- Roku Inc Faces Significant Reduction in Catherine Wood's Portfolio
May 12, 2026
This article first appeared on GuruFocus.
Exploring the Strategic Moves of ARK's Founder in Q1 2026
Catherine Wood (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2026, providing insights into her investment moves during this period. With over 40 years of experience, Cathie Wood founded ARK in 2014 to focus solely on disruptive innovation while adding new dimensions to research. Through an open approach that spans across sectors, market capitalizations, and geographies, she believes ARK can identify large-scale investment opportunities in the public markets resulting from technological innovations centered around DNA sequencing, robotics, artificial intelligence, energy storage, and blockchain technology. As chief investment officer and portfolio manager, Wood spearheaded the development of ARKs philosophy and investment approach and is ultimately responsible for investment decisions. Recognizing that disruptive innovation causes rapid cost declines, cuts across sectors, and spawns further innovation, ARK uses an iterative investment process that combines top-down and bottom-up research. The firm strives to identify innovation early in order to capitalize on the opportunity, providing long-term value to investors.
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Summary of New Buy
Catherine Wood (Trades, Portfolio) added a total of 13 stocks, among them:
The most significant addition was Broadcom Inc (NASDAQ:AVGO), with 407,803 shares, accounting for 0.98% of the portfolio and a total value of $126.22 million. The second largest addition to the portfolio was BioNTech SE (NASDAQ:BNTX), consisting of 127,878 shares, representing approximately 0.09% of the portfolio, with a total value of $11.37 million. The third largest addition was Eli Lilly and Co (NYSE:LLY), with 12,676 shares, accounting for 0.09% of the portfolio and a total value of $11.66 million.
Key Position Increases
Catherine Wood (Trades, Portfolio) also increased stakes in a total of 85 stocks, among them:
The most notable increase was Tempus AI Inc (NASDAQ:TEM), with an additional 2,050,162 shares, bringing the total to 9,607,745 shares. This adjustment represents a significant 27.13% increase in share count, a 0.72% impact on the current portfolio, with a total value of $434.46 million. The second largest increase was Robinhood Markets Inc (NASDAQ:HOOD), with an additional 1,196,850 shares, bringing the total to 6,003,061. This adjustment represents a significant 24.9% increase in share count, with a total value of $416.01 million.
Story Continues
Summary of Sold Out
Catherine Wood (Trades, Portfolio) completely exited 29 of the holdings in the first quarter of 2026, as detailed below:
The Trade Desk Inc (NASDAQ:TTD): Catherine Wood (Trades, Portfolio) sold all 2,927,539 shares, resulting in a -0.74% impact on the portfolio. PagerDuty Inc (NYSE:PD): Catherine Wood (Trades, Portfolio) liquidated all 8,323,386 shares, causing a -0.72% impact on the portfolio.
Key Position Reduces
Catherine Wood (Trades, Portfolio) also reduced positions in 82 stocks. The most significant changes include:
Reduced Roku Inc (NASDAQ:ROKU) by 2,061,333 shares, resulting in a -35.05% decrease in shares and a -1.49% impact on the portfolio. The stock traded at an average price of $97.4 during the quarter and has returned 53.27% over the past 3 months and 17.16% year-to-date. Reduced Teradyne Inc (NASDAQ:TER) by 1,111,134 shares, resulting in a -47.16% reduction in shares and a -1.43% impact on the portfolio. The stock traded at an average price of $278.84 during the quarter and has returned 13.93% over the past 3 months and 83.08% year-to-date.
Portfolio Overview
At the first quarter of 2026, Catherine Wood (Trades, Portfolio)'s portfolio included 181 stocks, with top holdings including 8.18% in Tesla Inc (NASDAQ:TSLA), 4.29% in Advanced Micro Devices Inc (NASDAQ:AMD), 4.19% in CRISPR Therapeutics AG (NASDAQ:CRSP), 3.85% in Shopify Inc (NASDAQ:SHOP), and 3.54% in Palantir Technologies Inc (NASDAQ:PLTR).
The holdings are mainly concentrated in 10 of all the 11 industries: Technology, Healthcare, Consumer Cyclical, Financial Services, Industrials, Communication Services, Energy, Utilities, Consumer Defensive, Basic Materials.
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- TER Rides on Strong Semiconductor Test Segment: More Upside Ahead?
May 11, 2026
Teradyne TER is benefiting from growing demand for AI infrastructure, driving robust growth across its semiconductor test and robotics divisions. In the first quarter of 2026, the Semiconductor Test (SemiTest) segment alone generated $1.1 billion, breaking the $1 billion threshold for the first time and more than doubling year over year. This segment saw a 26% sequential increase and more than a 100% year-over-year increase.
Growth is largely driven by accelerating demand for AI and data center technologies, with AI-related demand accounting for nearly 70% of Teradyne’s revenue in the first quarter of 2026, up from about 60% in the previous quarter.
Within the SemiTest, the SoC (System on Chip) product line contributed $882 million, memory test solutions added $203 million and the IST group delivered $27 million. Compute, driven by AI, now represents roughly 75% of SoC product revenue, highlighting a strategic shift from mobile-centric to AI-dominant testing.
Teradyne’s investments in new products, such as the Photon 100 for silicon photonics and the Omnyx platform for server board testing, position it to capture emerging opportunities in high-speed networking and data center infrastructure. The company has also secured its first multisystem production test orders for merchant GPUs, signaling further penetration into the AI compute market. Strong demand for high-bandwidth memory and DRAM test solutions, as well as increasing flash test demand, are contributing to the positive outlook.
Teradyne’s expanding portfolio and strong demand for AI-related applications are expected to drive the company’s top-line growth. For the second quarter of 2026, Teradyne expects revenues in the range of $1.15-$1.25 billion.
Teradyne Suffers From Stiff Competition
Teradyne is facing stiff competition from companies such as Advantest Corporation ATEYY and Cohu COHU. Both Advantest and Cohu are expanding their footprint in the semiconductor test market.
In April 2026, Advantest launched Pin Scale 5000B for its V93000 EXA Scale Platform, boosting vector memory and high-bandwidth testing up to 5 Gbps for advanced AI and HPC chips. The solution improves chiplet testing, structural coverage, core-level visibility, and test efficiency while remaining compatible with Pin Scale 5000.
In April 2026, Cohu secured $30 million in follow-on orders for its Eclipse platform with advanced thermal control, strengthening its position in the high-performance computing semiconductor testing market. One customer adopted Cohu’s PAICe Prescriptive analytics software to enhance production efficiency, signaling growing demand for intelligent, scalable test solutions.
Story Continues
TER’s Share Price Performance, Valuation, and Estimates
Teradyne shares have surged 85.9% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 16.8% and the Zacks Electronics - Miscellaneous Products increase of 44.5%.
TER Stock's PerformanceZacks Investment Research
Image Source: Zacks Investment Research
TER stock is trading at a premium with a forward 12-month Price/Sales of 11.6X compared with the Electronics - Miscellaneous Products industry’s 9.69X. TER has a Value Score of F.
TER's ValuationZacks Investment Research
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $7.09 per share, which has increased 16.8% over the past 30 days. This suggests 79.04% year-over-year growth.
Teradyne, Inc. Price and ConsensusTeradyne, Inc. Price and Consensus
Teradyne, Inc. price-consensus-chart | Teradyne, Inc. Quote
Teradyne currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Cohu, Inc. (COHU) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
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- Teradyne (TER) Could Be In The Next Phase Of AI Investing
May 11, 2026
Teradyne, Inc. (NASDAQ:TER) is one of the
14 Stocks That Will Skyrocket.
Green starts strong with this particular stock. He tells anyone who’s interested that fret not, if you’ve missed investing in AI GPU giant NVIDIA, and says “this is your chance to get in on the next phase.” Another stock that’s pitched to benefit from the Trump administration’s efforts to boost American manufacturing, he believes he’s “found a company that’s solving” the problem of robotics in industrial operations. These robots “work alongside humans,” he says, and to make things even sweeter, the firm “partnered with Nvidia to bring AI chips to their cobots.”Teradyne (TER) Could Be In The Next Phase Of AI Investing
The firm, according to Stock Gumshoe, is Teradyne, Inc. (NASDAQ:TER). It provides testing robots for chip manufacturers and mobile robots and other items for other industries. The shares are up by 364% over the past year and by 73% year-to-date. Goldman Sachs discussed Teradyne, Inc. (NASDAQ:TER)’s shares on April 30th, as it raised the share price target to $350 from $300 and kept a Buy rating on the stock. The bank discussed strong trends in the semiconductor industry as part of its coverage.
While we acknowledge the potential of TER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
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- Is Wall Street Underestimating This Under-The-Radar AI Stock Pick in Cathie Wood’s Portfolio?
May 11, 2026
We just covered
Cathie Wood’s 11 Biggest AI and Data Center Stock Picks. Teradyne, Inc. (NASDAQ:TER) ranks #4 (see Cathie Wood’s 5 Biggest AI and Data Center Stock Picks).
Cathie Wood’s Stake: $456,077,004
Teradyne Inc (NASDAQ:TER) is perhaps the most notable AI pick in Cathie Wood’s portfolio. Its bull case is simple: with everyone going hungry for AI chips, there is huge demand for testing these chips before deploying them into critical AI infrastructure like data centers, GPUs, and high-performance computing systems. As AI chips become more complex, testing becomes more important and more valuable per chip. Teradyne Inc (NASDAQ:TER) does not have strong competition. The semiconductor automated test equipment market is dominated by two players: Teradyne and Advantest.
As companies deploy AI chips in critical applications, this hardware would require significantly more testing than traditional chips. For example, high-bandwidth memory (HBM), which is used in nearly every AI accelerator, can require up to 10x more test intensity compared to standard DRAM, effectively expanding Teradyne Inc’s (NASDAQ:TER) revenue opportunity per unit.
For the company, AI demand represents over 60% of revenue and is expected to reach around 70% in the upcoming quarters.
JP Morgan recently upgraded Teradyne Inc (NASDAQ:TER) to Overweight following the stock’s post-earnings decline. The firm said nothing structurally changed in the long-term story.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Teradyne, Inc. (NASDAQ:TER) in its Q1 2026 investor letter:
“Teradyne, Inc. (NASDAQ:TER) designs and manufactures testing equipment for semiconductors. Investors have appreciated its strong position in testing for next-generation memory and application specific integrated circuit (ASIC) testing for AI workloads. Additionally, there is potential for” (Click Here to Read the Letter in Detail)
While we acknowledge the potential of TER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
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- TER Rides on Strong Semiconductor Test Segment: More Upside Ahead?
May 11, 2026 · zacks.com
Teradyne's SemiTest segment tops $1.1B in Q1 2026 as AI demand neared 70% of revenue, backed by new test platforms and upbeat Q2 sales guidance.
- Cathie Wood buys $12.9 million of tumbling tech stock
May 10, 2026
Cathie Wood, chief of Ark Investment Management, is known for making bold bets on fast-moving tech stocks. Sometimes her trades move just as quickly as the stocks themselves.
In the week that began on May 3, Wood sold millions of dollars worth of shares in one high-flying AI company near recent highs, only to turn around days later and buy back the stock after a sharp 11% drop.
In 2025, Wood’s flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500’s return of 17.88% in the same period. So far this year, Wood’s flagship Ark Innovation ETF (ARKK) was up roughly 1.61%, trailing the S&P 500’s gain of more than 8%.
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.
Those swings have weighed on Wood’s long-term gains. As of May 7, the Ark Innovation ETF has delivered a five-year annualized return of -6.17%, while the S&P 500 has an annualized return of 13.45% over the same period, according to data from Morningstar.
Cathie Wood expects a “great acceleration” brought by tech developments
Wood focuses on high-tech companies across artificial intelligence, blockchain, biomedical technology, and robotics. She thinks these businesses have strong growth potential, though their volatility often causes fluctuations in the Ark’s funds.
According to Morningstar analyst Bella Albrecht, two of Wood’s Ark funds were among the worst-performing ETFs in the first quarter of 2026. The Ark Next Generation Internet ETF (ARKW) ranked second on the list, while the ARK Innovation ETF placed fifth.In the 12 months through May 7, Wood's Ark Innovation ETF saw roughly $1.32 billion in net outflows.Getty Images
From 2014 to 2024, the Ark Innovation ETF wiped out $7 billion in investor wealth, according to an analysis by Morningstar’s analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott’s ranking. The analyst hasn’t updated the 2025 ranking.
In a March 23 Bloomberg podcast, Wood says the global economy is not heading into a downturn, but into what she calls a “great acceleration” driven by AI and other breakthrough technologies.
“We’re not going into the Great Depression, we’re going into the great acceleration,” Wood said, pointing to how past technological revolutions reshaped economic growth.
Related: Cathie Wood buys $14.9 million of tumbling AI stock
She noted that global real GDP growth averaged just 0.6% between 1500 and 1900, before the Industrial Revolution lifted it to around 3% for more than a century. Now, she argues, a new wave of innovation could push growth much higher.
Story Continues
“We think [technologies] are going to take growth into the 7 to 8% range,” Wood said, adding that the number may actually be conservative.
Wood also emphasized that AI is rapidly driving down costs across industries.
“These technologies are deflationary,” she said. “AI training costs are dropping 75% per year, and inference costs are falling as much as 85% to even 98% annually.”
In an earlier letter published in January, Wood rejects the “AI bubble” talk, saying it "is years away" and "the most powerful capital spending cycle in history" is coming.
"What once was the cap in spending seems to have become a floor now that the AI, robotics, energy storage, blockchain technology, and multiomics sequencing platforms are ready for prime time," she said.
But not all investors agree with Wood’s optimism. In the 12 months through May 7, the Ark Innovation ETF saw roughly $1.32 billion in net outflows, with $252 million exiting the fund over the past month, according to data from ETF research firm VettaFi.
Cathie Wood buys $12.9 million of CoreWeave stock
On May 8, Wood’s Ark funds bought 113,076 shares of CoreWeave (CRWV), according to Ark’s daily trade information. These shares are valued at about $12.9 million after the stock tumbled 11% to close at $114.15 that day.
Just days earlier, on May 4 and May 5, Wood had sold a total of 198,572 CoreWeave shares worth roughly $25 million at prices around $127 and $125 per share.
Related: Analysts turn heads with AMD stock forecast after massive rally
Shares of CoreWeave, the Nvidia-backed cloud infrastructure company, are up roughly 60% year-to-date, despite the recent price decline after earnings.
CoreWeave focuses on GPU-powered computing for AI and machine learning workloads. Its data centers run on Nvidia chips, and major customers include Google (GOOGL) and Microsoft (MSFT).
On May 7, CoreWeave issued weaker-than-expected second-quarter revenue guidance, which caused a decline in the stock price the next day.
The company reported an adjusted loss of $1.12 per share, wider than analysts’ expectations for a 90-cent loss. Revenue came in at $2.08 billion, topping estimates of $1.97 billion and more than doubling from $981.8 million a year earlier.
For the second quarter, CoreWeave projected revenue of $2.45 billion to $2.6 billion. The midpoint of that range fell below Wall Street estimates of $2.69 billion, according to CNBC. The company maintained its full-year 2026 revenue outlook of $12 billion to $13 billion.
CoreWeave's CEO, Mike Intrator, said on the earnings call that the company has now reached “hyperscale.”
"We have reached hyperscale with more than 3.5 gigawatts of contracted power, up more than 400 megawatts this quarter alone, with the substantial majority expected to be online by the end of 2027," he said.
"Our core customers, historically hyperscalers and foundation labs are deepening their commitment to us while an entirely new wave of enterprises are arriving and demanding access to CoreWeave's platform at scale."
After the earnings report, Bank of America reiterated a buy rating and $140 price target on CoreWeave stock. Analysts said the weaker near-term guidance was mainly tied to the timing of new data center capacity coming online, while revenue growth is still expected to accelerate sharply in the second half of 2026.
"We expect operating margin to improve sequentially throughout 2026, reaching 8% for FY26, driven by the progress in capacity coming online," the analysts wrote in a research note sent to TheStreet.
The analysts said CoreWeave continues to add active power capacity and is growing its backlog by roughly $30 billion from the prior quarter, with inferencing accounting for more than half of CoreWeave's compute usage, "which speaks to the visibility and longevity of its revenues," the analysts said.
Fund manager buys and sells
Cathie Wood buys $2.5 million of tumbling megacap stock Warren Buffett dumped 77% of Amazon to buy surging media stock Cathie Wood buys $11 million of tumbling megacap tech stock
"We expect inferencing to continue to be the primary source of evolving demand, as evidenced by Anthropic's impressive ARR growth," Bank of America added.
CoreWeave is not in the top 10 holdings of Wood’s Ark Innovation ETF.
Top 10 holdings of the Ark Innovation ETF as of May 8, 2026:
Tesla Inc. (TSLA) 10.18% Advanced Micro Devices Inc. (AMD) 5.28% CRISPR Therapeutics AG (CRSP) 4.83% Tempus AI Inc. (TEM) 4.82% Circle Internet Group Inc. (CRCL) 4.64% Roku Inc. (ROKU) 4.56% Robinhood Markets Inc. (HOOD) 4.36% Shopify Inc. (SHOP) 4.31% Coinbase Global Inc. (COIN) 4.21% Beam Therapeutics Inc. (BEAM) 3.08%
Other than buying shares of CoreWeave (CRWV), Cathie Wood’s recent trading activity included purchases of Intellia Therapeutics (NTLA), Kratos Defense & Security Solutions (KTOS), Kodiak AI (KDK), Toast (TOST), Cloudflare (NET), Absci (ABSI), and X-Energy (XE), while selling Advanced Micro Devices (AMD), Twist Bioscience (TWST), Aurora Innovation (AUR), Teradyne (TER), and Rocket Lab (RKLB).
Related: Dave Ramsey, AARP warn Americans on IRAs, Roth IRAs
This story was originally published by TheStreet on May 10, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
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- Cathie Wood Dumps Another $3 Million In AMD Stock As Ark Invest Trims For Third Day Running, This Is the AI Stock She Is Buying Instead
May 10, 2026
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
On Thursday, Cathie Wood-led Ark Invest made notable trades involving Advanced Micro Devices Inc. and Tempus AI Inc.. These trades reflect Ark’s strategic repositioning amid evolving market dynamics.
The AMD Trade
ARK Innovation ETF fund reduced its stake in Advanced Micro Devices Inc. by selling 8,045 shares. The transaction, valued at approximately $3.3 million, was executed at AMD’s closing price of $408.46 on Thursday.
This move aligns with Ark’s recent trend of trimming its AMD holdings. Recently, AMD’s CEO, Lisa Su, highlighted the company’s strong start to 2026, driven by increased AI adoption and demand for compute infrastructure. The rise of AI agents has significantly boosted the need for CPUs, despite the critical role of GPUs in AI acceleration.
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Despite the positive outlook, Ark’s decision to sell AMD shares may indicate a strategic shift. The company has been capitalizing on AMD’s recent performance, as the stock has been hot due to the AI-driven demand surge. On Tuesday, Ark sold $16 million worth of AMD shares, while on Wednesday the firm offloaded stock worth $8 million. AMD stock has shot up over 16% in the last 5 days
The Tempus AI Trade
In contrast, Ark Invest increased its position in Tempus AI Inc. by acquiring a total of 154,045 shares across its ARK Genomic Revolution ETF and ARKK funds. The purchase, valued at approximately $7.7 million, was made at Tempus AI’s closing price of $49.47.
Tempus AI recently reported a 36.1% rise in first-quarter revenue, driven by strong demand for its oncology diagnostics and AI-driven data business. The company exceeded analyst expectations with quarterly revenue reaching $348.1 million. Despite widening net losses, Tempus AI raised its full-year revenue outlook, signaling confidence in its growth trajectory.
See Also: Avoid the #1 Investing Mistake: How Your ‘Safe' Holdings Could Be Costing You Big Time
This strategic investment by Ark reflects confidence in Tempus AI’s potential, particularly given its impressive revenue growth and market position. The company’s diagnostics revenue saw a 34.7% increase, while its data and applications revenue climbed 40.5% to $87 million, underscoring its robust performance in the AI sector.
Story Continues
Ark purchased $7.8 million worth of Tempus AI stock on Thursday.
Other Key Trades:
Sold 44,291 shares of CareDx Inc. (CDNA) from ARKG. Sold 33,134 shares of Adaptive Biotechnologies Corp. (ADPT) from ARKG. Bought 102,247 shares of Intellia Therapeutics Inc. (NTLA) in ARKK. Sold 9,210 shares of Teradyne Inc. (TER) from ARKK.
Photo: Ira Lichi / Shutterstock
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- Dickens: Why You Should Care about Secondary AI Names
May 8, 2026 · youtube.com
Steven Dickens sits with Nicole Petallides to dive into some underappreciated players in the AI investment theme including IBM (IBM), Teradata (TER) and even Amazon (AMZN). He talks about the inertia AI capex spending from the Mag 7 names has on secondary derivatives, calling them "hidden gems.
- How Teradyne’s AI-Driven Record Q1 And Guidance At Teradyne (TER) Has Changed Its Investment Story
May 8, 2026
Teradyne, Inc. recently reported first-quarter 2026 results showing sales of US$1,282.49 million and net income of US$398.91 million, and issued second-quarter revenue guidance of US$1,150 million to US$1,250 million with GAAP diluted EPS of US$1.83 to US$2.12. With AI-related applications now contributing nearly 70% of revenue and a quarterly dividend of US$0.13 per share declared, Teradyne’s earnings profile is increasingly tied to AI infrastructure spending while still returning cash to shareholders. Against this backdrop of AI-driven revenue strength, we’ll examine how Teradyne’s record first-quarter performance reshapes its investment narrative and future assumptions.
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Teradyne Investment Narrative Recap
To own Teradyne, you need to believe that demand for AI-focused semiconductor test equipment can stay healthy enough to support its current, AI-heavy revenue mix. The immediate catalyst is whether AI infrastructure spending remains strong enough to support management’s Q2 2026 guidance range. The biggest risk is that this demand proves volatile, especially if trade policy or capex budgets shift; the latest results reinforce near term strength but do not remove that uncertainty.
The most relevant recent announcement is Teradyne’s Q2 2026 guidance for US$1,150 million to US$1,250 million in revenue and GAAP diluted EPS of US$1.83 to US$2.12. This guidance sits on top of record Q1 results and underscores how tightly Teradyne’s near term outlook is linked to AI-related test demand. For investors focused on catalysts, it frames a clear bar for upcoming execution and how quickly any slowdown in orders would show up in reported numbers.
Yet even with strong AI demand today, Teradyne’s reliance on cyclical, capex driven semiconductor spending is a risk investors should be aware of...
Read the full narrative on Teradyne (it's free!)
Teradyne's narrative projects $6.7 billion revenue and $2.0 billion earnings by 2029. This requires 20.9% yearly revenue growth and roughly a $1.1 billion earnings increase from $854.1 million today.
Uncover how Teradyne's forecasts yield a $369.53 fair value, a 4% upside to its current price.
Exploring Other PerspectivesTER 1-Year Stock Price Chart
Some of the most optimistic analysts were already modeling Teradyne’s earnings to reach about US$2.2 billion by 2029, far above consensus, before this AI driven upside. If you lean toward that view, the recent AI fueled beat could look like early confirmation, but it also sharpens the concern that heavy dependence on cyclical, capex driven chip spending might cut both ways when conditions turn.
Story Continues
Explore 8 other fair value estimates on Teradyne - why the stock might be worth as much as 17% more than the current price!
Decide For Yourself
Don't just follow the ticker - dig into the data and build a conviction that's truly your own.
A great starting point for your Teradyne research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. Our free Teradyne research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Teradyne's overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TER.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Has Teradyne (TER) Run Too Far After Its 70.6% Year To Date Surge?
May 8, 2026
Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge.
How Teradyne's Recent Run Sets Up a Valuation Question
Teradyne's share price has moved sharply in recent periods, and if you are wondering whether the current level still makes sense, the numbers give you plenty to think about.
Over shorter horizons the stock has recorded returns of 3.1% over 7 days and 10.5% over 30 days, while the year to date return stands at 70.6%. Over longer periods, the 1 year, 3 year and 5 year returns are 362.5%, 293.1% and 208.1% respectively.
These price moves have been unfolding alongside ongoing interest in Teradyne's role in semiconductor testing equipment and automation. Investors pay close attention to how the company is positioned within broader technology and capital spending themes. News around demand for semiconductor production capacity, factory automation trends and the competitive environment for testing solutions has been central to how the stock is being framed in market conversations.
Despite this strong share price history, Teradyne currently records a valuation score of 0 out of 6, which means it does not screen as undervalued on any of the standard checks used here. The next sections will walk through the main valuation approaches used to reach that assessment and then finish with a broader way to think about what valuation really means for your own investment process.
Teradyne scores just 0/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.
Approach 1: Teradyne Discounted Cash Flow (DCF) Analysis
A Discounted Cash Flow, or DCF, model takes projected future cash flows, discounts them back to today using a required return, and adds them up to estimate what the business could be worth per share right now.
For Teradyne, the model used is a 2 Stage Free Cash Flow to Equity approach. The latest twelve month free cash flow is about $533 million. Analysts have provided explicit free cash flow estimates for several years ahead, and Simply Wall St extrapolates these further, with projected free cash flow reaching $2.29b in 2030. All figures are in US$.
On this basis, the DCF model arrives at an estimated intrinsic value of $185.73 per share. Compared with the current market price, the implied intrinsic discount suggests the stock is about 90.7% overvalued. This is a wide gap and indicates that expectations built into the share price are high.
Result: OVERVALUED
Our Discounted Cash Flow (DCF) analysis suggests Teradyne may be overvalued by 90.7%. Discover 51 high quality undervalued stocks or create your own screener to find better value opportunities.
Story Continues
TER Discounted Cash Flow as at May 2026
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Teradyne.
Approach 2: Teradyne Price vs Earnings
For a profitable company, the P/E ratio is a useful shorthand for how much investors are paying for each dollar of earnings. This makes it a common way to compare stocks that already generate consistent profits.
What counts as a "normal" P/E depends on how fast earnings are expected to grow and how risky those earnings are. Higher growth or lower perceived risk can support a higher multiple, while slower growth or higher risk usually lines up with a lower one.
Teradyne currently trades on a P/E of 64.91x. That sits above the semiconductor industry average of 53.66x and the peer group average of 57.88x. This suggests the stock is priced more expensively than many comparable companies on this simple measure.
Simply Wall St's Fair Ratio is designed to go a step further. It estimates what a reasonable P/E could be for Teradyne based on factors such as earnings growth, industry, profit margin, market cap and risk profile, rather than just lining it up against peers.
On this basis, Teradyne's Fair Ratio is 51.51x, which is below the current P/E of 64.91x. This indicates the stock screens as overvalued on this metric.
Result: OVERVALUEDNasdaqGS:TER P/E Ratio as at May 2026
P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 19 top founder-led companies.
Upgrade Your Decision Making: Choose your Teradyne Narrative
Earlier it was mentioned that there is an even better way to understand valuation. On Simply Wall St this comes through Narratives, where you set out your own story for Teradyne, link it to specific forecasts for revenue, earnings and margins, and arrive at a Fair Value that can be compared with the current price. Every Narrative on the Community page updates automatically when new data such as news or earnings arrives. For example, a bullish Teradyne Narrative might lean closer to a Fair Value around US$415, while a cautious Narrative might sit nearer to US$74. This gives you a clear and accessible framework to decide whether the stock looks attractively priced or stretched against your own expectations.
For Teradyne, here are previews of two leading Teradyne Narratives to help frame the debate:
🐂 Teradyne Bull Case
Fair value: US$369.53
Implied pricing gap vs last close: about 4.2% below that fair value
Analyst revenue growth assumption: 20.90% per year
AI accelerators, robotics and semiconductor automation are central to the revenue and margin outlook, supported by test wins in areas such as AI compute and advanced mobile. Analysts building this view factor in higher net profit margins, ongoing share buybacks and contributions from silicon photonics and board level test as additional earnings drivers. Tariffs, product mix shifts and uncertainty in robotics demand are key watchpoints that could affect how closely actual results track the consensus path.
🐻 Teradyne Bear Case
Fair value: US$141.40
Implied pricing gap vs last close: about 150.4% above that fair value
Analyst revenue growth assumption: 17.87% per year
This more cautious view highlights risks from competition, potential commoditisation in automated test equipment and dependence on AI and cloud chip spending. Assumptions include slower revenue growth, lower long run margins and a reduced P/E multiple, which together indicate a much lower fair value than the current share price. Upside risks to this view include stronger than expected AI test demand, successful scaling of robotics and benefits from silicon photonics test, which could support higher earnings than the bearish case implies.
These two Narratives outline a wide fair value range. The key step is deciding which set of revenue, margin and multiple assumptions aligns more closely with your own expectations for Teradyne.
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Teradyne on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.
Do you think there's more to the story for Teradyne? Head over to our Community to see what others are saying!NasdaqGS:TER 1-Year Stock Price Chart
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TER.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
View Comments
