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    Teradyne Inc (TER)

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    Teradyne, Inc. is a leading global supplier of automated test equipment and robotics solutions, designing, developing, manufacturing, and selling products used across various industries such as consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense . The company offers a range of automated test systems and robotics products, including semiconductor test systems, storage and system level test systems, and collaborative robotic arms . Teradyne's revenue is geographically diverse, with a significant portion coming from the Asia Pacific region .

    1. Semiconductor Test Systems - Provides automated test systems for semiconductor devices, focusing on System-on-a-Chip and Memory tests.
    2. Robotics Products - Offers collaborative robotic arms and autonomous mobile robots, enhancing automation in various industries.
    3. Storage and System Level Test Systems - Develops test systems for storage devices and complete systems, ensuring reliability and performance.
    4. Defense/Aerospace Test Instrumentation and Systems - Supplies test solutions for defense and aerospace applications, supporting mission-critical operations.
    5. Circuit-Board Test and Inspection Systems - Manufactures systems for testing and inspecting circuit boards, ensuring quality and functionality.
    6. Wireless Test Systems - Delivers test solutions for wireless communication devices, supporting the development and deployment of wireless technologies.
    NamePositionExternal RolesShort Bio

    Gregory S. Smith

    Executive

    President and CEO

    None

    Gregory S. Smith has been with Teradyne since 2006, serving in various leadership roles, including President of the Semiconductor Test Division and Industrial Automation Group. He became CEO in February 2023.

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    John F. Wood

    Executive

    President of the Systems Test Group

    None

    John F. Wood has been with Teradyne since at least November 2018, serving as General Manager and Vice President before becoming President of the Systems Test Group in November 2023.

    Richard J. Burns

    Executive

    President of Semiconductor Test

    None

    Richard J. Burns has been with Teradyne since at least 2016, serving as Vice President of Semiconductor Test Engineering before becoming President of Semiconductor Test in October 2020.

    Ryan E. Driscoll

    Executive

    Vice President, General Counsel, and Secretary

    None

    Ryan E. Driscoll joined Teradyne in November 2009 as Deputy General Counsel and was promoted to his current role in February 2024.

    Sanjay Mehta

    Executive

    Vice President, CFO, and Treasurer

    None

    Sanjay Mehta is currently serving as the Vice President, Chief Financial Officer, and Treasurer at Teradyne, confirmed by the most recent 8-K filing dated January 8, 2025.

    Ujjwal Kumar

    Executive

    President of Robotics

    None

    Ujjwal Kumar joined Teradyne as President of Robotics in July 2023. He previously held leadership roles at Honeywell, including President of Honeywell Process Solutions.

    Bridget van Kralingen

    Board

    Director

    Partner at Motive Partners, Director at Royal Bank of Canada, Travelers Insurance, and Discovery Limited

    Bridget van Kralingen has extensive global business experience from her leadership roles at IBM and Deloitte Consulting. She joined Teradyne's Board in January 2024.

    Ernest E. Maddock

    Board

    Director

    Director at Ultra Clean Holdings Inc., Avnet, and Ouster, Inc.

    Ernest E. Maddock has over 35 years of experience in the technology industry, including roles as CFO at Micron Technology and Riverbed Technology. He joined Teradyne's Board in November 2022.

    Marilyn Matz

    Board

    Director

    CEO and Chair of Paradigm4, Inc.

    Marilyn Matz is a co-founder and CEO of Paradigm4, Inc. She has been a director at Teradyne since 2017, bringing over 40 years of experience in automation, machine vision, and software analytics.

    1. Given that your Robotics business has achieved only a 5% CAGR over the past five years, significantly below your forecasted 20–30% growth, what concrete actions are you taking to close this gap, and how confident are you in achieving these ambitious targets amid current market challenges?

    2. With the increased OpEx in your Semi Test business, is this elevated spending a new structural level due to competition and platform development, or is it a cyclical increase aimed at gaining market share, and how will this impact your long-term profitability?

    3. Considering the divergence in growth and strategic focus between your Semiconductor Test and Robotics divisions, have you evaluated the potential benefits of divesting or spinning off the Robotics business to unlock shareholder value and focus on core competencies?

    4. Given your limited exposure to the accelerated AI market and the escalating test times for next-generation AI chips like Blackwell, how do you plan to leverage System Level Test solutions to penetrate this market and enhance your competitive position?

    5. With the mobile SoC test TAM declining from $2 billion to $800 million due to factors like longer smartphone replacement cycles, what is your strategy to mitigate the impact of this contraction on your business, and how do you plan to drive growth in this segment going forward?

    Program DetailsProgram 1
    Approval DateJanuary 2023
    End Date/DurationN/A
    Total additional amount$2.0 billion
    Remaining authorization$1,544,379,000
    DetailsRepurchase outstanding shares to offset dilution from equity compensation and employee share purchase program

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    This competitor is mentioned as a significant player in both the Semiconductor Test and System Test segments, indicating its broad presence in the automated test equipment market.

    This competitor is identified in the Semiconductor Test segment, highlighting its role in providing solutions in this area.

    This competitor is noted in both the System Test and Wireless Test segments, showcasing its diverse offerings in testing technologies.

    Test Research, Inc.

    This competitor is mentioned in the System Test segment, indicating its involvement in circuit-board test and inspection systems.

    SPEA S.p.A.

    This competitor is listed in the System Test segment, suggesting its role in providing test instrumentation and systems.

    This competitor is included in the System Test segment, emphasizing its presence in aerospace and defense test solutions.

    Rohde & Schwarz GmbH & Co. KG

    This competitor is identified in the Wireless Test segment, reflecting its expertise in wireless communication testing.

    Anritsu Company

    This competitor is noted in the Wireless Test segment, highlighting its focus on wireless test solutions.

    National Instruments Corporation

    This competitor is mentioned in the Wireless Test segment, showcasing its role in providing test and measurement solutions.

    Welzek

    This competitor is listed in the Wireless Test segment, indicating its involvement in wireless testing technologies.

    iTest

    This competitor is included in the Wireless Test segment, reflecting its participation in wireless device testing.

    KUKA Robotics Corporation

    This competitor is mentioned in the Robotics segment as a manufacturer of traditional industrial robots.

    This competitor is identified in the Robotics segment as a provider of traditional industrial robots.

    This competitor is noted in the Robotics segment for its traditional industrial robotics offerings.

    Staubli

    This competitor is listed in the Robotics segment as a manufacturer of traditional industrial robots.

    Yaskawa Electric Corporation

    This competitor is included in the Robotics segment, emphasizing its role in traditional industrial robotics.

    Techman

    This competitor is mentioned in the Robotics segment for its emerging collaborative robot offerings.

    Doosan

    This competitor is identified in the Robotics segment as a provider of collaborative robot solutions.

    Jaka

    This competitor is noted in the Robotics segment for its collaborative robotics offerings.

    AUBO Robotics

    This competitor is listed in the Robotics segment, reflecting its focus on collaborative robots.

    Omron

    This competitor is included in the Robotics segment as a manufacturer of autonomous mobile robots in the material handling space.

    This competitor is mentioned in the Robotics segment for its autonomous mobile robot solutions.

    Junion

    This competitor is identified in the Robotics segment as a provider of autonomous mobile robots.

    HikRobot

    This competitor is noted in the Robotics segment for its autonomous mobile robot offerings.

    Agilox

    This competitor is listed in the Robotics segment, emphasizing its role in autonomous mobile robots for material handling.

    KION

    This competitor is included in the Robotics segment as a manufacturer of autonomous mobile robots in the material handling space.

    CustomerRelationshipSegmentDetails

    Samsung

    Key among top five customers

    Semiconductor Test & Wireless Test

    12.5% of consolidated revenue in 2024.

    Texas Instruments

    Key among top five customers

    Semiconductor Test

    10% of consolidated revenue in 2023 ; 18% of accounts receivable as of 2023.

    Qualcomm

    Key among top five customers

    Semiconductor Test, System Test & Wireless Test

    11% of consolidated revenue in 2022.

    TSMC

    Key among top five customers

    Semiconductor Test

    10% of accounts receivable as of 2024.

    SK Hynix

    Key among top five customers

    Semiconductor Test

    10% of accounts receivable as of 2024.

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP1968 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Technoprobe S.p.A.

    2024

    On May 27, 2024, Teradyne acquired a 10% stake in Technoprobe for $524.1 million while also selling its Device Interface Solutions (DIS) business for $85.0 million, establishing a strategic partnership aimed at accelerating semiconductor test innovation. The deal, structured using the equity method (including a board seat and recognition of a $204.7 million basis difference for intangible assets) and supported by currency hedging measures, underscores Teradyne's need to strengthen its market presence and test capabilities.

    Recent press releases and 8-K filings for TER.

    Teradyne Reports Q1 2025 Earnings Results
    TER
    Earnings
    Guidance Update
    Share Buyback
    • Strong Q1 2025 performance: Revenue reached $686M (14% YoY increase) with Non-GAAP EPS of $0.75 and robust Semiconductor Test demand
    • Q2 guidance: Revenue expected between $610M–$680M, with anticipated Non-GAAP EPS of $0.41–$0.64, lower gross margins (56.5%–57.5%), and a modest tariff impact of approximately $0.02 per share
    • Share buyback update: Repurchased 1.5M shares for $159M at an average price of about $107 per share, with the board increasing its buyback target from $400M to up to $1B through 2026
    • Robotics milestone: The Robotics segment recorded its largest-ever order for AMRs and cobot arms, along with a reorganization that reduced operating breakeven from $440M to $365M
    • Earnings differentiation: Reported GAAP net income of $98.9M (EPS $0.61) versus Non-GAAP net income of $121.5M (EPS $0.75)
    1 day ago
    Teradyne Announces Strategic Updates at Analyst Day
    TER
    Guidance Update
    M&A
    New Projects/Investments
    • Analyst Day marks Teradyne's first such event in 20 years, where executives detailed long-term plans focused on sustained earnings growth and diversified revenue paths across Semi Test, Product Test, and Robotics divisions.
    • The company announced plans to acquire Quantifi Photonics and highlighted the creation of a new product test division to drive synergy and bolster its silicon photonics strategy.
    • Executives addressed short-term volatility in the Semi Test business, revising Q2 guidance to reflect a flat to 10% revenue decline, while reaffirming strong midterm growth prospects driven by AI-enhanced robotics and other segments.
    Mar 11, 2025, 5:01 PM
    Teradyne Investor Day 2025 Highlights Long-term Growth and Innovation
    TER
    New Projects/Investments
    Revenue Acceleration/Inflection
    • Teradyne Inc is focused on sustainable, long-term growth by leveraging its leadership in semiconductor test—representing 75% of 2024 sales—while expanding in robotics and product test segments.
    • The company is driving innovation with its advanced ATE solutions and new market trends such as electrification, verticalization, and AI, positioning itself to enhance margins and market share.
    • Strategic initiatives include key investments and acquisitions—such as the Quantifi Photonics acquisition—and disciplined capital allocation, supporting strong free cash flow and operating margin growth towards the 2028 earnings model.
    Mar 11, 2025, 5:00 PM