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These Analysts Revise Their Forecasts On Teradyne Following Q2 Results
TERTeradyne(TER) Benzinga·2024-07-26 17:27

Core Viewpoint - Teradyne, Inc. reported better-than-expected second-quarter results but provided soft guidance for the third quarter [1]. Financial Performance - Teradyne's second-quarter earnings were 86 cents per share, exceeding the analyst consensus estimate of 77 cents per share [4]. - The company reported quarterly sales of 729.879million,surpassingtheanalystconsensusestimateof729.879 million, surpassing the analyst consensus estimate of 701.204 million [4]. Third-Quarter Guidance - For the third quarter, Teradyne expects revenue between 680millionand680 million and 740 million, compared to estimates of 717.66million[2].−Theprojectedadjustedearningsforthethirdquarterarebetween66centsand86centspershare,againstestimatesof86centspershare[2].AnalystRatingsandPriceTargets−SusquehannaanalystMehdiHosseinimaintainedaPositiveratingonTeradyneandraisedthepricetargetfrom717.66 million [2]. - The projected adjusted earnings for the third quarter are between 66 cents and 86 cents per share, against estimates of 86 cents per share [2]. Analyst Ratings and Price Targets - Susquehanna analyst Mehdi Hosseini maintained a Positive rating on Teradyne and raised the price target from 130 to 145[3].−CantorFitzgeraldanalystCJMusekeptaNeutralratingwhileloweringthepricetargetfrom145 [3]. - Cantor Fitzgerald analyst C J Muse kept a Neutral rating while lowering the price target from 180 to 160[3].−Craig−HallumanalystChristianSchwabdowngradedtheratingfromBuytoHold,maintainingapricetargetof160 [3]. - Craig-Hallum analyst Christian Schwab downgraded the rating from Buy to Hold, maintaining a price target of 124 [3]. Market Reaction - Following the earnings report, Teradyne shares increased by 1.4%, trading at $126.11 [3]. Business Insights - CEO Greg Smith noted that AI applications have driven increased demand from compute and memory customers, and the robotics business has shown growth both sequentially and year-over-year [5]. - The company anticipates that the deployment of edge AI will bolster demand in its test and robotics sectors in the mid-term [5].