Market cap
$63.0B
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 doubled revenue to a record $1.33B last quarter: compute test grew nearly sixfold and memory test hit a record on HBM and DRAM. The catch is lumpiness and price: Q3 guidance of $1.20–1.30B is a step down, and the stock trades at about 55 times trailing earnings.
Last close · Oct 9, 2026
$402.68
52-week range
$132–484
closing low / high
P/E (trailing)
~55×
GAAP EPS $7.29 · ~44× 2026 consensus adj. EPS $9.11
Revenue TTM
Q3 2026 guide
$1.20–1.30B
adj. EPS $1.85–2.15 · gross margin 58–59%
Next earnings
Late Oct
Q3 2026 and Q4 guide · date not yet announced
Price, last 12 months
Daily closes with the 50-day average. Teradyne has roughly doubled this year, but has swung between about $320 and $484 since June.
1Y closing high
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1Y closing low
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SMA 50
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SMA 200
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RSI 14
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Avg daily move
—
last 20 sessions
Beta
1.75
vs. S&P 500
From peak
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Revenue and margins, by quarter
Revenue in US$ 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 $1.25B midpoint of Q3 2026 guidance.
RevenueGross margin (right axis)Guidance
Q2 2026
$1.33B
+104% YoY · +4% QoQ · record
Semiconductor Test
$1.12B
+128% YoY · SoC $843M, compute ~70% of it
Memory test
$212M
record · HBM, DRAM, NAND · book-to-bill >2
Product Test
$107M
+26% YoY · board and optical test
Robotics
$100M
+33% YoY · +9% QoQ
EPS
$2.38
GAAP · adj. $2.47 (+333% YoY) · GM 59.8%
| Quarter | Ended | Revenue, US$M | YoY | Gross margin | Op. margin | EPS (GAAP) |
|---|
Watch list
What moves the thesis, sorted by direction.
Tailwind
AI compute test
Compute revenue grew nearly 600% from a year ago and AI drove over 60% of sales. Teradyne qualified a second AI hyperscaler and shipped a merchant GPU order.
Tailwind
Memory and HBM
Memory test hit a record $212M, its third quarter above $200M, with orders over twice shipments. Management sees the 2026 memory test market more than 40% larger than 2025.
Watch
Q3 report and Q4 guide
The Q3 guide of $1.20–1.30B is below Q2's $1.33B on compute order timing and soft mobile. The market will look for Q4 guidance to show growth resuming.
Watch
Robotics turnaround
After a 2025 restructuring that cut about 150 jobs, Robotics grew 33% to $100M. A U.S. factory is due to open later this year, and a cobot dispute with Elite Robots was settled in October.
Risk
Lumpy orders
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 in the last downturn.
Risk
Valuation and swings
At about 55 times trailing GAAP earnings, the stock prices in more growth. It fell 34% from its Jun 30 record close to Jul 29 before rebounding.
Calendar
Late Oct 2026
Q3 2026 earnings
Guidance is $1.20–1.30B of revenue and $1.85–2.15 adjusted EPS. Date not yet announced.
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
Full-year 2026 results and the first read on 2027, which management expects to be another growth year.