Teradyne

Teradyne, Inc. (Teradyne) is based in North Reading, Massachusetts. It designs and makes automated test equipment and robots. It has three segments. Semiconductor Test sells systems and instruments that test chips for compute, memory, storage, mobile and other uses.

Product Test sells systems for circuit boards, optical and high-speed interconnect parts, wireless products, and defense and aerospace systems. Robotics sells collaborative robot arms and autonomous mobile robots. In Q3 2026, revenue was $1,306 million: $1,072 million from Semiconductor Test, $138 million from Product Test and $96 million from Robotics. By country, Korea was 32%, China 21% and Taiwan 14% of Q3 revenue.

A few customers buy a large part of its test equipment. It holds 10% of Technoprobe, a maker of probe cards, as an equity method investment. Greg Smith is Chief Executive Officer. The shares trade on Nasdaq in US dollars.

The price of Teradyne depends on how long its demand from AI chips lasts. Revenue rose 70% to $1,306 million in Q3 2026, and the Semiconductor Test segment rose 77%. Non-GAAP operating profit was 31.6% of revenue, against 20.4% a year earlier. The company says that demand now reaches compute, memory and storage chips, and also high-speed interconnect and robots.

Memory revenue was a record $301 million. Sales of test equipment depend on a few large customers and on how much they spend on new chips. For Q4 2026, the company guides revenue of $1,250 million to $1,350 million, which is level with Q3. For the price to hold or rise, three things must be true.

Orders from AI chip makers must stay near the current level through 2027. Robotics, which reached profit in Q3 2026, must grow without new losses. The $300 million investment in FormFactor, which closed in November 2026, and the MultiLane joint venture must add to test revenue. The next tests are the Q4 2026 report, expected in late January 2027, and its view of 2027.

1. Nov 9, 2026Passed

   FormFactor investment closesThe $300.0 million investment closes in Q4 2026 and the joint solutions start, and this passes; a block by a regulator fails.Outcome: The investment closed on November 9, 2026, and Teradyne now holds 2,234,887 FormFactor shares, about 2.8% of the company.
2. Jan 27, 2027 · est.Pending

   Q4 2026 results and the view of 2027Revenue lands in the $1,250 million to $1,350 million range and management describes 2027 demand at or above 2026, and this passes; a guide below $1,250 million for Q1 2027 fails.
3. Apr 2027 · est.Pending

   Q1 2027 results: memory and RoboticsMemory revenue stays above $200 million and Robotics stays profitable, and this passes; a loss in Robotics fails.

Every passed and failed checkpoint across all picks

• November 9, 2026Teradyne completed its $300.0 million investment in FormFactor. It bought 2,234,887 new FormFactor shares in a private placement, about 2.8% of FormFactor's shares. FormFactor registered the shares for resale, but the purchase agreement limits when and how Teradyne can sell them.
• November 9, 2026Teradyne declared a quarterly cash dividend of $0.13 per share, payable on December 16, 2026, to shareholders of record on November 23, 2026.
• October 27, 2026Teradyne reported Q3 2026 results. Revenue was $1,306 million, up 70%, and above the top of its guidance. GAAP EPS was $2.17 and non-GAAP EPS was $2.29, against $0.85 a year earlier. Semiconductor Test revenue was $1,072 million, and memory revenue was a record $301 million. Robotics reached profit on revenue of $96 million.

Last earnings

October 28, 2026 (8-K on sec.gov)

Next earnings

Expected about January 27, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 27, 2026Filed October 30, 2026 · ter-20260927
• 8-KEarnings releaseFiled October 28, 2026 · Press release and exhibits
• 8-KNew material agreement and New debt or financial obligationFiled August 10, 2026 · ter-20260807
• 10-QQuarterly report for the period ended Jun 28, 2026Filed July 31, 2026 · ter-20260628
• 8-KEarnings releaseFiled July 29, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled May 11, 2026 · ter-20260508
• 10-QQuarterly report for the period ended Mar 29, 2026Filed May 1, 2026 · ter-20260329
• 8-KEarnings releaseFiled April 29, 2026 · Press release and exhibits
• 10-KAnnual report for the period ended Dec 31, 2025Filed February 19, 2026 · ter-20251231
• 8-KEarnings releaseFiled February 3, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 97210)

• Demand follows chip makers' spending on new AI chips, and revenue has changed fast: it was $769 million in Q3 2025 and $1,306 million in Q3 2026. A pause in spending by a few large customers would cut revenue and profit quickly.
• A few customers buy most of its test equipment, and sales are concentrated in a few countries. Korea was 32%, China 21% and Taiwan 14% of Q3 2026 revenue.
• Export rules and tariffs can limit sales. The company says that US export controls on chips and equipment for China, and US and China trade actions, can limit its sales to some customers.
• Teradyne competes for test orders, and it relies on a market where a few customers choose suppliers. Product changes at a large customer can move orders to a competitor.
• Robotics only reached profit in Q3 2026, after losses in earlier years and a restructuring in 2025.
• The $300.0 million FormFactor investment and the MultiLane venture used cash and carry deal risk. The value of the FormFactor shares moves with FormFactor's share price.

At September 27, 2026, Teradyne had cash and cash equivalents of $460.7 million and marketable securities of $164.1 million, of which $158.3 million is long term. It had no borrowings: it repaid the $200.0 million that it owed on its credit facility at December 31, 2025. Read more

Yield at the current rate

0.2% (current annual rate, at today’s price)

Dividend yield

0.2% (last 12 months, at today’s price of $265.78)

Paid per share

$0.51 in the last 12 months (4 payments)

Current annual rate

$0.52 ($0.13 × 4 a year)

Payout ratio

14% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

September 4, 2026, $0.13 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 3.7% a year. From 2015 to 2025, the dividend grew by about 7.2% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.