The semiconductor industry is going through a challenging period thanks to a slowdown in economic activity. It has led to a decline in revenue for some of the world's top chip producers, including Advanced Micro Devices. 

The knock-on effects have also impacted semiconductor-service company Cohu (NASDAQ: COHU), which makes critical testing and handling equipment. It has seen a 16% drop in sales in the first six months of 2023 compared to the year-ago period. 

But the environment could be set to shift as the new year approaches, and analysts on Wall Street are predicting Cohu's revenue will return to growth in 2024. The company's stock currently trades about 26% below its all-time high and it's incredibly cheap compared to the broader market, so here's why this might be a great time for investors to buy ahead of the new year. 

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Source Fool.com