Steven J. Bilodeau, a director of COHU INC (NASDAQ:COHU), executed a sale of 11,105 shares of the company's common stock on February 20, 2026, netting approximately $347,142. The shares were sold at prices between $31.23 and $31.40, according to a Form 4 filing with the Securities and Exchange Commission dated February 23, 2026.
The transaction comes after a period of strong market performance for the semiconductor equipment maker. Over the past 12 months, Cohu's shares have returned 57%, and they have advanced 49% in the last six months. Despite those gains, the stock is trading at $30.41, a level InvestingPro's analysis indicates is above its Fair Value and has placed the name on that platform's Most Overvalued list.
Following the sale, Bilodeau's direct holdings in Cohu total 58,951 shares. That position is made up in part by 10,257 Restricted Stock Units (RSUs) and 27,403 Deferred Stock Units (DSUs), as disclosed in the filing.
Company performance context
Cohu's most recent quarterly results, covering the fourth quarter of 2025, included an earnings-per-share (EPS) result of -$0.15, which missed the consensus expectation of $0.06. That shortfall represented a -350% surprise versus estimates. Revenue for the period was $122.2 million, a modest beat relative to the $122.1 million analysts had forecast.
The firm's non-GAAP gross margins came in materially below expectations, driven in part by a one-time inventory charge. That charge accounted for 350 basis points of a 420 basis-point shortfall in gross margins versus expectations, according to the information disclosed alongside the results.
Analyst reaction
In the wake of the quarter, Needham adjusted its price target on Cohu to $33.00 from $30.00 and maintained a Buy rating on the stock. The firm cited AI-related opportunities as a reason for the higher target level despite the earnings miss noted above.
Additional resources
The sale and shareholding details were disclosed in the SEC Form 4 filed February 23, 2026. For investors seeking more extensive valuation and performance metrics on Cohu, a Pro Research Report is available for this and other U.S. stocks on InvestingPro.
Summary of the transaction and company signals
- Director sale: 11,105 shares sold on February 20, 2026, for about $347,142 at $31.23 to $31.40.
- Post-sale ownership: Bilodeau directly holds 58,951 shares, including 10,257 RSUs and 27,403 DSUs.
- Recent results: Q4 2025 EPS of -$0.15 versus $0.06 expected; revenue $122.2 million versus $122.1 million expected.
- Valuation note: Stock trading at $30.41 and identified by InvestingPro as above Fair Value and on the Most Overvalued list.