Teradyne Slides 4.6% Despite Q3 Beat and Above-Consensus Q4 Guide
TER has more than doubled off its 52-week low of $144.11.
Summary
Teradyne beat on both lines and guided Q4 above consensus, yet the stock fell 4.6% Wednesday. Revenue rose 70% year over year to $1.31B and adjusted EPS of $2.29 topped the $2.06 estimate. Semiconductor Test brought in $1.07B, Product Test $138M and Robotics $96M, with Robotics posting its best third quarter ever and returning to profitability. For Q4 the company guided revenue of $1.25B-$1.35B and adjusted EPS of $1.95-$2.25, both midpoints above the roughly $1.27B and $2.03 consensus. The sell-off after a clean beat points to expectations running ahead of results following the record Q2 reported July 31.
At the time of this announcement, TER was trading at $309.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $48.4B. The 52-week trading range was $144.11 to $487.91. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.