Analyst Consensus ?
ConsensusBuy28 ratings
Bullish1864.3%
Neutral1035.7%
Bearish00.0%
2 unmapped firm ratings excluded from the percentages.
Teradyne, Inc. · TER · FY2025 Q4 · Calendar Q1 2026
Teradyne: AI Demand Drives Record Q4 Revenue and New Long-Term Target
The supplied analysis supports a constructive but conditional view: AI-led semiconductor-test demand is broadening across compute, memory, networking, and edge AI, while robotics is improving. The one-year case still depends on sustained AI investment, execution on new products and the MultiLane venture, and whether concentrated, lumpy demand translates into durable share gains.
Reported After market closeNASDAQTechnology
$62.74B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.80
Consensus $1.38
EPS surprise
+30.4%
Reported versus consensus
Reported revenue
$1.08B
Consensus $977.2M
Revenue surprise
+10.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+13.4%
Event window
SPY move
-0.8%
Same window
Abnormal move
+14.3%
Stock minus SPY
Volume
3.9×
Versus trailing sessions
Subsequent drift
+7.9%
Up to 20 sessions
TERSPY benchmark
Ask FN2 about TER FY2025 Q4
Transcript, numbers and history already loaded
Why did TER rise 13.4% after beating EPS estimates in FY2025 Q4?What changed in TER's guidance and outlook in FY2025 Q4?Give me the bull and bear case for TER after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, Teradyne reported a record Q4, described AI as more than 60% of quarterly revenue, introduced a $6 billion revenue target framework, and highlighted the MultiLane joint venture. Robotics also moved closer to breakeven, while demand concentration and second-half visibility remained concerns.
Guidance delta
Management maintained its guidance stance; the supplied analysis does not identify a new quantitative guidance change.
Key takeaways
- Q4 2025 revenue reached a quarterly record, with AI-related demand the primary growth engine.
- Management said AI represented more than 60% of Q4 revenue and expected it to exceed 70% in Q1 2026.
- The MultiLane joint venture expands Teradyne's data-center test capabilities.
- Robotics was described as moving toward breakeven, with a large e-commerce customer expected to triple revenue in 2026.
- Management introduced an evergreen model targeting $6 billion of revenue at a $12 billion-$14 billion ATE TAM.
Management priorities
- Continue gaining share in compute, memory, and networking test.
- Close and integrate the MultiLane joint venture in the first half of 2026.
- Ramp new HDD, compute SLT, and IST customers.
- Advance robotics AI capabilities and expand e-commerce deployments.
- Use buybacks and maintain cash for opportunistic M&A.
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Analyst 52W Price Targets
$403.02Current
$116Low
$270.42Average
$550High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 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 $403.02. 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 | -1.5% | Jul 30, 2026 |
| Robert W. Baird | Quinn Fredrickson | $420 | $359.71 | +4.2% | Jul 30, 2026 |
| Evercore ISI | Vedvati Shrotre | $420 | $357.42 | +4.2% | Jul 30, 2026 |
| Goldman Sachs | Analyst unavailable | $465 | $320.65 | +15.4% | Jul 28, 2026 |
| UBS | Timothy Arcuri | $500 | $340.06 | +24.1% | Jul 20, 2026 |
| Susquehanna | Analyst unavailable | $550 | $463.21 | +36.5% | Jun 30, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $550 | $436.86 | +36.5% | Jun 29, 2026 |
| Robert W. Baird | Analyst unavailable | $446 | $457 | +10.7% | Jun 23, 2026 |
| Morgan Stanley | Shane Brett | $387 | $351.03 | -4.0% | Apr 30, 2026 |
| Evercore ISI | Vedvati Shrotre | $370 | $345.56 | -8.2% | Apr 30, 2026 |
| Goldman Sachs | Analyst unavailable | $350 | $348.74 | -13.2% | Apr 30, 2026 |
| Robert W. Baird | Analyst unavailable | $350 | $306.33 | -13.2% | Apr 30, 2026 |
| Stifel Nicolaus | Brian Chin | $390 | $402 | -3.2% | Apr 28, 2026 |
| Evercore ISI | Analyst unavailable | $430 | $401.98 | +6.7% | Apr 27, 2026 |
| UBS | Analyst unavailable | $440 | $375.21 | +9.2% | Apr 21, 2026 |
| Susquehanna | Analyst unavailable | $415 | $364.21 | +3.0% | Apr 9, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $400 | $364.21 | -0.7% | Apr 9, 2026 |
| Morgan Stanley | Shane Brett | $306 | $318.09 | -24.1% | Feb 11, 2026 |
| Northland Securities | Gus Richard | $270 | $281.29 | -33.0% | Feb 4, 2026 |
| Stifel Nicolaus | Brian Chin | $325 | $280.38 | -19.4% | Feb 4, 2026 |
| Susquehanna | Analyst unavailable | $335 | $279.6 | -16.9% | Feb 4, 2026 |
| Robert W. Baird | Analyst unavailable | $305 | $282.98 | -24.3% | Feb 4, 2026 |
| Goldman Sachs | Analyst unavailable | $300 | $282.98 | -25.6% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $288 | $282.98 | -28.5% | Feb 3, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $270 | $278.68 | -33.0% | Feb 3, 2026 |
| Evercore ISI | Analyst unavailable | $280 | $246.76 | -30.5% | Feb 2, 2026 |
| RBC Capital | Analyst unavailable | $270 | $252.9 | -33.0% | Feb 2, 2026 |
| Stifel Nicolaus | Analyst unavailable | $280 | $251.87 | -30.5% | Jan 30, 2026 |
| UBS | Analyst unavailable | $275 | $234.49 | -31.8% | Jan 26, 2026 |
| Stifel Nicolaus | Analyst unavailable | $270 | $226.08 | -33.0% | Jan 14, 2026 |
| Susquehanna | Analyst unavailable | $275 | $217.26 | -31.8% | Jan 12, 2026 |
| Vertical Research | Robert Jamieson | $220 | $218.05 | -45.4% | Jan 9, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $240 | $190.54 | -40.4% | Dec 16, 2025 |
| Goldman Sachs | James Schneider | $230 | $193.4 | -42.9% | Dec 15, 2025 |
| Stifel Nicolaus | Analyst unavailable | $225 | $179.63 | -44.2% | Dec 2, 2025 |
| Robert W. Baird | Richard Eastman | $195 | $184.17 | -51.6% | Oct 31, 2025 |
| UBS | Timothy Arcuri | $200 | $174.76 | -50.4% | Oct 30, 2025 |
| Susquehanna | Brian Chin | $215 | $174.76 | -46.7% | Oct 30, 2025 |
| Goldman Sachs | Analyst unavailable | $148 | $174.61 | -63.3% | Oct 30, 2025 |
| Northland Securities | Gus Richard | $186 | $173.94 | -53.8% | Oct 30, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $180 | $173.25 | -55.3% | Oct 29, 2025 |
| Industrial Alliance Securities | Analyst unavailable | $175 | $146.02 | -56.6% | Oct 28, 2025 |
| UBS | Analyst unavailable | $165 | $138.16 | -59.1% | Oct 20, 2025 |
| Morgan Stanley | Shane Brett | $136 | $139.13 | -66.3% | Oct 14, 2025 |
| Stifel Nicolaus | Analyst unavailable | $119 | $132.08 | -70.5% | Oct 13, 2025 |
| Northland Securities | Gus Richard | $161 | $141.17 | -60.1% | Oct 7, 2025 |
| Susquehanna | Mehdi Hosseini | $200 | $119.85 | -50.4% | Sep 22, 2025 |
| Goldman Sachs | Analyst unavailable | $85 | $107.65 | -78.9% | Jul 30, 2025 |
| Morgan Stanley | Analyst unavailable | $100 | $107.65 | -75.2% | Jul 30, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $105 | $90.39 | -73.9% | Jun 24, 2025 |
| Morgan Stanley | Analyst unavailable | $81 | $86.74 | -79.9% | Mar 14, 2025 |
| UBS | Timothy Arcuri | $130 | $87.16 | -67.7% | Mar 12, 2025 |
| Stifel Nicolaus | Brian Chin | $110 | $87.07 | -72.7% | Mar 12, 2025 |
| Vertical Research | Analyst unavailable | $135 | $108.54 | -66.5% | Mar 7, 2025 |
| Susquehanna | Mehdi Hosseini | $165 | $135.88 | -59.1% | Jan 22, 2025 |
| Robert W. Baird | Richard Eastman | $140 | $127.94 | -65.3% | Jul 29, 2024 |
| Citigroup | Atif Malik | $162 | $125.23 | -59.8% | Jul 26, 2024 |
| Craig-Hallum | Christian Schwab | $124 | $125.69 | -69.2% | Jul 26, 2024 |
| Susquehanna | Mehdi Hosseini | $145 | $124.34 | -64.0% | Jul 26, 2024 |
| Northland Securities | Gus Richard | $126 | $125 | -68.7% | Jul 26, 2024 |
| Stifel Nicolaus | Brian Chin | $140 | $124.34 | -65.3% | Jul 25, 2024 |
| Northland Securities | Gus Richard | $136 | $151.45 | -66.3% | Jul 18, 2024 |
| KeyBanc | Steve Barger | $180 | $154.8 | -55.3% | Jul 12, 2024 |
| UBS | Timothy Arcuri | $170 | $144.74 | -57.8% | Jun 18, 2024 |
| KeyBanc | Steve Barger | $149 | $139.51 | -63.0% | May 21, 2024 |
| Goldman Sachs | Toshiya Hari | $161 | $131.91 | -60.1% | May 20, 2024 |
| Morgan Stanley | Joseph Moore | $116 | $108.33 | -71.2% | Apr 8, 2024 |
| Citigroup | Analyst unavailable | $125 | $107.99 | -69.0% | Feb 6, 2023 |
| Goldman Sachs | Toshiya Hari | $106 | $96.08 | -73.7% | Jul 27, 2022 |
| Goldman Sachs | Toshiya Hari | $149 | $106.88 | -63.0% | Mar 12, 2022 |
| Craig-Hallum | Christian Schwab | $138 | $112.12 | -65.8% | Jan 30, 2022 |
| Robert W. Baird | Robert Mason CFA | $142 | $112.02 | -64.8% | Jan 28, 2022 |
| Rosenblatt Securities | Kevin Garrigan | $165 | $111.14 | -59.1% | Jan 27, 2022 |
| Susquehanna | Mehdi Hosseini | $150 | $111.14 | -62.8% | Jan 27, 2022 |
| Deutsche Bank | Sidney Ho | $120 | $111.14 | -70.2% | Jan 27, 2022 |
| Loop Capital Markets | Scott Graham | $202 | $158.1 | -49.9% | Jan 13, 2022 |
| Bank of America Securities | Vivek Arya | $205 | $156.46 | -49.1% | Jan 10, 2022 |
| Cowen & Co. | Krish Sankar | $150 | $136.79 | -62.8% | Oct 28, 2021 |
| D.A. Davidson | Thomas Diffely | $140 | $111.25 | -65.3% | Oct 7, 2021 |
| Wolfe Research | Blake Gendron | $158 | $131.98 | -60.8% | 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
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| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
Latest beats and misses
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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 · 2026-09-29T23:26:15.217423+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T23:26:15.215008+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 2026-09-29. For educational purposes only; not investment advice.