and SmartTrak data intelligence tools. Cohu's products are complemented by T-Core Active Thermal Control subsystems. The portfolio enables optimized yield and productivity across the semiconductor manufacturing lifecycle, from wafer-level test through final package inspection, with particular focus on AI, HPC, automotive, and advanced packaging applications.

Differentiator

Problem solved

Functional benefit

Brands

• PAICe Digital Twin Platform: High-performance, AI-driven digital twin platform for semiconductor manufacturers that accelerates analytics and application delivery with patented compression techniques providing up to 5x faster data access and 10x faster visualization.
• EDGE

Products and services

• PAICe Digital Twin Platform High-performance AI-driven data platform for semiconductor manufacturers providing up to 5x faster data access, 10x faster visualization, and rapid application delivery in days rather than months. Includes patented compression techniques and DTQL natural language scripting.
• PAICe Monitor Tool-agnostic AI semiconductor manufacturing analytics software that ingests trace and tool data, extracts insights via automated feature extraction, and deploys predictive analytics for process optimization.
• PAICe Prescriptive Prescriptive analytics software using equipment expertise and AI/ML to turn Cohu equipment data into actionable insights with guided repair recommendations. Annual subscription approximately $330,000 per customer.
• PAICe Inspection Software module using deep learning and pattern recognition to boost inspection yield, cut overhead, and enhance manufacturing efficiency for semiconductor components.
• PAICe Maker AI-driven advanced process control software for manufacturing that automatically adapts to process drifts over time, functioning as a closed-loop AI software controller.
• Eclipse Test Handler Pick-and-place test handler configured with active thermal control for testing next-generation HPC processors with complex power densities and thermal constraints. Key platform for AI accelerator and HPC processor testing.
• MATRiX Test Handler Pick-and-place test handler for automated movement of semiconductor devices with temperature control during test operations.
• MT9510 Test Handler Pick-and-place test handler for semiconductor device testing with thermal control capabilities.
• MT9928 xm Gravity Test Handler Gravity test handler for semiconductor test, inspection and packaging providing high quality yield and throughput.
• Rasco SO1000 Gravity Test Handler Gravity test handler for semiconductor device testing applications.
• Rasco SO2000 Gravity Test Handler Gravity test handler for semiconductor device testing applications.
• Ismeca NY20 Turret Handler 20-position turret platform for semiconductor test, inspection and packaging providing highest quality yield and throughput for fragile devices.
• Ismeca NY32 Turret Handler 32-position turret platform for semiconductor test, inspection and packaging with highest process integration capabilities for demanding finishing processes.
• Ismeca NY32W Turret Handler 32-position turret platform for semiconductor test, inspection and packaging optimized for WLCSP and die inspection.
• Neon Inspection Platform Next-generation inspection platform for small, fragile semiconductors used in mobility and consumer applications. Market leading inspection yield with uncompromised throughput for WLCSP inspection.
• Sense+ Automation Platform Automation platform for MEMS and sensor test solutions.
• Diamondx Automatic Test Equipment Universal Automatic Test Equipment platform for testing semiconductor devices with best-in-class solutions in RF, digital and mixed signal applications. Supports testing of GaN power devices for AI data center applications.
• Diamondx DxV Test System Test system platform for semiconductor device testing applications.
• PAx Automatic Test Equipment Automatic Test Equipment platform for testing semiconductor devices with instrumentation for various applications.
• NV-Core Inspection System Vision inspection system providing advanced quality inspection and metrology for semiconductor manufacturing, including 3D Flex Vision System and Aquilae modules.
• Krypton Package Inspection System Package inspection system for advanced quality inspection of semiconductor packages.
• ULTRA Series Contactors Standardized horizontal MEMS cantilever contactor series for precision and power test including ULTRA S, ULTRA HCI, ULTRA V, and ULTRA E variants. Drop-in replacement for spring-probe sockets and elastomer-based contactors.
• MAXOR Series Contactors Standardized horizontal MEMS cantilever contactors engineered for high current capability, long lifetime (up to 5 million insertions), and superior electrical performance across wafer-level, singulated die, and final test insertions. Includes patent-pending Volta-Flux MEMS probe architecture.
• HYDRA Series Contactors Probe standardized contactor series designed for high-volume power and RF applications, including HYDRA COAX, HYDRA RF, and HYDRA xW variants.
• cBoa Contactor Cost-efficient high-performance contactor or probe head for high-volume production test with bandwidth up to 35 GHz.
• cPython Kelvin Contactor High performance Kelvin contactor for high volume production test of analog and mixed signal ICs with bandwidth up to 26 GHz.
• Gemini Kelvin Contactor Kelvin test contactor for in-line and array packages with true Kelvin contact for high-volume final test of singulated packages and wafer-level devices.
• Mercury Contactor Test contactor and probe head for cost-efficient high-performance test with bandwidth up to 22 GHz and current carrying capacity up to 1.9 A.
• RF Scrub Contactor RF test contactor with extremely short signal path (0.90mm test height) for excellent RF performance with low cost of ownership.
• nanoKelvin Contactor Cantilever Kelvin test contactor for high-power plunge-to-board applications with temperature range -60°C to +175°C.
• E-Series Spring Probe Contactors Custom probes and test contactor solutions up to 60 GHz with flexible pitch range from 0.2 mm to 1.5 mm.
• T-Core Active Thermal Control Active thermal control technology maximizing test yield for high performance burn-in and system level test with fast and accurate temperature control.
• Temperature Chambers Thermal sub-systems providing fast and accurate temperature control of integrated circuits during testing process.
• Diamondx Instrumentation Instrumentation modules for the Diamondx ATE platform supporting RF, digital, and mixed signal semiconductor test applications.
• PAx Instrumentation Instrumentation modules for the PAx ATE platform supporting semiconductor device testing across various applications.
• Wireless/RF Instrumentation Wireless and RF instrumentation modules for Cohu's ATE platforms to support RF and wireless semiconductor device testing.
• EDGE Refurbished Test Equipment Cohu's refurbished equipment group that acquires, refurbishes and sells pre-owned test systems and upgrades, serving the worldwide market for pre-owned semiconductor test equipment.
• Application Services for ATE Application services for Cohu's semiconductor testers, including program development, test cell integration, and consulting for semiconductor manufacturers.

Quantifiable outcome

• 5x faster data access, 10x faster visualization with PAICe Digital Twin Platform
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability11 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Tignis, Inc.coreStrategic or Co-development Partner · 16 December 2024Cohu entered into a definitive agreement to acquire Tignis, Inc., a Seattle-based AI process control and analytics software provider. The acquisition enables Cohu to expand into the estimated $2.6 billion semiconductor process control market with Tignis' PAICe Monitor and PAICe Maker solutions leveraging AI and machine learning. Transaction expected to close in January 2025, funded with cash on hand.
• Equiptest EngineeringcoreStrategic or Co-development Partner · 2 October 2023Cohu announced the acquisition of Equiptest Engineering to expand its capabilities in the semiconductor back-end equipment market.
• MCT Worldwide, LLCcoreStrategic or Co-development Partner · 30 January 2023Cohu acquired MCT Worldwide, a provider of semiconductor test handler automation equipment, as part of its strategic expansion into the advanced package test market. The acquisition aimed to enhance Cohu's product portfolio and leverage MCT's expertise in automation, robotics, and machine learning. Transaction expected to be accretive starting in 2024.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Teradyne: Teradyne is a leading global supplier of semiconductor automatic test equipment (ATE), directly competing with Cohu's Diamondx and PAx ATE platforms. Both companies target similar semiconductor manufacturer customers with comparable test solutions for digital, analog, mixed-signal, and RF devices.
• Advantest: Advantest is a major global semiconductor ATE provider, competing head-to-head with Cohu in tester platforms for logic, memory, and SoC devices. Both companies serve the same fab, IDM, and OSAT customer base with overlapping product portfolios.
• FormFactor: FormFactor is a leading supplier of probe cards and interface solutions for semiconductor wafer testing, directly comparable to Cohu's MAXOR, ULTRA, and HYDRA contactor series. Both companies serve the wafer-level test and final test markets with MEMS-based probe technologies.
• Onto Innovation: Onto Innovation supplies inspection, metrology, and lithography equipment to the semiconductor industry, with overlapping capabilities in advanced packaging inspection similar to Cohu's NV-Core vision systems. Both target OSAT and advanced packaging customers.
• ASMPT (ASM Pacific Technology): ASMPT supplies assembly and packaging equipment for the semiconductor industry with overlap to Cohu's advanced package test handler business. Both companies serve OSAT customers with back-end test and packaging solutions.

Broad incumbents

• KLA Corporation: KLA is a dominant broad-line semiconductor process control and yield management equipment provider with substantial inspection/metrology overlap with Cohu's NV-Core and Krypton systems. KLA's much larger scale and broader portfolio position it as a broad incumbent in adjacent test categories.
• MKS Instruments: MKS Instruments provides instruments, subsystems, and process control solutions for semiconductor manufacturing with overlap to Cohu's test and measurement instrumentation. MKS serves as a broader incumbent across multiple semiconductor process steps beyond pure test.
• Tokyo Electron: Tokyo Electron (TEL) is a major Japanese semiconductor manufacturing equipment supplier with a broad portfolio spanning deposition, etch, and test-related equipment. While not a direct ATE competitor, TEL's broader wafer-level equipment overlap makes it a relevant incumbent in Cohu's served market.
• Keysight Technologies: Keysight Technologies provides electronic test and measurement instruments with overlap to Cohu's ATE instrumentation and RF testing capabilities. Keysight's broad test portfolio serves semiconductor and adjacent electronics markets as a scaled incumbent.

Emerging players

• National Instruments (NI): National Instruments (now part of Emerson) supplies modular test and measurement platforms used in semiconductor and electronics test, with partial overlap to Cohu's ATE instrumentation. The two companies intersect in PXI-based and modular test approaches for semiconductor validation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cohu_inc
• YouTubeyoutube.com/@Cohu
• LinkedInlinkedin.com/company/cohu
• Instagraminstagram.com/cohuinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cohu