TER
Teradyne, Inc.

Teradyne, Inc.TER

Technology · Semiconductor Equipment & Materials
218.22USD
+2.58%
Nov 08, 2026
TER overview ready
Supplier of automated test systems for complex semiconductor devices
Teradyne is a semiconductor automated-test-equipment provider.
Theme not measured
Semiconductor Test Equipment has no leadership state this session.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to the level and quality of its cash generation.
Unremarkable fundamentals
Primary risk
Cyclicality of semiconductor capital expenditures.
Market Nov 6Filing Sep 27Price action Nov 7Research Jul 17

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction1.4BusinessPerformance4.0BusinessQuality8.1Valuation9.2ThemeMomentum—Decelerating — Revenue is still growing (+70% YoY), but growth has slowed, down from +104%. Diluted EPS is up 189% year over year ($2.17), but growth has slowed from +386%. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Semiconductor Test Equipment — Semiconductor Test Equipment is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Semiconductors, reads Lagging (−22.2pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$34.1B
Avg Volume (60D)
3.4M
60 sessions
Revenue Growth YoY
+13.1%
FY2025 vs FY2024
Gross Margin
+59.3%
Trailing twelve months
Operating Margin
+32.1%
Trailing twelve months
Free Cash Flow Yield
+3.0%
Distance from 200DMA
-37.6%
Next Earnings
2027-01-27
P/E
24.8x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 27, 2026
Filed balance-sheet data as of Sep 27, 2026

Business Performance

Decelerating

Revenue is still growing (+70% YoY), but growth has slowed, down from +104%. Diluted EPS is up 189% year over year ($2.17), but growth has slowed from +386%.

Latest reported: Q3 FY2026, ended Sep 27
Revenue growthSlowing
+70%
$1.31B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +44%
  2. +87%
  3. +104%
  4. +70%
Earnings growthSlowing
+189%
Diluted EPS $2.17 vs $0.75 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +81%
  2. +315%
  3. +386%
  4. +189%
Operating marginExpanding
30.8%
+11.9 pp YoY · gross margin 59.1% (+0.7 pp)

Business Quality

8.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

One of the two valuation perspectives says cheap; peers is the dissenting view.
Teradyne, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to the level and quality of its cash generation. It trades at a 3.0% free-cash-flow yield, which the underlying economics comfortably support.

Company Research

Thesis
Teradyne is a semiconductor automated-test-equipment provider. Its Semiconductor Test segment supplies systems used to test complex integrated circuits, including high-performance compute, communications, automotive, and memory-related devices; it also operates collaborative and mobile robotics businesses.
Opportunity
Moderate opportunity
New fab, OSAT, and semiconductor supply-chain investment requires production equipment, process-control tools, and automated test capacity to qualify and ship increasingly complex devices.
Key risk
Cyclicality of semiconductor capital expenditures.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Semiconductor Equipment & Materials
What they do

Teradyne designs, develops, manufactures, and sells automated test systems and robotics products globally, operating through Semiconductor Test, Robotics, and Other segments.

How it earns

Teradyne generates revenue primarily through transactional sales of test equipment and robotics systems.

Products & services
Semiconductor automated test systems
Robotics products
FLEX test platform
Customers & end markets
Semiconductor manufacturers
Automotive industry
Industrial sector
Communications sector
Consumer electronics
Smartphone manufacturers
Cloud computing
Computer and electronic gaming
Market position

Leader in semiconductor automated test equipment and collaborative/mobile robotics markets.

Demand drivers
High cyclicality

Business is closely tied to semiconductor industry capital spending cycles and technology investment trends.