IMOS vs ONTO vs COHU vs FORM

For growth investors, Cohu, Inc.

(COHU) is the stronger pick with 12. 7% revenue growth year-over-year, versus 1. 8% for Onto Innovation Inc. (ONTO). ChipMOS TECHNOLOGIES Inc. (IMOS) offers the better valuation at 48. 2x trailing P/E (0. 8x forward), making it the more compelling value choice. Analysts rate Onto Innovation Inc. (ONTO) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, ChipMOS TECHNOLOGIES Inc.

(IMOS) is the cheapest at 48. 2x versus FormFactor, Inc. at 209. 7x. On forward P/E, ChipMOS TECHNOLOGIES Inc. is actually cheaper at 0. 8x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: ChipMOS TECHNOLOGIES Inc. wins at 0. 01x versus Onto Innovation Inc. 's 1. 12x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Onto Innovation Inc.

(ONTO) delivered a total return of +312. 6%, compared to +22. 2% for Cohu, Inc. (COHU). Over 10 years, the gap is even starker: FORM returned +1952% versus IMOS's +301. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), ChipMOS TECHNOLOGIES Inc.

(IMOS) is the lower-risk stock at 1. 36β versus Onto Innovation Inc. 's 2. 66β — meaning ONTO is approximately 96% more volatile than IMOS relative to the S&P 500. On balance sheet safety, Onto Innovation Inc. (ONTO) carries a lower debt/equity ratio of 1% versus 61% for ChipMOS TECHNOLOGIES Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Cohu, Inc.

(COHU) is pulling ahead at 12. 7% versus 1. 8% for Onto Innovation Inc. (ONTO). On earnings-per-share growth, the picture is similar: Cohu, Inc. grew EPS -6. 7% year-over-year, compared to -31. 5% for Onto Innovation Inc.. Over a 3-year CAGR, FORM leads at 1. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Onto Innovation Inc.

(ONTO) is the more profitable company, earning 13. 6% net margin versus -16. 4% for Cohu, Inc. — meaning it keeps 13. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ONTO leads at 13. 2% versus -13. 3% for COHU. At the gross margin level — before operating expenses — ONTO leads at 49. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, ChipMOS TECHNOLOGIES Inc. (IMOS) is the more undervalued stock at a PEG of 0. 01x versus Onto Innovation Inc. 's 1. 12x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, ChipMOS TECHNOLOGIES Inc. (IMOS) trades at 0. 8x forward P/E versus 89. 2x for Cohu, Inc. — 88. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ONTO: 12. 5% to $308. 33.

In this comparison, IMOS (1.

9% yield) pays a dividend. ONTO, COHU, FORM do not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, ChipMOS TECHNOLOGIES Inc.

(IMOS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (1. 9% yield, +301. 1% 10Y return). Cohu, Inc. (COHU) carries a higher beta of 2. 13 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (IMOS: +301. 1%, COHU: +330. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

IMOS pays a dividend while ONTO, COHU, FORM do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.