Profile: Teradyne Inc (TER)
22 Nov 2017
Teradyne, Inc., incorporated on September 23, 1960, is a global supplier of automation equipment for test and industrial applications. The Company is engaged in designing, developing, manufacturing and selling automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense industries. It operates through four segments: Semiconductor Test, System Test, Industrial Automation and Wireless Test. The Semiconductor Test segment includes operations related to the design, manufacturing and marketing of semiconductor test products and services. The System Test segment includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace instrumentation test, storage test and circuit-board test. The Wireless Test segment includes operations related to the design, manufacturing and marketing of wireless test products and services. The Industrial Automation segment includes operations related to the design, manufacturing and marketing of collaborative robots. The Wireless Test segment includes operations related to the design, manufacturing and marketing of wireless test products and services.
The Company's automatic test equipment and industrial automation products and services include semiconductor test (Semiconductor Test) systems; defense/aerospace (Defense/Aerospace) test instrumentation and systems, storage test (Storage Test) systems, and circuit-board test and inspection (Production Board Test) systems (collectively these products represent System Test); wireless test (Wireless Test) systems, and industrial automation (Industrial Automation) products. The Company has a customer base, which includes integrated device manufacturers (IDMs); outsourced semiconductor assembly and test providers (OSATs); original equipment manufacturers (OEMs); wafer foundries; fabless companies that design, but contract with others for the manufacture of integrated circuits (ICs); developers of wireless devices and consumer electronics; manufacturers of circuit boards; wireless product manufacturers; storage device manufacturers; aerospace and military contractors, and distributors that sell collaborative robots.
The Company designs, manufactures, sells and supports Semiconductor Test products and services around the world. The test systems, which the Company provides, are used both for wafer-level and device-package testing. These chips are used in automotive, industrial, communications, consumer, and computer and electronic game applications, among others. The Semiconductor Test products and services are sold to IDMs that integrate the fabrication of silicon wafers into their business, Fabless companies that outsource the manufacturing of silicon wafers, Foundries that cater to the processing and manufacturing of silicon wafers, and OSATs that provide test and assembly services for the final packaged devices to both Fabless companies and IDMs.
The FLEX Test Platform had an installed base of more than 5,500 systems, as of December 31, 2016. The Company's J750 test system shares the IG-XL software environment with the family of FLEX Test Platform systems. The J750 is designed to address semiconductor devices, such as microcontrollers that are central to the functionality of most consumer electronics product, from small appliances to automobiles. The Company extended the J750 platform technology to create the IP750 Image Sensor test system. The IP750 is focused on testing image sensor devices used in smart phones and other imaging products. The J750 platform had an installed base of over 5,200 systems, as of December 31, 2016.
The Company's Magnum platform addresses the requirements of mass production test of memory devices, such as flash memory and dynamic random access memory (DRAM). The Flash and DRAM memory devices has application in consumer, industrial and computing equipment. The Magnum V is a memory test solution designed for parallel memory test in the flash, DRAM and multi-chip package markets. The Magnum platform had an installed base of over 2,100 systems, as of December 31, 2016.
The Company's ETS platform is used by semiconductor manufacturers, and assembly and test subcontractors, primarily in the analog/mixed signal markets that cover applications. Its SmartPin technology enables multi-site testing, on an individual test system. Semiconductors tested by these systems are incorporated into a range of products, including mobile devices, video/multimedia products, automotive electronics, computer peripherals and notebook and desktop computers. The Company's ETS-88, a multi-site production test system is designed to test a range of volume commodity and precision devices. The ETS platform had an installed base of over 4,100 systems, as of December 31, 2016.
The Company competes with Advantest Corporation and Xcerra Corporation.
The Company's Systems Test segment consists of three business units: Defense/Aerospace, Storage Test and Production Board Test. It is a provider of test systems, subsystems, instruments and service for the defense and aerospace markets. Its test products are used to ensure the readiness of military and commercial aerospace electronics systems. Its test products are well suited to the demands of defense/aerospace electronics manufacturers and repair depots around the world. The Storage Test business unit addresses the automated manufacturing test requirements of hard disk drive (HDD) and solid state disk (SSD) manufacturers. It offers products for the client and enterprise storage markets. Its test systems are used by electronics manufacturers around the world to perform In-Circuit-Test (ICT) and device programming of printed circuit board assemblies. It offers the Test Station in off-line and automated in-line configurations. The automated in-line configurations address the growing requirements for automating production lines for applications, such as automotive electronics.
The Company competes with Keysight Technologies, Inc., Astronics, Test Research Inc. and SPEA S.p.A.
The Company's Universal Robots is a supplier of collaborative robots that work side by side with production workers. Collaborative robots are designed to mimic the motion of a human arm and can be fitted with task specific grippers or fixtures to support a range of applications. Universal Robots offer over three collaborative robot models, the UR3, UR5 and UR10, each with different weight carrying capacity and arm reach. Universal Robots has sold over 12,000 collaborative robots in diverse production environments and applications, as of December 31, 2016.
The Company competes with KUKA Robotics Corporation, ABB, FANUC and Yaskawa Electric Corporation.
The Company's LitePoint designs, develops and supports wireless test equipment for the manufacturing of wireless devices, including smart phones, tablets, notebooks, laptops, peripherals and Internet-of-Things (IoT). LitePoint hardware and software wireless test solutions are used in test insertions that span design verification to manufacturing and are deployed across the entire production eco-system from the wireless chipset suppliers to the consumer brands. Wireless devices are often tested at multiple points along the manufacturing process that include insertions at component, system-in-package (SiP), module, printed circuit board (PCB), Surface Mount Technology (SMT) and finished product stages.
Wireless standards include two categories: connectivity and cellular. Connectivity covers many standards, such as Wireless Fidelity (Wi-Fi), Bluetooth, and Global Positioning System (GPS). LitePoint's IQxel products cover emerging Wi-Fi standards and other standards, such as Bluetooth Classic, Bluetooth 5.0 and Bluetooth low energy. The IQxstream is a multi-device under test (DUT) optimized solution for high-speed testing of global system for mobile (GSM), enhanced data-rates for global evolution (EDGE), code division multiple access 2000 (CDMA2000), time division synchronous code division multiple access (TD-SCDMA), wideband code division multiple access (WCDMA), high speed packet access+ (HSPA+), long-term evolution-frequency-division duplexing (LTE-FDD), time division (TD)-LTE and LTE-Advanced technologies used for calibration and verification of smartphones, tablets, small cell wireless gateways and embedded cellular modules. It offers LitePoint zSeries of modular wireless test instruments for design verification test and production testing of these wireless components. The lab-in-a-box zSeries solution provides design verification of radio frequency (RF) power amplifier and smart device RF front end modules. It is capable of analysis of the digital pre-distortion and envelope tracking technologies for both long term evolution (LTE) and Wi-Fi standards.
The Company competes with Rohde & Schwarz GmbH & Co. KG, Anritsu Company, Keysight Technologies, Inc. and National Instruments Corporation.
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