Stifel analyst Brian Chin has meaningfully lowered his calendar 2019 revenue and earnings estimates for Cohu after the company reported December quarter results that were generally inline but gave lowered than expected revenue guidance for the March quarter. Management is optimistic for a stronger recovery beginning in the second half and he believes that estimates have likely bottomed, though the stock's risk-reward is "not yet compelling," Chin tells investors. He maintains a Hold rating on Cohu shares and trimmed his price target on the stock to $18.50 from $20.