Teradyne, Inc. (NASDAQ:TER) Q3 2023 Earnings Call Transcript

Steve Barger: And so that’s a good segue to a quick follow-up. You mentioned being ready to execute M&A if something makes sense, which I don’t recall being a big topic the past few quarters. Are you thinking more about that? And where would you focus on that across the portfolio?

Greg Smith: So we’re always thinking about M&A. So the — just to remind you, our capital allocation strategy is that accretive M&A is the highest priority identified use for capital. When we do not find suitable M&A targets, we return that cash flow to our investors, primarily through buybacks. And of course, we have the dividend as well. We always have a pipeline running. We’re always looking at things, and we don’t comment on what’s in our pipeline.

Steve Barger: Got it. Thanks.

Andy Blanchard: All right, operator, we’re about out of time. So I’d like to just thank everybody for joining. And if you have questions, please reach out directly to me, Andy Blanchard. Take care and look forward to talking to you over the weeks ahead. Bye-bye.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.