Analyst Consensus ?
ConsensusBuy28 ratings
Bullish1864.3%
Neutral1035.7%
Bearish00.0%
2 unmapped firm ratings excluded from the percentages.
Teradyne, Inc. · TER · FY2025 Q3 · Calendar Q4 2025
Teradyne: AI demand lifts Q3; Q4 outlook rises
The current evidence supports a constructive but qualified view: AI compute, networking and memory demand are driving Teradyne's growth and the Q4 outlook, while weak robotics and mobile demand, customer concentration and ramp-related cost pressure temper the picture.
Reported After market closeNASDAQTechnology
$70.20B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.85
Consensus $0.79
EPS surprise
+7.6%
Reported versus consensus
Reported revenue
$769.2M
Consensus $744.1M
Revenue surprise
+3.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+20.5%
Event window
SPY move
+0.0%
Same window
Abnormal move
+20.4%
Stock minus SPY
Volume
3.9×
Versus trailing sessions
Subsequent drift
+3.1%
Up to 20 sessions
TERSPY benchmark
Ask FN2 about TER FY2025 Q3
Transcript, numbers and history already loaded
Why did TER rise 20.5% after beating EPS estimates in FY2025 Q3?What changed in TER's guidance and outlook in FY2025 Q3?Give me the bull and bear case for TER after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management reported a stronger Q3 outcome and a higher Q4 sales and EPS outlook. The analysis also points to AI-driven compute expectations rising materially, memory test revenue more than doubling sequentially, and continued capacity expansion, while robotics and mobile remain weak.
Guidance delta
Maintained; Q4 sales guidance is $920M-$1.0B with non-GAAP EPS guidance of $1.20-$1.46 and margins of 57%-58%.
Key takeaways
- Q3 revenue and non-GAAP EPS exceeded the high end of guidance.
- AI compute, networking and memory demand remain the central growth drivers.
- Robotics and mobile remain weak, while management is emphasizing AI-enabled cobots and service revenue.
- Capacity expansion and continued R&D support the AI-related ramp, but may weigh on margins.
- Cash generation supported share repurchases, a dividend and a $427M cash balance.
Management priorities
- Expand manufacturing capacity across multiple geographies.
- Ramp UltraFLEXplus and Magnum 7H volume shipments.
- Increase service revenue from the installed robotics fleet.
- Continue R&D investment in compute and memory test capabilities.
- Maintain disciplined capital allocation with buybacks and dividends.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$449.04Current
$116Low
$270.42Average
$550High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Baird | Neutral | Outperform | Downgrade | Aug 21, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 30, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 30, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jul 29, 2026 |
| UBS | Buy | Buy | Maintain | Jul 20, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 6, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jun 30, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jun 23, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Apr 30, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 30, 2026 |
| Stifel | Buy | Buy | Maintain | Apr 28, 2026 |
| Keybanc | Overweight | Downgrade | Apr 17, 2025 | |
| Northland Capital Markets | Outperform | Outperform | Maintain | Jan 31, 2025 |
| Craig-Hallum | Hold | Hold | Maintain | Oct 25, 2024 |
| TD Cowen | Outperform | Outperform | Maintain | Oct 27, 2023 |
| Loop Capital | Hold | Hold | Maintain | May 1, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Apr 28, 2023 |
| Piper Sandler | Neutral | Neutral | Maintain | Apr 11, 2023 |
| Jefferies | Buy | Buy | Maintain | Jan 27, 2023 |
| DA Davidson | Buy | Buy | Maintain | Jul 27, 2022 |
| Rosenblatt | Buy | Buy | Maintain | Apr 28, 2022 |
| Credit Suisse | Neutral | Neutral | Maintain | Jan 28, 2022 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Oct 28, 2021 |
| CFRA | Hold | Hold | Maintain | Apr 22, 2020 |
| Citi | Buy | Buy | Maintain | Oct 25, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Oct 24, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Nov 20, 2018 |
| Pacific Crest | Overweight | Downgrade | Oct 29, 2015 | |
| Sidoti & Co. | Buy | Buy | Maintain | Sep 23, 2015 |
| ISI Group | Neutral | Buy | Downgrade | Oct 3, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $449.04. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $397 | $361.79 | -11.6% | Jul 30, 2026 |
| Robert W. Baird | Quinn Fredrickson | $420 | $359.71 | -6.5% | Jul 30, 2026 |
| Evercore ISI | Vedvati Shrotre | $420 | $357.42 | -6.5% | Jul 30, 2026 |
| Goldman Sachs | Analyst unavailable | $465 | $320.65 | +3.6% | Jul 28, 2026 |
| UBS | Timothy Arcuri | $500 | $340.06 | +11.3% | Jul 20, 2026 |
| Susquehanna | Analyst unavailable | $550 | $463.21 | +22.5% | Jun 30, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $550 | $436.86 | +22.5% | Jun 29, 2026 |
| Robert W. Baird | Analyst unavailable | $446 | $457 | -0.7% | Jun 23, 2026 |
| Morgan Stanley | Shane Brett | $387 | $351.03 | -13.8% | Apr 30, 2026 |
| Evercore ISI | Vedvati Shrotre | $370 | $345.56 | -17.6% | Apr 30, 2026 |
| Goldman Sachs | Analyst unavailable | $350 | $348.74 | -22.1% | Apr 30, 2026 |
| Robert W. Baird | Analyst unavailable | $350 | $306.33 | -22.1% | Apr 30, 2026 |
| Stifel Nicolaus | Brian Chin | $390 | $402 | -13.1% | Apr 28, 2026 |
| Evercore ISI | Analyst unavailable | $430 | $401.98 | -4.2% | Apr 27, 2026 |
| UBS | Analyst unavailable | $440 | $375.21 | -2.0% | Apr 21, 2026 |
| Susquehanna | Analyst unavailable | $415 | $364.21 | -7.6% | Apr 9, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $400 | $364.21 | -10.9% | Apr 9, 2026 |
| Morgan Stanley | Shane Brett | $306 | $318.09 | -31.9% | Feb 11, 2026 |
| Northland Securities | Gus Richard | $270 | $281.29 | -39.9% | Feb 4, 2026 |
| Stifel Nicolaus | Brian Chin | $325 | $280.38 | -27.6% | Feb 4, 2026 |
| Susquehanna | Analyst unavailable | $335 | $279.6 | -25.4% | Feb 4, 2026 |
| Robert W. Baird | Analyst unavailable | $305 | $282.98 | -32.1% | Feb 4, 2026 |
| Goldman Sachs | Analyst unavailable | $300 | $282.98 | -33.2% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $288 | $282.98 | -35.9% | Feb 3, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $270 | $278.68 | -39.9% | Feb 3, 2026 |
| Evercore ISI | Analyst unavailable | $280 | $246.76 | -37.6% | Feb 2, 2026 |
| RBC Capital | Analyst unavailable | $270 | $252.9 | -39.9% | Feb 2, 2026 |
| Stifel Nicolaus | Analyst unavailable | $280 | $251.87 | -37.6% | Jan 30, 2026 |
| UBS | Analyst unavailable | $275 | $234.49 | -38.8% | Jan 26, 2026 |
| Stifel Nicolaus | Analyst unavailable | $270 | $226.08 | -39.9% | Jan 14, 2026 |
| Susquehanna | Analyst unavailable | $275 | $217.26 | -38.8% | Jan 12, 2026 |
| Vertical Research | Robert Jamieson | $220 | $218.05 | -51.0% | Jan 9, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $240 | $190.54 | -46.6% | Dec 16, 2025 |
| Goldman Sachs | James Schneider | $230 | $193.4 | -48.8% | Dec 15, 2025 |
| Stifel Nicolaus | Analyst unavailable | $225 | $179.63 | -49.9% | Dec 2, 2025 |
| Robert W. Baird | Richard Eastman | $195 | $184.17 | -56.6% | Oct 31, 2025 |
| UBS | Timothy Arcuri | $200 | $174.76 | -55.5% | Oct 30, 2025 |
| Susquehanna | Brian Chin | $215 | $174.76 | -52.1% | Oct 30, 2025 |
| Goldman Sachs | Analyst unavailable | $148 | $174.61 | -67.0% | Oct 30, 2025 |
| Northland Securities | Gus Richard | $186 | $173.94 | -58.6% | Oct 30, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $180 | $173.25 | -59.9% | Oct 29, 2025 |
| Industrial Alliance Securities | Analyst unavailable | $175 | $146.02 | -61.0% | Oct 28, 2025 |
| UBS | Analyst unavailable | $165 | $138.16 | -63.3% | Oct 20, 2025 |
| Morgan Stanley | Shane Brett | $136 | $139.13 | -69.7% | Oct 14, 2025 |
| Stifel Nicolaus | Analyst unavailable | $119 | $132.08 | -73.5% | Oct 13, 2025 |
| Northland Securities | Gus Richard | $161 | $141.17 | -64.1% | Oct 7, 2025 |
| Susquehanna | Mehdi Hosseini | $200 | $119.85 | -55.5% | Sep 22, 2025 |
| Goldman Sachs | Analyst unavailable | $85 | $107.65 | -81.1% | Jul 30, 2025 |
| Morgan Stanley | Analyst unavailable | $100 | $107.65 | -77.7% | Jul 30, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $105 | $90.39 | -76.6% | Jun 24, 2025 |
| Morgan Stanley | Analyst unavailable | $81 | $86.74 | -82.0% | Mar 14, 2025 |
| UBS | Timothy Arcuri | $130 | $87.16 | -71.0% | Mar 12, 2025 |
| Stifel Nicolaus | Brian Chin | $110 | $87.07 | -75.5% | Mar 12, 2025 |
| Vertical Research | Analyst unavailable | $135 | $108.54 | -69.9% | Mar 7, 2025 |
| Susquehanna | Mehdi Hosseini | $165 | $135.88 | -63.3% | Jan 22, 2025 |
| Robert W. Baird | Richard Eastman | $140 | $127.94 | -68.8% | Jul 29, 2024 |
| Citigroup | Atif Malik | $162 | $125.23 | -63.9% | Jul 26, 2024 |
| Craig-Hallum | Christian Schwab | $124 | $125.69 | -72.4% | Jul 26, 2024 |
| Susquehanna | Mehdi Hosseini | $145 | $124.34 | -67.7% | Jul 26, 2024 |
| Northland Securities | Gus Richard | $126 | $125 | -71.9% | Jul 26, 2024 |
| Stifel Nicolaus | Brian Chin | $140 | $124.34 | -68.8% | Jul 25, 2024 |
| Northland Securities | Gus Richard | $136 | $151.45 | -69.7% | Jul 18, 2024 |
| KeyBanc | Steve Barger | $180 | $154.8 | -59.9% | Jul 12, 2024 |
| UBS | Timothy Arcuri | $170 | $144.74 | -62.1% | Jun 18, 2024 |
| KeyBanc | Steve Barger | $149 | $139.51 | -66.8% | May 21, 2024 |
| Goldman Sachs | Toshiya Hari | $161 | $131.91 | -64.1% | May 20, 2024 |
| Morgan Stanley | Joseph Moore | $116 | $108.33 | -74.2% | Apr 8, 2024 |
| Citigroup | Analyst unavailable | $125 | $107.99 | -72.2% | Feb 6, 2023 |
| Goldman Sachs | Toshiya Hari | $106 | $96.08 | -76.4% | Jul 27, 2022 |
| Goldman Sachs | Toshiya Hari | $149 | $106.88 | -66.8% | Mar 12, 2022 |
| Craig-Hallum | Christian Schwab | $138 | $112.12 | -69.3% | Jan 30, 2022 |
| Robert W. Baird | Robert Mason CFA | $142 | $112.02 | -68.4% | Jan 28, 2022 |
| Rosenblatt Securities | Kevin Garrigan | $165 | $111.14 | -63.3% | Jan 27, 2022 |
| Susquehanna | Mehdi Hosseini | $150 | $111.14 | -66.6% | Jan 27, 2022 |
| Deutsche Bank | Sidney Ho | $120 | $111.14 | -73.3% | Jan 27, 2022 |
| Loop Capital Markets | Scott Graham | $202 | $158.1 | -55.0% | Jan 13, 2022 |
| Bank of America Securities | Vivek Arya | $205 | $156.46 | -54.3% | Jan 10, 2022 |
| Cowen & Co. | Krish Sankar | $150 | $136.79 | -66.6% | Oct 28, 2021 |
| D.A. Davidson | Thomas Diffely | $140 | $111.25 | -68.8% | Oct 7, 2021 |
| Wolfe Research | Blake Gendron | $158 | $131.98 | -64.8% | Apr 28, 2021 |
Track every rating change on TER the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTeradyne, Inc., established in 1960 and headquartered in North Reading, Massachusetts, is a global leader specializing in the creation, production, sale, and maintenance of automated testing solutions. The company's operations are categorized into four principal divisions: 1. Semiconductor Test: This segment delivers solutions for testing microchips at both the wafer and finished device package stages. These capabilities serve a wide array of sectors, including automotive, industrial, telecommunications, consumer electronics, mobile devices, cloud computing, and gaming. Notable offerings include the FLEX test platform, the J750 system for high-volume semiconductor testing, the Magnum platform specialized for memory components like flash and DRAM, and the ETS platform, which caters to the analog/mixed-signal markets for chip makers and outsourced assembly/test providers.…
Historical context
All TER earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
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Get the TER recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T17:00:41.913416+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T17:00:41.910613+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.