Teradyne, Inc. Files 2023 Annual Report on Form 10-K
Ticker: TER · Form: 10-K · Filed: Feb 22, 2024 · CIK: 97210
Sentiment: neutral
Topics: 10-K, Teradyne, Semiconductor Test, Robotics, Financial Report
TL;DR
<b>Teradyne, Inc. has filed its 2023 10-K report detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>
AI Summary
TERADYNE, INC (TER) filed a Annual Report (10-K) with the SEC on February 22, 2024. Teradyne, Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is in instruments for measuring and testing electricity and electric signals. Teradyne is incorporated in Massachusetts (MA). The filing includes data related to various financial instruments and operating segments.
Why It Matters
For investors and stakeholders tracking TERADYNE, INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Teradyne's financial health, operational segments, and risk factors for the fiscal year 2023, crucial for investors to assess performance and future outlook. The detailed financial data and disclosures within the report are essential for understanding the company's market position, competitive landscape, and regulatory compliance in the semiconductor test and robotics industries.
Risk Assessment
Risk Level: medium — TERADYNE, INC shows moderate risk based on this filing. The company operates in the semiconductor test and robotics industries, which are subject to cyclical demand, technological advancements, and global economic conditions, as indicated by the various operating segments and financial instruments mentioned.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-K to understand Teradyne's performance drivers and potential challenges in its key markets.
Key Numbers
- 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
- 20240222 — Filing Date (FILED AS OF DATE)
- MA — State of Incorporation (STATE OF INCORPORATION)
- 3825 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
Key Players & Entities
- TERADYNE, INC (company) — FILER
- MA (location) — STATE OF INCORPORATION
- 0000097210 (company) — CENTRAL INDEX KEY
- 3825 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
- 20231231 (date) — CONFORMED PERIOD OF REPORT
- 20240222 (date) — FILED AS OF DATE
- 978-370-2700 (phone) — BUSINESS PHONE
- 001-06462 (filing_id) — SEC FILE NUMBER
FAQ
When did TERADYNE, INC file this 10-K?
TERADYNE, INC filed this Annual Report (10-K) with the SEC on February 22, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by TERADYNE, INC (TER).
Where can I read the original 10-K filing from TERADYNE, INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TERADYNE, INC.
What are the key takeaways from TERADYNE, INC's 10-K?
TERADYNE, INC filed this 10-K on February 22, 2024. Key takeaways: Teradyne, Inc. filed its 2023 Form 10-K on February 22, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal business is in instruments for measuring and testing electricity and electric signals..
Is TERADYNE, INC a risky investment based on this filing?
Based on this 10-K, TERADYNE, INC presents a moderate-risk profile. The company operates in the semiconductor test and robotics industries, which are subject to cyclical demand, technological advancements, and global economic conditions, as indicated by the various operating segments and financial instruments mentioned.
What should investors do after reading TERADYNE, INC's 10-K?
Investors should review the detailed financial statements and risk factors in the 10-K to understand Teradyne's performance drivers and potential challenges in its key markets. The overall sentiment from this filing is neutral.
Risk Factors
- Market and Economic Conditions [medium — market]: The company's business is subject to fluctuations in demand for its products and services, influenced by global economic conditions and the cyclical nature of the semiconductor industry.
- Product Development and Technological Changes [medium — operational]: Rapid technological changes in the industries served by Teradyne require continuous innovation and investment in research and development to remain competitive.
- Financial Market Risks [medium — financial]: The company is exposed to risks related to interest rate fluctuations, foreign currency exchange rates, and the availability and cost of capital.
Key Dates
- 2024-02-22: 10-K Filing — Annual report filing for fiscal year 2023
Glossary
- 10-K
- An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This document provides the official annual financial and business overview of Teradyne, Inc.)
Filing Stats: 4,310 words · 17 min read · ~14 pages · Grade level 14.4 · Accepted 2024-02-22 15:34:26
Key Financial Figures
- $0.125 — h registered Common Stock , par value $0.125 per share TER Nasdaq Stock Market L
- $85.0 million — utions ("DIS") business in exchange for $85.0 million. The transaction is expected to close d
Filing Documents
- ter-20231231.htm (10-K) — 5777KB
- ter-ex4_3.htm (EX-4.3) — 26KB
- ter-ex10_38.htm (EX-10.38) — 113KB
- ter-ex21_1.htm (EX-21.1) — 93KB
- ter-ex23_1.htm (EX-23.1) — 3KB
- ter-ex31_1.htm (EX-31.1) — 12KB
- ter-ex31_2.htm (EX-31.2) — 13KB
- ter-ex32_1.htm (EX-32.1) — 6KB
- ter-ex32_2.htm (EX-32.2) — 7KB
- ter-ex97_1.htm (EX-97.1) — 47KB
- img13843946_0.jpg (GRAPHIC) — 275KB
- 0000950170-24-018701.txt ( ) — 29743KB
- ter-20231231.xsd (EX-101.SCH) — 3117KB
- ter-20231231_htm.xml (XML) — 7831KB
Business
Business 2 Item 1A.
Risk Factors
Risk Factors 10 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 21 Item 2.
Properties
Properties 23 Item 3.
Legal Proceedings
Legal Proceedings 23 Item 4. Mine Safety Disclosure 23 PART II. Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 24 Item 6. (Reserved) 24 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operation
Management's Discussion and Analysis of Financial Condition and Results of Operation 25 Item 7A.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 36 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 38 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 87 Item 9A.
Controls and Procedures
Controls and Procedures 87 Item 9B. Other Information 87 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 PART III. Item 10. Directors, Executive Officers and Corporate Governance 88 Item 11.
Executive Compensation
Executive Compensation 88 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 88 Item 13. Certain Relationships and Related Transactions, and Director Independence 88 Item 14. Principal Accountant Fees and Services 88 PART IV. Item 15. Exhibits and Financial Statement Schedule 89 Item 16. Form 10-K Summary 90
Signatures
Signatures 95 Table of Contents TERADYNE, INC. FORM 10-K SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements" regarding Teradyne's future business prospects, financial performance or position and results of operations. When used herein, the words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "goal," or other comparable terms are intended to identify forward-looking statements although not all forward-looking statements contain these identifying words. Forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the section entitled "Risk Factors" of this Annual Report on Form 10-K and elsewhere, and in our other filings with the Securities and Exchange Commission ("SEC"). Readers are cautioned not to place undue reliance on these forward-looking statements which reflect management's analysis only as of the date hereof and are subject to risks and uncertainties that could cause actual results to differ materially from those stated or implied. Teradyne assumes no obligation to update these forward-looking statements for any reason, except as may be required by law. 1 Table of Contents PA RT I
: B usiness
Item 1: B usiness Teradyne, Inc. ("Teradyne") was founded in 1960 and is a leading global supplier of automated test equipment and robotics solutions. We design, develop, manufacture and sell automated test systems and robotics products. Our automated test systems are used to test semiconductors, wireless products, data storage and complex electronics systems in many industries including consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense industries. Our robotics products include collaborative robotic arms and autonomous mobile robots ("AMRs") used by global manufacturing, logistics and industrial customers to improve quality, increase manufacturing and material handling efficiency and decrease manufacturing and logistics costs. Our automated test equipment and robotics products and services include: semiconductor test ("Semiconductor Test") systems; storage and system level test ("Storage Test") systems, defense/aerospace ("Defense/Aerospace") test instrumentation and systems, and circuit-board test and inspection ("Production Board Test") systems (collectively these products represent "System Test"); wireless test ("Wireless Test") systems; and robotics ("Robotics") products. The market for our test products is concentrated with a limited number of significant customers accounting for a substantial portion of the purchases of test equipment. A few customers drive significant demand for our products both through direct sales and sales to the customer's supply partners. We expect that sales of our test products will continue to be concentrated with a limited number of significant customers for the foreseeable future. In 2023, the demand in our Semiconductor Test business continued to be impacted by a correction cycle driven by excess semiconductor inventory, primarily in the mobility segment of the market. The depth of this slowdown and the timing of the recovery are uncertain, however, strong