On CNBC's “Halftime Report Final Trades,” Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, named Netflix Inc (NASDAQ:NFLX) as his final trade.Los Gatos, California-based Netflix, on Oct. 30, announced a 10-for-1 forward stock split.Jim Lebenthal, partner at Cerity Partners, said he expects Oracle Corp (NYSE:ORCL) to rally into earnings next week.Oracle said it will release second quarter fiscal year 2026 results on Wednesday, Dec. 10, after the closing bell. Analysts expect the company to rep ...

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Teradyne Conference Call Summary Company Overview - **Company**: Teradyne (NasdaqGS:TER) - **Industry**: Semiconductor Testing Equipment Key Points Macro Perspective on Semiconductor Testing - The semiconductor test market is projected to be $6-$6.5 billion for the year, which is considered low compared to the growth in semiconductor revenues [3][5] - Committed data center capacity is expected to drive significant silicon growth in the coming years, particularly in 2027 and 2028 [4][5] - The complexity of silicon is increasing rapidly in data centers, leading to higher spending on testing due to immature processes [6] Competitive Landscape - Teradyne operates in a duopoly with Advantest, with historical advantages favoring competitors due to their exposure to memory and compute markets [7][9] - Supply chain resilience is becoming increasingly important for data center customers, which may benefit Teradyne as customers seek alternatives [9][10] Custom ASIC Procurement Changes - The decision-making power in custom ASIC procurement is shifting towards hyperscalers, who are making significant investments in data centers [12][13] - Hyperscalers are diversifying their supplier base to ensure capacity and reliability [14][15] GPU Opportunity - Teradyne is in the qualification phase for a major GPU customer, with expectations of incremental capacity gains once qualified [19][21] - The company anticipates that qualification will lead to more projects and increased volume in the future [21] Mobile Market Outlook - The mobile ecosystem is expected to see increased complexity due to advancements in process technology and memory packaging [25][26] - The impact of new technologies on unit volume remains uncertain, particularly regarding market share in China [28] Robotics and Cobots - Teradyne is building a manufacturing facility in the U.S. to support a major customer in the e-commerce space, reflecting a trend towards reshoring [30][31] - The automation of existing processes in distribution centers is expected to grow incrementally from 2026 onwards [32] Memory Market Dynamics - Teradyne has gained significant share in HBM performance testing at the wafer level, moving from 0% to approximately 50% share [44] - The memory market is expected to grow, particularly in HBM and DRAM, with potential upside in flash memory depending on market demand [46] Financial Model and Market Uncertainty - Teradyne is facing challenges in predicting revenue due to lumpiness in demand and reliance on a few key customers [48][49] - The company plans to provide a refined financial model in January, focusing on aggregate growth rates and inherent market uncertainties [47] Technoprobe Partnership - The partnership with Technoprobe is expected to enhance Teradyne's capabilities in HBM performance testing and hybrid bonding [50][51] - Benefits from this partnership are anticipated to materialize in 2026 [51] Q4 and Future Outlook - Confidence in a strong Q4 performance is noted, with expectations that this strength will carry into Q1 of the following year [52][53] - The demand landscape is expected to be different from historical patterns, with significant variability anticipated [53] Conclusion Teradyne is positioned to capitalize on growth opportunities in the semiconductor testing market, particularly in data centers, mobile technology, and robotics. The company is navigating a competitive landscape while adapting to changes in customer procurement strategies and market dynamics. The outlook for 2026 appears positive, although uncertainties remain regarding demand fluctuations and market conditions.

Core Viewpoint - Stifel upgraded Teradyne from Hold to Buy and raised its price target to $225 from $162, resulting in a more than 5% increase in shares on Tuesday [1] Group 1: Market Positioning - Teradyne's positioning in AI networking, AI training/inference, and memory markets is considered underappreciated, with potential upside from core consumer and smartphone end-markets [2] - The firm anticipates that rising unit growth and increasing chip-test complexity across AI accelerators, networking silicon, and memory suppliers could enable Teradyne to reach the lower end of its long-term financial model as early as 2027 [2] Group 2: Growth Potential - A potential GPU test win at Nvidia is progressing, which would further support the positive outlook for Teradyne [3] - The new price target of $225 is based on 32× CY27 EPS and includes a modest premium for the possibility of securing an additional major GPU customer [3]

Upgrades - Baird upgraded Albemarle (ALB) to Neutral from Underperform with a price target of $113, up from $81, due to optimism regarding lithium end-market demand tied to energy storage [2] - Morgan Stanley upgraded DexCom (DXCM) to Overweight from Equal Weight with a price target of $75, up from $63, citing signs of recovery from operational challenges while valuation remains at trough levels [2] - Argus upgraded Restaurant Brands (QSR) to Buy from Hold with an $85 price target, expecting strong brands to lead to higher domestic comparable sales and international unit expansion [3] - Truist upgraded Six Flags (FUN) to Buy from Hold with a price target of $23, down from $27, noting the new CEO's promising approach to improve underperforming parks [3] - Stifel upgraded Teradyne (TER) to Buy from Hold with a price target of $225, up from $162, anticipating accelerated growth due to a favorable shift in test revenue composition [4] Downgrades - Morgan Stanley downgraded Inspire Medical (INSP) to Equal Weight from Overweight with a price target of $130, up from $105, citing lack of visibility into the core business and long-term market potential [5] - Goldman Sachs downgraded Symbotic (SYM) to Sell from Neutral with an unchanged $47 price target, believing the valuation is stretched with a 185-times enterprise value to expected forward adjusted EBITDA multiple [5] - Oppenheimer downgraded Sound Point Meridian Capital (SPMC) to Perform from Outperform, removing the price target of $20, due to higher than expected negative impact on earnings from borrower call options [5] - Morgan Stanley downgraded 10x Genomics (TXG) to Equal Weight from Overweight with a price target of $20, up from $17, following a stock rally that placed the multiple in a reasonable spot relative to growth [5] - BofA downgraded PagerDuty (PD) to Underperform from No Rating with a $12 price target, citing demand headwinds and a pricing model change that may delay growth stabilization [5]

We Are/DigitalVision via Getty Images The following segment was excerpted from the American Century Value Fund Q3 2025 Commentary. Key Contributors Teradyne (TER). Shares of Teradyne advanced sharply as investors cheered the company’s robust earnings and outlook for Teradyne’s ...

Core Insights - The article compares two companies in the robotics and AI sector: Serve Robotics Inc. (SERV) and Teradyne, Inc. (TER), highlighting their differing stages of maturity and financial trajectories [1][2]. Serve Robotics Overview - Serve Robotics is a rapidly growing developer of Level-4 autonomous sidewalk delivery robots, having deployed over 1,000 robots and expanded its operations to Chicago [4]. - The company reported a significant revenue increase of 209% year-over-year, reaching $687,000, with delivery volume rising 66% sequentially and 300% from the previous year [4][8]. - Despite operational growth, Serve Robotics reported a gross loss of $4.4 million and an operating loss of $34.8 million, indicating challenges in achieving financial viability [6]. - The company aims for a tenfold revenue increase in 2026, supported by partnerships with Uber Eats and DoorDash [4][5]. Teradyne Overview - Teradyne is a leader in semiconductor testing and industrial automation, benefiting from a surge in AI semiconductor demand, with Q3 2025 revenues of $769 million, up 4% year-over-year [7][8]. - The semiconductor test segment contributed $606 million to Teradyne's revenue, driven by high demand for AI-related chips [7][9]. - Teradyne's earnings expectations have improved, with analysts raising the 2025 EPS estimate from $3.14 to $3.51, reflecting strong demand across its product lines [18][21]. Financial Performance Comparison - Serve Robotics trades at a high forward price-to-sales ratio of 36.77X, while Teradyne trades at a more grounded 7.66X, indicating differing market valuations based on profitability and growth potential [14]. - Serve Robotics is projected to incur losses of $1.72 per share in 2026, while Teradyne is expected to grow earnings by 45.1% in the same year [16][18]. Investment Outlook - Serve Robotics presents a high-risk, high-reward investment opportunity with ambitious growth plans but significant financial losses and high valuation [20]. - Teradyne offers a more favorable risk-reward profile, with improving earnings power and a strong market position in the AI semiconductor space, reflected in its Zacks Rank 2 (Buy) [21].

Core Viewpoint - Teradyne's recent earnings report shows a mixed performance with revenues increasing year-over-year, but earnings per share declining, leading to questions about the sustainability of its positive stock trend [2][5]. Financial Performance - Teradyne reported Q3 2025 non-GAAP earnings of 85 cents per share, exceeding estimates by 8.97%, but down 5.6% year-over-year [2]. - Revenues reached $769 million, surpassing estimates by 3.32% and reflecting a 4.3% increase year-over-year [2]. - Revenue breakdown: Semiconductor Test platforms contributed $606 million (78.8%), Robotics $75 million (9.8%), and Product Test $88 million (11.4%) [3]. Cost and Margin Analysis - Non-GAAP gross margin was 58.5%, a decrease of 120 basis points year-over-year [3]. - Selling and administrative expenses rose 7.3% year-over-year to $169.1 million, accounting for 22% of revenues, an increase of 60 basis points [4]. - Engineering and development expenses increased 6.2% year-over-year to $124.8 million, representing 16.2% of revenues, up 30 basis points [4]. - Non-GAAP operating income fell 4.9% year-over-year to $156.9 million, with an operating margin contraction of 200 basis points to 20.4% [5]. Balance Sheet and Cash Flow - As of September 28, 2025, cash and cash equivalents were $297.7 million, down from $367.9 million as of June 29, 2025 [6]. - Net cash provided by operating activities for the quarter was $49 million [6]. Future Guidance - For Q4 2025, Teradyne anticipates revenues between $920 million and $1 billion, with non-GAAP earnings projected between $1.20 and $1.46 per share [6]. Market Sentiment and Estimates - Following the earnings release, there has been a 33.35% upward revision in consensus estimates, indicating positive market sentiment [7]. - Teradyne currently holds a Zacks Rank 2 (Buy), suggesting expectations for above-average returns in the coming months [10]. VGM Scores - Teradyne has a poor Growth Score of F and a similar score for momentum, with a D grade for value, placing it in the bottom 40% for value investors [8][9].

Market Performance - US stock market opened high and closed higher, with all three major indices rising for four consecutive days [1] - Dow Jones increased by 0.67% to 47,427.12 points, S&P 500 rose by 0.69% to 6,812.61 points, and Nasdaq Composite climbed by 0.82% to 23,214.69 points [1] - Market volatility eased, with the S&P 500 volatility index (VIX) dropping approximately 35% over four days, marking the largest decline since mid-April [1] Technology Sector - Mixed performance among large tech stocks: Nvidia up 1.37%, Apple up 0.21%, Google C down 1.04%, Microsoft up 1.78%, Amazon down 0.22%, Broadcom up 3.26%, Meta down 0.41%, and Tesla up 1.71% [1] - Philadelphia Semiconductor Index rose by 2.76%, with all 30 component stocks closing higher [1] - Notable gains in semiconductor stocks: Teradyne up 6.98%, Marvell Technology up 5.14%, AMD up 3.93%, ASML up 3.76%, and Micron Technology up 2.55% [1] Chinese Stocks - Nasdaq Golden Dragon China Index slightly declined by 0.03% [2] - Most popular Chinese stocks saw gains: Vipshop up 2.54%, Pinduoduo up 1.58%, JD.com up 0.96%, Li Auto up 0.6%, New Oriental up 0.39%, and Alibaba up 0.38% [2] - Declines were noted in some Chinese stocks: Hesai down 7.37%, Tencent Music down 2.33%, Xpeng down 2.22%, Baidu down 1.31%, and NIO down 0.73% [3]

Core Insights - Mistras (MG) and Teradyne (TER) are both stocks in the Electronics - Miscellaneous Products sector, with a focus on identifying which offers better value for investors [1] Valuation Metrics - Both MG and TER currently hold a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3] - MG has a forward P/E ratio of 14.29, significantly lower than TER's forward P/E of 47.78, suggesting MG may be undervalued [5] - MG's PEG ratio is 0.89, while TER's PEG ratio is 1.75, indicating MG's expected earnings growth is more favorable relative to its price [5] - MG's P/B ratio stands at 1.64, compared to TER's P/B of 9.66, further supporting MG's valuation advantage [6] - Based on these metrics, MG has earned a Value grade of A, while TER has a Value grade of D, highlighting MG as the superior value option [6]