--- title: "Cohu's CEO sold $6.7 million of stock near the $74.69 all-time high; the stock has fallen to $50.81" description: "Cohu reports Q3 on October 28 and stages an AMD-keynoted Investor Day on November 10, while the CEO's $6.7 million in sales near the $74.69 peak now sit above every buyer's entry since the sell-off." publisher: "The Inference" section: "Markets" published: 2026-10-20T21:20:15.415Z modified: 2026-10-20T21:20:15.415Z canonical: https://theinference.org/article/cohu-s-ceo-sold-6-7-million-of-stock-near-the-74-69-all-time-high-the-stock-has-fallen-to-50-81 language: en keywords: "Semiconductors, Markets, Insider Sales, Earnings" --- # Cohu's CEO sold $6.7 million of stock near the $74.69 all-time high; the stock has fallen to $50.81 > Cohu reports Q3 on October 28 and stages an AMD-keynoted Investor Day on November 10, while the CEO's $6.7 million in sales near the $74.69 peak now sit above every buyer's entry since the sell-off. [Cohu](https://theinference.org/markets/companies/cohu)'s CEO sold $6.7 million of stock within two dollars of the all-time high, six days before the company [announced an Investor Day](https://finance.yahoo.com/technology/articles/cohu-host-investor-day-november-120000074.html) whose keynote comes from its own largest customer. Now the stock has fallen below every price he sold at, and the next three weeks decide which signal was the real one. ## The exits, priced at the top Luis Muller, president and CEO of Cohu, the San Diego maker of semiconductor test handlers and inspection equipment, sold 104,692 shares across three tranches between September 21 and October 2, at $60, $65 and $73 per share. His last sale landed $1.69 below the $74.69 all-time high, and six days later Cohu announced a November 10 Investor Day in New York featuring a keynote from [AMD](https://theinference.org/markets/companies/amd), which Cohu itself calls one of its largest customers and a global AI computing leader [1]. Over 90 days, insiders sold $8.32 million net and not one bought a share [1]. ## The stock has answered so far A semiconductor-wide sell-off [dragged COHU from that peak to $50.81 by October 16](https://tickeron.com/blogs/cohu-cohu-raises-2026-hpc-outlook-as-ai-and-hbm-momentum-build-19541/) [2], well under all three of the CEO's exit prices. [Nearly 23% of the float is short](https://www.basisreport.com/news/cohu-ceo-exits-stock-before-investor-day) [1], betting against a 31.5x forward valuation built on trailing GAAP earnings that are negative [1]. *Chart: **COHU now trades below every price the CEO sold at** Bar chart comparing Luis Muller's three sale prices ($60 on September 21, $65 on September 25, $73 on October 2) with COHU's October 16 close of $50.81, showing the current price below every exit.* *Share prices in US dollars: CEO Luis Muller's three open-market sale prices in September and October 2026, against COHU's closing price on October 16, 2026. Sources: Basis Report Form 4 filings coverage [1]; Tickeron market data [2]. [1][2]* ## The bulls' case is a pipeline, not a P&L Management raised its 2026 high-performance computing revenue outlook to roughly $100–110 million, anchored by the Eclipse thermal-handler platform and a stated pipeline near $850 million across 15 to 19 computing customers, including a $26 million Eclipse order received early in the third quarter [2]. HBM-related revenue, tied to high-bandwidth memory inspection, is expected to grow about 80% this year [2]. That is the plan; the income statement has not confirmed it, and results have swung from a large Q4 2025 miss to a wide Q2 2026 beat [1]. ## Three weeks that settle it Cohu reports third-quarter results on October 28, then presents financial targets under AMD's imprimatur on November 10 [3]. If the orders convert, the shorts cover. If they do not, Muller's peak-priced exits become the story. ## Takeaway Muller's $6.7 million of sales at $60, $65 and $73 now sit above every entry since the stock fell to $50.81; October 28 earnings and the November 10 Investor Day decide whether the $850 million pipeline converts. ## Sources 1. [Basis Report, Cohu CEO Exits Stock Peak Before AMD-Led Investor Day, October 14, 2026](https://www.basisreport.com/news/cohu-ceo-exits-stock-before-investor-day) 2. [Tickeron, Cohu (COHU) Raises 2026 HPC Outlook as AI and HBM Momentum Build, October 17, 2026](https://tickeron.com/blogs/cohu-cohu-raises-2026-hpc-outlook-as-ai-and-hbm-momentum-build-19541/) 3. [Business Wire via Yahoo Finance, Cohu to Host Investor Day on November 10, 2026, October 8, 2026](https://finance.yahoo.com/technology/articles/cohu-host-investor-day-november-120000074.html) --- Cohu's CEO sold $6.7 million of stock near the $74.69 all-time high; the stock has fallen to $50.81 — The Inference. Canonical: https://theinference.org/article/cohu-s-ceo-sold-6-7-million-of-stock-near-the-74-69-all-time-high-the-stock-has-fallen-to-50-81