8 Most Promising Robotics Stocks According to Hedge Funds

6. Teradyne, Inc. (NASDAQ:TER)

Number of Hedge Fund Holders: 41

Teradyne, Inc. (NASDAQ:TER) is a renowned supplier of automated test equipment and robotics solutions globally. The company operates through four segments including Semiconductor Test, System Test, Wireless Test, and Robotics. The company’s robotics segment designs and manufactures robotic arms, autonomous mobile robots, and advanced robotic control software.

Teradyne, Inc.’s (NASDAQ:TER) robotics business is operating in an industrial macro backdrop. Compared to Teradyne’s industrial automation peers experiencing an average decline of over 10% year-over-year, the company’s robotics business has delivered 8% growth, as of Q3. The company’s main focus remains on robotics go-to-market transformation and developing OEM solutions for Universal Robots. Moreover, the OEM growth has helped Teradyne Robotics to outperform its peer group in budget-constrained market conditions.

Teradyne Robotics’ autonomous mobile robot arm MiR is working in collaboration with its Danish partner collaborative robot firm Universal Robots. Earlier in 2024, Teradyne Robotics partnered with NVIDIA to bring new AI capabilities to automation applications. The company’s MiR1200 Pallet Jack is a breakthrough product backed by NVIDIA-powered AI. MiR1200 is developed to solve a severe problem in the physical industrial world. The company has completed the beta customer trials of MiR1200 and expects commercial deliveries in Q4. This is a huge development for Teradyne as MiR1200 will bring an additional revenue stream once it makes it to the market.