📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

Shareholding

About

Teradyne, Inc. engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding TER

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	2.28M	$677.3M	0.87%	Mar 2026
Cathie Wood ARK Investment Management	1.25M	$369.1M	2.87%	Mar 2026
Jim Simons Renaissance Technologies LLC	164.9K	$48.9M	0.08%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

driven by AI compute demand. Phrases like 'significantly more confident than we were 90 days ago', 'demand trends in AI compute have strengthened', and 'visibility is improving' show clear conviction. Management quantified milestones such as an HBM4 post-stack singulated die win and a plan-of-record decision from a large robotics customer.

Q3 2025

Mixed

specific growth percentages (e.g., 18% sequential revenue growth, 49% EPS growth), and gave explicit Q4 guidance ranges ($920M-$1B revenue, $1.20-$1.46 EPS). They repeatedly attributed strength to AI demand in compute and memory, with concrete split (2/3 compute, 1/3 memory). Cautious language about lumpiness and uncertainty in timing was present but secondary to the positive specificity.

Q4 2025

Mixed

EPS $1.80) and set a record Q1 outlook ($1.15-$1.25B). They quantified AI's share of revenue (60%+ Q4, 70%+ Q1 2026) and detailed a new target model ($6B revenue at $12-$14B ATE TAM). No hedging or defensive language.

Q1 2026 latest

Mixed

'exceptional', 'strong', 'momentum' and gave specific numbers: revenue $1.282B, EPS $2.56, AI revenue 70% of total. They detailed drivers and acknowledged lumpiness but remained upbeat.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Teradyne delivered record revenue and EPS, with AI demand driving nearly 70% of sales and broad-based strength across Semi Test, memory, robotics, and new product areas. The wafer-to-data-center strategy is gaining traction, including the first merchant GPU production orders, and the company is expanding its TAM via Photon 100 and Omnyx. However, management's cautious second-half visibility and lumpy order patterns introduce near-term uncertainty. The target model of $6B revenue and $9.50-$11.00 EPS remains intact but relies on continued AI momentum. Key questions for next quarter: whether GPU orders convert to revenue as planned, if networking and memory sustain strength, and whether Q2 margins normalize as guided. Overall, the call supports a bullish long-term view but with modest near-term volatility.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

Good quarter Investor Presentation One-Pager? Q1 2026

Revenue

$1.282B

+87% YoY

Operating Income

$480M

Not provided

Operating Margin

37.5%

+370 bps sequentially

Net Income (Non-GAAP)

$402.9M

+241% YoY (EPS)

What Went Right

Record revenue and EPS, above high end of guidance.
AI-related revenue reached ~70% of total, up from ~60% in Q4.
Semi Test revenue broke $1B for first time, up over 100% YoY.

What to Watch

Increasing customer concentration and lumpy demand pattern.
Limited visibility into H2, with 55%-60% revenue expected in H1.
Gross margin expected to normalize to 58%-59% in Q2 from 60.9% in Q1.

Management Guidance

Q2 revenue guidance: $1.15B-$1.25B.
Q2 non-GAAP EPS guidance: $1.86-$2.15.
Full year target model: $6B revenue and $9.50-$11.00 non-GAAP EPS.

Investor Lens

The thesis is stronger after the record quarter, as AI demand remains robust and the wafer-to-data-center strategy is gaining traction. However, management's cautious second-half visibility and warnings about lumpiness suggest near-term volatility. The dual-source merchant GPU win and new product launches (Photon 100, Omnyx) support mid-term growth, but execution on fast-follower strategy is key.

From investor presentation · AI-generated analysis · Not investment advice

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📈 STRONG Record Q1 with 87% YoY revenue growth, AI momentum intact.

Revenue

Revenue was $1.282B, up 87% YoY and 18% sequentially, above guidance. Semi Test contributed $1.111B (SoC $882M, Memory $203M, IST $27M), Product Test $80M, Robotics $91M. AI-related demand was ~70% of total revenue.

Profitability

Non-GAAP net income was $402.9M ($2.56 EPS), up 241% YoY from $0.75 EPS. GAAP net income was $398.9M ($2.53 EPS). Record operating income of $480M.

Margins

Gross margin was 60.9%, up 370 bps sequentially, driven by volume and mix. Operating margin was 37.5%, an all-time record. Q2 gross margin guided to 58%-59% due to normalization of one-time benefits.

Balance Sheet

Cash and investments ~$400M. CapEx flat YoY; Q2 expected to increase. Used ~$165M in cash for acquisitions (Multi-Lane JV and TestInsight) funded via revolver. Paid $20M dividends, buybacks de minimis.

Key Risks

Lumpy demand from large customers could cause quarterly swings. H2 visibility limited; 55%-60% of annual revenue expected in H1. Supply chain and customer acceptance delays could affect timing.

Outlook

Q2 revenue guided to $1.15B-$1.25B with non-GAAP EPS $1.86-$2.15. Full year target model of $6B revenue and $9.50-$11.00 non-GAAP EPS remains unchanged. Expect AI-driven growth to continue but with potential timing fluctuations.

Generated by AI · Q1 2026 results · Not investment advice

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