Teradyne Reports Better Than Expected Q4 Results 
<p><a href='https://financialmodelingprep.com/financial-summary/TER'>Teradyne (NASDAQ:TER)</a> reported its Q4 results, with EPS of $0.92 coming in better than the Street estimate of $0.75. Revenue was $732 million, beating the Street estimate of $711.84 million.</p>
<p>For fiscal 2023, the company expects SoC Test market to be down 10-30% year-over-year, with weakness across all end markets, including auto and industrial. Also interesting is that the company is only expecting a modest increase in revenue from Apple and that the tester purchases from Apple are likely to be later in the year.</p>
<p>Analysts at Deutsche Bank raised their price target on the company’s shares to $95 from $85 while maintaining their Hold rating. The analysts lowered their 2023 revenue/EPS estimates from $3.2 billion/$4.00 to $2.8 billion/$3.00. Although the analysts lowered their 2024 EPS estimate by approximately 15%, given management's conviction of accelerated growth beyond 2023, they raised their target multiple which leads to an increase in their price target.</p>

NASDAQ:TER