A Cohu Director Sold Over 10,000 Company Shares. Here's a Closer Look at the Transaction.
Key Points
Director Steven Bilodeau sold 10,257 shares for a transaction value of ~$460,000 on May 20, 2026, at a reported price of $44.85 per share.
This sale represented 16.40% of his direct holdings at the time, reducing his directly owned shares from 62,529 to 52,272.
All shares disposed were held directly; no indirect entities or derivative securities were involved in this transaction.
The transaction continues a net selling cadence observed over the past two years, with trade size consistent with reduced remaining share capacity.
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Steven J. Bilodeau, a member of the Board of Directors of Cohu (NASDAQ:COHU), reported the sale of 10,257 shares in an open-market transaction on May 20, 2026, according to an SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 10,257 |
| Transaction value | $460,000 |
| Post-transaction shares (direct) | 52,272 |
| Post-transaction value (direct ownership) | $2.35 million |
Transaction value based on SEC Form 4 reported price ($44.85); post-transaction value based on May 20, 2026 market close ($44.98).
Key questions
- How does this transaction compare to Bilodeau's historical selling pattern?
Over the past four open-market sales, the average trade size was ~7,900 shares; this transaction at 10,257 shares is above that mean but reflects a higher percentage of remaining holdings, consistent with a shrinking base of available shares. - What is the impact on Bilodeau’s total direct ownership and capacity for further sales?
Bilodeau’s direct stake decreased by 16.40% following the transaction, leaving him with 52,272 shares, or approximately $2.35 million in market value as of May 20, 2026, and no indirect or derivative holdings reported. - Did the sale coincide with material changes in Cohu’s stock price or market environment?
The sale was executed at $44.85 per share, with Cohu closing at $44.98 that day and up 153.3% year-over-year as of the transaction date, indicating strong price performance but no sharp intra-day movement linked to this trade.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-05-20) | $44.98 |
| Market capitalization | $2.20 billion |
| Revenue (TTM) | $481.28 million |
| 1-year price change | 153.3% |
* 1-year price change calculated using May 20th, 2026 as the reference date.
Company snapshot
- Cohu offers semiconductor test and inspection handlers, MEMS test modules, thermal sub-systems, interface products, and data analytics software for semiconductor and electronics manufacturers.
- It generates revenue primarily through the sale of automated test equipment, interface products, spares, and related services, including software and consulting.
- The company serves integrated device manufacturers, outsourced semiconductor assembly and test companies, and electronics manufacturers globally, with a significant presence in Asia and North America.
Cohu is a leading provider of semiconductor test equipment and related services, operating at scale with nearly 3,000 employees and a global customer base.
The company leverages a diversified product portfolio to address the evolving needs of semiconductor and electronics manufacturers, focusing on automation, test efficiency, and data-driven performance optimization.
What this transaction means for investors
The May 20 sale of Cohu stock by Director Steven Bilodeau came at a time when shares were rising after a solid first-quarter earnings report. The stock would eventually climb to a multi-year high of $70.92 on June 22.
Bilodeau was likely capitalizing on the share price growth to capture some gains. He retained over 50,000 shares after this disposition, maintaining a sizable equity stake in the company. Some of those shares were not vested at the time of his transaction, meaning he could not sell them immediately.
Cohu stock is up thanks to its position as a provider of test and inspection solutions for the semiconductor industry. With the advent of artificial intelligence, the company’s offerings are in high demand.
This is illustrated in Cohu’s revenue of $125.1 million in its fiscal first quarter ended March 28, up from the prior year’s $96.8 million. The company expects sales to accelerate in its fiscal second quarter to around $144 million.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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