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COHU vs ON
Which Stock Would AI Choose? Cohu, Inc. (COHU) vs. ON Semiconductor Corporation (ON) Stock Comparison
Key Takeaways
- COHU shares have surged over 100% YTD, driven by AI and high-performance computing (HPC) test demand, with Q1 revenue beating estimates at $125.1 million.
- ON delivered a Q1 earnings beat with $1.51 billion in revenue and expanded gross margins to 38.5%, fueled by AI data center growth and EV silicon carbide (SiC) deals.
- Both stocks show strong 1-year gains exceeding 160%, but ON's larger market cap ($40B vs. $2.3B) and profitability (9.5% profit margin) provide greater stability.
- Analyst targets suggest upside for COHU (avg. $57) amid raised price targets post-earnings, while ON holds steady at $102.
- Semiconductor sector momentum favors equipment and power plays, with COHU exposed to testing and ON to end-market chips.
- Recent AI bot trends on Tickeron highlight semis like COHU and ON peers, posting up to 94% annualized returns.
Introduction
This stock comparison examines COHU and ON, two semiconductor players riding the AI and data center waves. Cohu, Inc. specializes in backend test and inspection equipment, while ON Semiconductor Corporation (onsemi) delivers power management and sensing solutions for automotive, industrial, and computing applications. Traders seeking exposure to semiconductor supply chain growth, from testing to power delivery, will find this analysis relevant for assessing relative performance, momentum, and market positioning in recent market activity. Both have benefited from heightened demand, offering insights into sector trade-offs.
COHU Overview and Recent Performance
Cohu, Inc. (COHU) is a global leader in semiconductor test, automation, inspection, and metrology equipment, serving manufacturers with handlers, contactors, and AI-driven analytics software like DI-Core. Headquartered in San Diego, it focuses on backend processes critical for yield optimization in AI chips and HPC.
In recent weeks, COHU stock has hit new 52-week highs near $49, with YTD gains over 108% and 1-year returns topping 195%, far outpacing the S&P 500. Q1 2026 revenue rose 29% year-over-year to $125.1 million, beating estimates, driven by $30 million in follow-on orders for its Eclipse HPC test platform amid AI datacenter demand. Non-GAAP gross margins held at 46.5%, with management raising FY26 HPC outlook to $80-100 million. Analyst upgrades, including TD Cowen to $60, reflect sentiment shifts from HPC exposure, though profitability remains challenged at -11.5% margins.
ON Overview and Recent Performance
ON Semiconductor Corporation (ON), branded as onsemi, designs power, analog, mixed-signal, and image sensing semiconductors for automotive EVs, industrial automation, AI data centers, and consumer markets. Its Power Solutions Group and Intelligent Sensing Group target high-growth areas like SiC devices and photon-counting tech, from Scottsdale, Arizona.
Recent market activity saw ON trading around $103, with YTD returns of 89.6% and 1-year gains of 167%. Q1 2026 revenue hit $1.51 billion, up slightly year-over-year and beating estimates, powered by 30% sequential AI data center growth and EV SiC expansions. Non-GAAP EPS of $0.64 topped forecasts, with gross margins expanding to 38.5% for the third quarter via cost efficiencies. Despite a post-earnings dip, analysts like KeyBanc raised targets to $125 on datacenter momentum, underscoring positive sentiment amid industrial recovery.
Trending AI Robots
Tickeron’s Trending AI Robots page curates the top performers from hundreds of AI trading bots that analyze thousands of tickers across diverse strategies, timeframes, and styles like momentum, sector rotation, and volatility plays. Only the most suitable for current conditions—boasting win rates of 50-80%, profit factors up to 3.0+, and annualized returns reaching 94% in semiconductors—earn a spot among the 25 trending bots out of 351 total. Examples include "Semi Boom Gains Momentum" (83-95% returns on MPWR, LRCX, NVDA) and "Data Centers & AI Infrastructure" (51-86% on COHU, ONTO, AEHR), highlighting real-time signals with low drawdowns. These bots adapt to market shifts, offering copy-trading for pattern day traders. Explore Tickeron’s AI tools to see how they navigate semis volatility.
Head-to-Head Comparison
COHU and ON operate in the semiconductor ecosystem but diverge in focus: Cohu on test equipment (cyclical, high growth potential in AI/HPC ramps), ON on power/sensing chips (diversified across EVs, industrials, stable end-markets). Growth drivers contrast—COHU's 29% Q1 surge ties to niche HPC orders, while ON's AI datacenter doubled YoY with broader EV content.
Recent momentum favors COHU's 108% YTD vs. ON's 90%, but ON's scale yields superior profitability (9.5% margins, 7.5% ROE vs. COHU's losses, -7% ROE). Risk factors include COHU's negative cash flow and high forward P/E (111x vs. ON's 35x), with similar debt/equity (~43%). Sector exposure aligns on semis/AI, but ON's downstream positioning buffers inventory cycles better. Market sentiment leans bullish for both, with COHU's analyst fervor signaling higher beta upside/trade-offs.
Tickeron AI Verdict
Tickeron’s AI currently favors ON for its trend consistency, profitability, and catalysts like AI data center ramps and margin expansion, positioning it stronger amid sector volatility. COHU offers higher relative momentum from HPC, but ON's scale and lower valuation risks tilt probabilistic edge toward sustained outperformance.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full Disclaimers and Limitations.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is COHU is a Hold and ON is a Hold.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
COHU’s FA Score shows that 1 FA rating(s) are green whileON’s FA Score has 2 green FA rating(s).
- COHU’s FA Score: 1 green, 4 red.
- ON’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
COHU’s TA Score shows that 2 TA indicator(s) are bullish while ON’s TA Score has 3 bullish TA indicator(s).
- COHU’s TA Score: 2 bullish, 6 bearish.
- ON’s TA Score: 3 bullish, 5 bearish.
Price Growth
COHU (@Electronic Production Equipment) experienced а -2.87% price change this week, while ON (@Semiconductors) price change was -17.74% for the same time period.
The average weekly price growth across all stocks in the @Electronic Production Equipment industry was -5.88%. For the same industry, the average monthly price growth was -5.32%, and the average quarterly price growth was +104.94%.
The average weekly price growth across all stocks in the @Semiconductors industry was -14.22%. For the same industry, the average monthly price growth was -1.45%, and the average quarterly price growth was +76.28%.
Reported Earning Dates
COHU is expected to report earnings on Jul 30, 2026.
ON is expected to report earnings on Aug 03, 2026.
Industries' Descriptions
@Electronic Production Equipment (-5.88% weekly)The electronic production equipment industry makes equipment used to produce semiconductors. Such equipment includes wafer fabrication, plasma etching and photo-resist processing equipment. The industry also makes chemical vapor deposition processing systems and photomasks, which are high-purity quartz plates that contain patterns to define integrated circuits layouts. Applied Materials, Inc., Lam Research Corporation, and KLA-Tencor Corporation are examples of electronic production equipment manufacturing companies.
@Semiconductors (-14.22% weekly)The semiconductor industry manufacturers all chip-related products, including research and development. These chips are used in innumerable electronic devices, including computers, cell phones, smartphones, and GPSs. Intel Corporation, NVIDIA Corp., and Broadcomm are some of the prominent players in this industry. Semiconductor companies usually tend to do well during periods of healthy economic growth, thereby inducing further research and development in the industry – which in turn augurs well for productivity and growth in the economy. In the near future, demand for semiconductor products (and possibly innovation within the segment) should only expand further, with the proliferation of 5G, autonomous vehicles, IoT, and various AI-driven electronics set to herald a new, advanced chapter in the technology-driven world as we know it. With burgeoning prospects comes great competition. In 2015, SIA estimated that U.S. semiconductor industry ranks as the second most competitive U.S. industry out of 2882 U.S. industries designated manufacturers by the U.S. Census Bureau.
| COHU | ON | COHU / ON | |
| Capitalization | 2.57B | 42.8B | 6% |
| EBITDA | 6.05M | 1.52B | 0% |
| Gain YTD | 134.250 | 103.453 | 130% |
| P/E Ratio | 51.42 | 81.01 | 63% |
| Revenue | 481M | 6.06B | 8% |
| Total Cash | 489M | 2.4B | 20% |
| Total Debt | 327M | 3.01B | 11% |
COHU | ON | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 84 | 74 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 45 Fair valued | 60 Fair valued | |
PROFIT vs RISK RATING 1..100 | 62 | 48 | |
SMR RATING 1..100 | 95 | 80 | |
PRICE GROWTH RATING 1..100 | 35 | 2 | |
P/E GROWTH RATING 1..100 | 5 | 9 | |
SEASONALITY SCORE 1..100 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
COHU's Valuation (45) in the Electronic Production Equipment industry is in the same range as ON (60) in the Semiconductors industry. This means that COHU’s stock grew similarly to ON’s over the last 12 months.
ON's Profit vs Risk Rating (48) in the Semiconductors industry is in the same range as COHU (62) in the Electronic Production Equipment industry. This means that ON’s stock grew similarly to COHU’s over the last 12 months.
ON's SMR Rating (80) in the Semiconductors industry is in the same range as COHU (95) in the Electronic Production Equipment industry. This means that ON’s stock grew similarly to COHU’s over the last 12 months.
ON's Price Growth Rating (2) in the Semiconductors industry is somewhat better than the same rating for COHU (35) in the Electronic Production Equipment industry. This means that ON’s stock grew somewhat faster than COHU’s over the last 12 months.
COHU's P/E Growth Rating (5) in the Electronic Production Equipment industry is in the same range as ON (9) in the Semiconductors industry. This means that COHU’s stock grew similarly to ON’s over the last 12 months.
| COHU | ON | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 76% | 1 day ago 69% |
| Stochastic ODDS (%) | 1 day ago 69% | 1 day ago 82% |
| Momentum ODDS (%) | 1 day ago 69% | 1 day ago 83% |
| MACD ODDS (%) | 1 day ago 72% | 1 day ago 72% |
| TrendWeek ODDS (%) | 1 day ago 70% | 1 day ago 75% |
| TrendMonth ODDS (%) | 1 day ago 75% | 1 day ago 77% |
| Advances ODDS (%) | 3 days ago 73% | 9 days ago 74% |
| Declines ODDS (%) | 7 days ago 70% | 1 day ago 76% |
| BollingerBands ODDS (%) | 1 day ago 80% | 1 day ago 87% |
| Aroon ODDS (%) | 1 day ago 80% | 1 day ago 77% |
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| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| PBAU | 31.16 | N/A | N/A |
| PGIM S&P 500 Buffer 20 ETF - Aug | |||
| FNCL | 74.44 | -0.28 | -0.37% |
| Fidelity MSCI Financials ETF | |||
| VDIG | 61.08 | -0.63 | -1.02% |
| Vanguard Wellington Dividend Gr Actv ETF | |||
| KGRN | 25.36 | -0.41 | -1.60% |
| KraneShares MSCI China Clean Tech ETF | |||
| URTY | 72.70 | -2.35 | -3.13% |
| ProShares UltraPro Russell2000 | |||
COHU and
Correlation & Price change
A.I.dvisor indicates that over the last year, COHU has been closely correlated with DIOD. These tickers have moved in lockstep 73% of the time. This A.I.-generated data suggests there is a high statistical probability that if COHU jumps, then DIOD could also see price increases.
| Ticker / NAME | Correlation To COHU | 1D Price Change % | ||
|---|---|---|---|---|
| COHU | 100% | -0.87% | ||
| DIOD - COHU | 73% Closely correlated | -2.97% | ||
| POWI - COHU | 70% Closely correlated | -0.11% | ||
| UCTT - COHU | 69% Closely correlated | -1.19% | ||
| NXPI - COHU | 68% Closely correlated | -3.98% | ||
| SLAB - COHU | 68% Closely correlated | -0.45% | ||
More | ||||
ON and
Correlation & Price change
A.I.dvisor indicates that over the last year, ON has been closely correlated with MCHP. These tickers have moved in lockstep 74% of the time. This A.I.-generated data suggests there is a high statistical probability that if ON jumps, then MCHP could also see price increases.