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ADI or FORM or TER
Which Stock Would AI Choose? Analog Devices (ADI) vs. FormFactor (FORM) vs. Teradyne (TER) Stock Comparison
Key Takeaways
- TER leads with explosive growth, up over 375% in the past year and 84% YTD, fueled by AI-driven semiconductor testing demand representing ~70% of recent revenue.
- FORM shows remarkable momentum at 386% one-year gains and 160% YTD, with record Q1 revenue up 32% year-over-year from probe card sales in AI memory testing.
- ADI delivers steady strength, rising 108% over the past year and 50% YTD, supported by resilient industrial and automotive segments amid AI data center growth.
- All three benefit from semiconductor tailwinds, but TER and FORM exhibit higher volatility tied to AI chip testing cycles, while ADI offers broader diversification.
- Recent earnings beats across the board highlight sector momentum, with elevated P/E ratios (ADI ~73x, FORM ~158x, TER ~64x) reflecting growth premiums.
Introduction
This stock comparison examines ADI (Analog Devices, Inc.), FORM (FormFactor, Inc.), and TER (Teradyne, Inc.), key players in the semiconductor ecosystem benefiting from AI infrastructure expansion. Analog Devices focuses on analog and mixed-signal chips, while FormFactor and Teradyne specialize in test equipment critical for advanced chip validation. Traders seeking exposure to AI-driven demand in data centers, memory, and compute, and investors eyeing relative performance in recent market activity, will find value in understanding their momentum, valuations, and sector positioning. This analysis draws on recent financial results and market trends for objective insights into their comparative strengths.
ADI Overview and Recent Performance
Analog Devices, Inc. (ADI) is a global leader in analog, mixed-signal, and digital signal processing integrated circuits (ICs), serving industrial, automotive, communications, and consumer markets. The company designs, manufactures, and markets solutions that bridge real-world signals with digital systems, including data converters, amplifiers, power management ICs, and sensors.
In recent market activity, ADI shares have climbed around 50% year-to-date and over 100% in the past year, trading near $405 with a market cap exceeding $197 billion. Recent quarters showed revenue growth of 30% year-over-year to $3.16 billion in fiscal Q1 2026, with adjusted EPS of $2.46 beating estimates, driven by strength in industrial automation, electrification, and data center applications. Sentiment has improved on resilient demand offsetting softer consumer segments, positive guidance for $3.5 billion in Q2 revenue, and an 11% dividend hike, though shares reflect premium valuations amid broader semiconductor volatility.
FORM Overview and Recent Performance
FormFactor, Inc. (FORM) provides essential test and measurement technologies for semiconductors, including probe cards, analytical probes, probe stations, thermal, and cryogenic systems across the IC lifecycle—from design to production testing.
Recent weeks have seen FORM shares surge approximately 160% year-to-date and 386% over the past year, trading around $145 with a market cap of about $11 billion. Fiscal Q1 2026 delivered record revenue of $226 million, up 32% year-over-year and 5% sequentially, with non-GAAP gross margins expanding to 49% and EPS of $0.56 topping forecasts. Performance reflects robust demand for high-bandwidth memory (HBM) and foundry/logic probe cards tied to AI advancements, with Q2 guidance at $240 million underscoring ongoing strength, though elevated volatility persists in test equipment cycles.
TER Overview and Recent Performance
Teradyne, Inc. (TER) designs, develops, manufactures, and sells automated test systems and robotics products, primarily for semiconductor testing in automotive, industrial, communications, and AI applications, alongside collaborative robots.
TER has posted standout gains of 85% year-to-date and 375% in the past year, trading near $357 with a market cap around $56 billion. Q1 2026 revenue hit a record $1.28 billion, up 87% year-over-year, with adjusted EPS of $2.56 exceeding estimates by 21%, as AI-related demand comprised ~70% of sales, particularly in compute and memory devices. Positive analyst upgrades followed, though Q2 guidance indicated a sequential dip, contributing to short-term price swings amid high expectations for sustained AI infrastructure growth.
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Head-to-Head Comparison
ADI, FORM, and TER operate in interconnected semiconductor domains but diverge in business models: ADI emphasizes broad analog/mixed-signal ICs with diversified end-markets (industrial ~45%, communications ~30%), providing stability via long-cycle demand; FORM and TER focus on capital-intensive test equipment (probe cards and systems for FORM, ATE for TER), highly sensitive to AI chip ramps in HBM and advanced nodes.
Growth drivers highlight contrasts: TER and FORM leverage direct AI exposure (70%+ revenue tie-in), yielding triple-digit recent momentum, while ADI benefits indirectly via data center power/signal solutions. Risk factors include cyclicality—test firms face lumpier orders versus ADI’s recurring sales—and geopolitical supply chain tensions. Valuation sensitivity shows premiums: ADI P/E ~73x, FORM ~158x, TER ~64x, with market caps $198B, $11B, $56B respectively, trading at elevated EV/EBITDA amid growth optimism. Market sentiment favors test equipment for AI purity but views ADI as a defensive anchor.
Tickeron AI Verdict
Tickeron’s AI currently favors TER for its superior trend consistency in AI testing, record revenue catalysts, and relative positioning with ~70% AI revenue exposure amid robust Q1 beats and analyst upgrades. While FORM matches momentum and ADI provides stability, TER’s growth trajectory and sector leadership suggest higher probabilistic outperformance in the near term, barring cyclical slowdowns.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer. Disclaimers and Limitations
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ADI’s FA Score shows that 2 FA rating(s) are green whileFORM’s FA Score has 2 green FA rating(s), and TER’s FA Score reflects 2 green FA rating(s).
- ADI’s FA Score: 2 green, 3 red.
- FORM’s FA Score: 2 green, 3 red.
- TER’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ADI’s TA Score shows that 3 TA indicator(s) are bullish while FORM’s TA Score has 3 bullish TA indicator(s), and TER’s TA Score reflects 5 bullish TA indicator(s).
- ADI’s TA Score: 3 bullish, 5 bearish.
- FORM’s TA Score: 3 bullish, 4 bearish.
- TER’s TA Score: 5 bullish, 4 bearish.
Price Growth
ADI (@Semiconductors) experienced а +0.23% price change this week, while FORM (@Electronic Production Equipment) price change was -14.61% , and TER (@Electronic Production Equipment) price fluctuated -6.08% for the same time period.
The average weekly price growth across all stocks in the @Semiconductors industry was +4.47%. For the same industry, the average monthly price growth was +39.39%, and the average quarterly price growth was +81.10%.
The average weekly price growth across all stocks in the @Electronic Production Equipment industry was -0.97%. For the same industry, the average monthly price growth was +20.42%, and the average quarterly price growth was +140.48%.
Reported Earning Dates
ADI is expected to report earnings on May 20, 2026.
FORM is expected to report earnings on Aug 05, 2026.
TER is expected to report earnings on Jul 28, 2026.
Industries' Descriptions
@Semiconductors (+4.47% weekly)The semiconductor industry manufacturers all chip-related products, including research and development. These chips are used in innumerable electronic devices, including computers, cell phones, smartphones, and GPSs. Intel Corporation, NVIDIA Corp., and Broadcomm are some of the prominent players in this industry. Semiconductor companies usually tend to do well during periods of healthy economic growth, thereby inducing further research and development in the industry – which in turn augurs well for productivity and growth in the economy. In the near future, demand for semiconductor products (and possibly innovation within the segment) should only expand further, with the proliferation of 5G, autonomous vehicles, IoT, and various AI-driven electronics set to herald a new, advanced chapter in the technology-driven world as we know it. With burgeoning prospects comes great competition. In 2015, SIA estimated that U.S. semiconductor industry ranks as the second most competitive U.S. industry out of 2882 U.S. industries designated manufacturers by the U.S. Census Bureau.
@Electronic Production Equipment (-0.97% weekly)The electronic production equipment industry makes equipment used to produce semiconductors. Such equipment includes wafer fabrication, plasma etching and photo-resist processing equipment. The industry also makes chemical vapor deposition processing systems and photomasks, which are high-purity quartz plates that contain patterns to define integrated circuits layouts. Applied Materials, Inc., Lam Research Corporation, and KLA-Tencor Corporation are examples of electronic production equipment manufacturing companies.
| ADI | FORM | TER | |
| Capitalization | 204B | 9.84B | 52.9B |
| EBITDA | 5.53B | 128M | 1.14B |
| Gain YTD | 54.424 | 126.371 | 74.634 |
| P/E Ratio | 76.32 | 145.13 | 62.69 |
| Revenue | 11.8B | 840M | 3.79B |
| Total Cash | 4.05B | 303M | 246M |
| Total Debt | 8.68B | 31.9M | 82.4M |
ADI | FORM | TER | ||
|---|---|---|---|---|
OUTLOOK RATING 1..100 | 84 | 89 | 87 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 67 Overvalued | 84 Overvalued | 77 Overvalued | |
PROFIT vs RISK RATING 1..100 | 8 | 23 | 25 | |
SMR RATING 1..100 | 77 | 80 | 34 | |
PRICE GROWTH RATING 1..100 | 10 | 36 | 36 | |
P/E GROWTH RATING 1..100 | 42 | 5 | 6 | |
SEASONALITY SCORE 1..100 | 50 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
ADI's Valuation (67) in the Semiconductors industry is in the same range as TER (77) in the Electronic Production Equipment industry, and is in the same range as FORM (84) in the Electronic Production Equipment industry. This means that ADI's stock grew similarly to TER’s and similarly to FORM’s over the last 12 months.
ADI's Profit vs Risk Rating (8) in the Semiconductors industry is in the same range as FORM (23) in the Electronic Production Equipment industry, and is in the same range as TER (25) in the Electronic Production Equipment industry. This means that ADI's stock grew similarly to FORM’s and similarly to TER’s over the last 12 months.
TER's SMR Rating (34) in the Electronic Production Equipment industry is somewhat better than the same rating for ADI (77) in the Semiconductors industry, and is somewhat better than the same rating for FORM (80) in the Electronic Production Equipment industry. This means that TER's stock grew somewhat faster than ADI’s and somewhat faster than FORM’s over the last 12 months.
ADI's Price Growth Rating (10) in the Semiconductors industry is in the same range as TER (36) in the Electronic Production Equipment industry, and is in the same range as FORM (36) in the Electronic Production Equipment industry. This means that ADI's stock grew similarly to TER’s and similarly to FORM’s over the last 12 months.
FORM's P/E Growth Rating (5) in the Electronic Production Equipment industry is in the same range as TER (6) in the Electronic Production Equipment industry, and is somewhat better than the same rating for ADI (42) in the Semiconductors industry. This means that FORM's stock grew similarly to TER’s and somewhat faster than ADI’s over the last 12 months.
| ADI | FORM | TER | |
|---|---|---|---|
| RSI ODDS (%) | 3 days ago 52% | 3 days ago 78% | 3 days ago 71% |
| Stochastic ODDS (%) | 3 days ago 71% | 3 days ago 89% | 3 days ago 70% |
| Momentum ODDS (%) | N/A | 3 days ago 77% | 3 days ago 73% |
| MACD ODDS (%) | 3 days ago 62% | 3 days ago 75% | 3 days ago 78% |
| TrendWeek ODDS (%) | 3 days ago 61% | 3 days ago 69% | 3 days ago 69% |
| TrendMonth ODDS (%) | 3 days ago 60% | 3 days ago 70% | 3 days ago 70% |
| Advances ODDS (%) | 7 days ago 61% | 7 days ago 77% | 7 days ago 77% |
| Declines ODDS (%) | 3 days ago 55% | 3 days ago 68% | 3 days ago 67% |
| BollingerBands ODDS (%) | 3 days ago 51% | N/A | 3 days ago 78% |
| Aroon ODDS (%) | 3 days ago 56% | 3 days ago 85% | 3 days ago 79% |
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FORM and
Correlation & Price change
A.I.dvisor indicates that over the last year, FORM has been closely correlated with RMBS. These tickers have moved in lockstep 74% of the time. This A.I.-generated data suggests there is a high statistical probability that if FORM jumps, then RMBS could also see price increases.
| Ticker / NAME | Correlation To FORM | 1D Price Change % | ||
|---|---|---|---|---|
| FORM | 100% | -1.34% | ||
| RMBS - FORM | 74% Closely correlated | -2.61% | ||
| SLAB - FORM | 73% Closely correlated | -0.33% | ||
| ADI - FORM | 72% Closely correlated | -2.18% | ||
| ARM - FORM | 72% Closely correlated | -8.46% | ||
| QCOM - FORM | 72% Closely correlated | +0.70% | ||
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TER and
Correlation & Price change
A.I.dvisor indicates that over the last year, TER has been closely correlated with STM. These tickers have moved in lockstep 74% of the time. This A.I.-generated data suggests there is a high statistical probability that if TER jumps, then STM could also see price increases.
| Ticker / NAME | Correlation To TER | 1D Price Change % | ||
|---|---|---|---|---|
| TER | 100% | -5.24% | ||
| STM - TER | 74% Closely correlated | -4.61% | ||
| TXN - TER | 72% Closely correlated | -1.77% | ||
| RMBS - TER | 72% Closely correlated | -2.61% | ||
| NXPI - TER | 71% Closely correlated | -0.91% | ||
| ADI - TER | 71% Closely correlated | -2.18% | ||
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