Market cap
$50.6B
at current price
Teradyne, Inc. · Common stock · North Reading, Massachusetts
The test every AI chip must pass, now twice the business it was a year ago.
Teradyne makes the machines that test chips before they ship, plus Universal Robots cobots and MiR mobile robots. AI demand lifted Q3 revenue 70% to $1.31B, above the top of guidance, with record memory and integrated-systems test and profitable Robotics. The catch is lumpiness and price: the Q4 guide of $1.25–1.35B is flat with Q3, inventory is rising, and the stock fell about 6% after hours on the report.
Last close · Oct 27, 2026
$323.68
52-week range
$144–488
closing low / high
P/E (trailing)
~37×
GAAP EPS $8.71 · ~30× next-year consensus EPS ~$10.84
Revenue TTM
Q4 2026 guide
$1.25–1.35B
adj. EPS $1.95–2.25 · GAAP $1.88–2.18
Next earnings
Late Jan
Q4 2026 and 2027 outlook · date not yet set
Price, last 12 months
Daily closes with the 50-day average. Teradyne has roughly doubled over the past year, but has swung between about $309 and $484 since June.
1Y closing high
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1Y closing low
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SMA 50
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SMA 200
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RSI 14
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Avg daily move
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last 20 sessions
Beta
1.75
vs. S&P 500
From peak
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Revenue and margins, by quarter
Revenue in US$ millions, with GAAP gross margin on the right axis. Teradyne's fiscal year is the calendar year (quarters end on the Sunday nearest the month end). Revenue sat near $600–750M a quarter from 2023 to 2025, then jumped on AI test demand. The last bar is the $1.30B midpoint of Q4 2026 guidance.
RevenueGross margin (right axis)Guidance
Q3 2026
$1.31B
+70% YoY · −2% QoQ · beat ~$1.27B
Semiconductor Test
$1.07B
third quarter above $1B · −4% QoQ
Memory and IST
Record
HBM, DRAM and hard-disk-drive test
Product Test
$138M
+29% QoQ · high-speed interconnect
Robotics
$96M
best Q3 ever · profitable
EPS
$2.17
GAAP · adj. $2.29 vs ~$2.07 est. · GM 59.1%
| Quarter | Ended | Revenue, US$M | YoY | Gross margin | Op. margin | EPS (GAAP) |
|---|
Watch list
What moves the thesis, sorted by direction.
Tailwind
AI across the chain
CEO Greg Smith said demand spanned the AI value chain, from memory and hard-disk-drive test to high-speed interconnect and robotics, lifting Q3 above the top of guidance.
Tailwind
Memory and HBM
Memory and Integrated Systems Test both set revenue records in Q3 on AI-related demand, after memory orders ran at over twice shipments in Q2.
Watch
Flat Q4 guide
The Q4 guide of $1.25–1.35B and $1.95–2.25 adjusted EPS beat consensus of about $1.28B and $2.03, but the midpoint is flat with Q3 and below Q2's $1.33B record. The call is on Oct 28.
Watch
Robotics turnaround
After a 2025 restructuring that cut about 150 jobs, Robotics posted its best Q3 at $96M and turned a profit. A U.S. factory is due to open later this year.
Risk
Lumpy orders and inventory
Test spending moves in big, uneven waves tied to a few chip makers; revenue fell from $951M in Q3 2021 to $600M in Q1 2024. Inventory days rose to about 98 from 69 in Q2.
Risk
Valuation and swings
At about 37 times trailing GAAP earnings, the stock still prices in growth. It is about a third below its $488 high, and fell about 6% after hours despite the beat.
Calendar
Oct 28, 2026
Q3 earnings call
8:30am ET (8:30pm SGT). Watch for comments on 2027 demand, compute order timing and inventory.
Q4 2026
U.S. robotics factory
Management said its U.S. manufacturing center for Robotics is on track to open later this year.
Late Jan 2027
Q4 2026 earnings
Guide: revenue $1.25–1.35B, adjusted EPS $1.95–2.25. Full-year 2026 results and the first read on 2027.