VIAV vs COHU Stock Comparison: AI Score, Valuation, Performance and Upside
VIAV (Viavi Solutions) provides test and measurement equipment for communications networks and optical security, while COHU provides semiconductor test handlers and inspection equipment for the back-end of semiconductor manufacturing. Both are cyclical industrial technology companies serving different test and measurement markets with different end-demand drivers.
VIAV vs COHU contrasts two test and measurement equipment companies serving different technology cycles — Viavi's telecom network and 5G capex cycle versus Cohu's semiconductor manufacturing cycle.
VIAV holds the edge across 5 of 5 key metrics in this comparison. VIAV leads on both 1-year return (+184.75%) and forward P/E quality (17.69x vs 24.42x for COHU), a relatively favorable combination of momentum and valuation. VIAV leads on both revenue growth (52.50%) and operating margin (14.31%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for VIAV (+78.05%) than for COHU (+57.22%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want network test equipment exposure leveraged to 5G deployment spending and fiber network build-out cycles
- Value Viavi's optical security film business as an uncorrelated, government-contract revenue stream
- See 5G and fiber densification as multi-year capex trends that sustain Viavi's network test equipment demand
- Want semiconductor test handler exposure with a growing emphasis on automotive semiconductor quality testing requirements
- Value Cohu's consumables (contactors, test sockets) as a recurring revenue stream alongside capital equipment cycle exposure
- See automotive chip content growth as a structural market development improving Cohu's mix toward high-reliability testing applications
| Metric | VIAV | COHU |
|---|---|---|
| AI scorei | 56.3 | 46.8 |
| AI ranki | #249 | #693 |
| Latest closei | $34.74 | $55.00 |
| 1M returni | -16.03% | -7.13% |
| 6M returni | +1.43% | +81.22% |
| 1Y returni | +184.75% | +150.68% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | VIAV | COHU |
|---|---|---|
| 1Y ago | $28.48K (+184.8%) started 2025-09-17 | $25.07K (+150.7%) started 2025-09-17 |
| 5Y ago | $21.89K (+118.9%) started 2021-09-17 | $16.44K (+64.4%) started 2021-09-17 |
| 10Y ago | $46.82K (+368.2%) started 2016-09-19 | $53.46K (+434.6%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | VIAV | COHU |
|---|---|---|
| Market capi | $8.51B | $2.13B |
| Trailing P/Ei | N/A | N/A |
| Forward P/Ei | 17.69 | 24.42 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 5.69 | 3.68 |
| Analyst targeti | $61.43 | $70.88 |
| Target upsidei | +78.05% | +57.22% |
| Metric | VIAV | COHU |
|---|---|---|
| Revenue growthi | 52.50% | 38.40% |
| Earnings growthi | 326.50% | N/A |
| EPS growthi | +326.50% | N/A |
| FCF margini | +10.45% | +12.69% |
| Operating margini | 14.31% | 0.62% |
| Profit margini | -2.00% | -7.43% |
| ROIC proxyi | -2.73% | -4.84% |
| Return on equityi | -2.73% | -4.84% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | No increase yet |
| Betai | 1.23 | 1.60 |
| Debt/equityi | 48.24 | 42.76 |
| Current ratioi | 1.85 | 5.74 |
| Quick ratioi | 1.51 | 4.52 |
Over the past year, VIAV and COHU have moved moderately in the same direction (correlation of 0.60), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | VIAV | COHU |
|---|---|---|---|
| 1Y | Growthi | +184.75% | +150.68% |
| CAGRi | +184.96% | +150.84% | |
| Volatilityi | 75.50% | 68.83% | |
| Sharpe ratioi | 1.70 | 1.62 | |
| Sortino ratioi | 2.82 | 2.39 | |
| Max drawdowni | 41.75% | 46.77% | |
| Current drawdowni | 37.21% | 25.59% | |
| Avg drawdowni | 10.40% | 10.63% | |
| Ulcer Indexi | 15.45% | 15.44% | |
| Max daily dropi | 12.72% | 14.24% | |
| Max wkly dropi | 23.72% | 29.48% | |
| 5Y | Growthi | +118.90% | +64.42% |
| CAGRi | +16.97% | +10.46% | |
| Volatilityi | 46.97% | 50.42% | |
| Sharpe ratioi | 0.47 | 0.36 | |
| Sortino ratioi | 0.72 | 0.53 | |
| Max drawdowni | 62.79% | 69.46% | |
| Current drawdowni | 37.21% | 25.59% | |
| Avg drawdowni | 31.90% | 28.05% | |
| Ulcer Indexi | 36.71% | 32.91% | |
| Max daily dropi | 23.20% | 14.24% | |
| Max wkly dropi | 30.53% | 29.48% | |
| 10Y | Growthi | +368.19% | +409.88% |
| CAGRi | +16.70% | +17.71% | |
| Volatilityi | 40.69% | 52.43% | |
| Sharpe ratioi | 0.47 | 0.49 | |
| Sortino ratioi | 0.71 | 0.71 | |
| Max drawdowni | 62.88% | 73.63% | |
| Current drawdowni | 37.21% | 25.59% | |
| Avg drawdowni | 21.55% | 30.79% | |
| Ulcer Indexi | 27.84% | 35.58% | |
| Max daily dropi | 23.20% | 25.53% | |
| Max wkly dropi | 30.53% | 38.77% |
| Category | VIAV | COHU |
|---|---|---|
| Company | Viavi Solutions Inc. | Cohu, Inc. |
| Sector | Technology | Technology |
| Industry | Communication Equipment | Semiconductor Equipment & Materials |
| Core business | Viavi Solutions provides test, measurement, and network performance monitoring equipment for communications networks (fiber optic, 5G, cloud), optical security films (used in banknotes and currency), and optical components for aerospace and defense. | Cohu provides semiconductor test handlers, contactors, and inspection equipment for testing integrated circuits after they're manufactured — enabling chip producers and packaging companies to identify and remove defective chips before they ship to customers. |
| Investor focus | Investors track Viavi's network and service enablement segment revenue tied to telecom 5G buildout spending, optical security segment profitability, and avionics/defense optical product performance. | Investors track Cohu's semiconductor test equipment revenue tied to chip production volumes and new product launches, particularly in automotive semiconductors where testing requirements are stringent, and consumable revenue from contactors. |
- Network test equipment is non-discretionary for telecom operators deploying and maintaining fiber and wireless networks — an essential capex spend
- Optical security division (anti-counterfeiting films used in currency) provides non-correlated revenue from government central bank contracts
- 5G network expansion drives sustained demand for Viavi's mobile network test and fiber test equipment as operators expand infrastructure
- Automotive semiconductor testing is a high-value, growing market as modern vehicles require more semiconductors with stringent quality and reliability requirements
- Consumables (contactors, test sockets) provide recurring, relatively high-margin revenue alongside capital equipment
- ISCO acquisition expanded Cohu's back-end semiconductor equipment capabilities and customer relationships
- Telecom operator capex cycles significantly affect network test equipment demand — budget reductions during slow macro periods hurt Viavi's service enablement revenue
- Optical security film contracts are government-dependent and can experience lumpy renewal timing
- Competition from EXFO and Spirent Communications in network test equipment markets
- Semiconductor equipment is highly cyclical — chip production slowdowns directly reduce demand for test handlers
- Competition from Advantest (largest global semiconductor test company) and smaller specialist test handler companies
- Chip production inventory corrections create periods of very low equipment demand as customers use existing capacity rather than purchasing new equipment
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