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inTEST Corporation (INTT)
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inTEST (INTT) AI Stock Analysis

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INTT

inTEST

(NYSE MKT:INTT)

Rating:68Neutral
Price Target:
$7.50
▲(3.16% Upside)
inTEST's overall stock score reflects a strong financial foundation and strategic initiatives, tempered by recent profitability challenges and valuation concerns. The company's focus on operational efficiency and strategic growth in key markets supports a positive outlook, although the semi market weakness and negative P/E ratio pose risks.
Positive Factors
Acquisitions
The company has a team in place to successfully identify and integrate future acquisitions, which are expected to be a significant part of the growth story.
Financial Performance
InTEST reported strong Q4 results, with revenue and EPS above estimates.
Growth Strategy
The VISION 2030 strategy outlines a strong, achievable roadmap for growth, with management noting better accounting for market cycles compared to previous targets.
Negative Factors
Macroeconomic Environment
The near term remains challenged by the macroeconomic environment, but there is an expectation for incremental improvement as the company progresses.
Operational Costs
The Company announced it was consolidating the Netherlands-based operations of the Videology business into the Massachusetts facility, which will result in $0.5M in annualized savings starting in 2026.

inTEST (INTT) vs. SPDR S&P 500 ETF (SPY)

inTEST Business Overview & Revenue Model

Company DescriptioninTEST Corporation supplies test and process solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through two segments, Thermal Products (Thermal) and Electromechanical Semiconductor Products (EMS). The Thermal segment offers ThermoStream products that are used in the semi market as a stand-alone temperature management tool, or in various electronic test applications; Thermal Chambers; Thermal Platforms; Thermonics temperature conditioning products that provide tempered gas or fluid; ultra-cold storage solutions, including biomedical freezers, refrigerators, and mobile storage solutions; EKOHEAT and EASYHEAT induction heating systems; and digital streaming and image capturing solutions. The EMS segment provides in2, Cobal, and LS series manipulators that hold various test heads and enable an operator to reposition a test head for alternate use with various probers or handlers on a test floor; and docking hardware products, which protect the interface contacts and ensure proper repeatable and precise alignment between the test head's interface board and the prober's probing assembly or the handler's test socket. This segment also offers tester interfaces that provide electrical connections between the tester and the wafer prober or integrated circuit (IC) handler; and scorpion flying probe test systems, which designs and manufactures robotics-based electronic test equipment, as well as provides application support services. Its products are used in production testing of wafers and specialized packaged ICs in back-end testing by semiconductor manufacturers. The company markets and sells its products to semiconductor manufacturers, third-party foundries, test and assembly providers, and original equipment manufacturers. inTEST Corporation was incorporated in 1981 and is headquartered in Mount Laurel, New Jersey.
How the Company Makes MoneyinTEST generates revenue through the sale of its test and measurement products, which are used by semiconductor manufacturers and electronic device makers to ensure quality and performance. The company earns revenue from both direct sales and through partnerships with major semiconductor and electronics firms. Key revenue streams include the sale of test fixtures and systems, thermal solutions, and software tools that aid in test process automation. Additionally, inTEST benefits from service agreements that provide ongoing support and maintenance for their products, ensuring a steady income from existing clients. The company's strategic partnerships with major industry players also help boost sales and expand market reach, contributing to its overall earnings.

inTEST Earnings Call Summary

Earnings Call Date:Aug 06, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 31, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a generally positive trajectory with strategic growth in key markets, successful debt reduction, and expansion initiatives. However, challenges remain in the semi market and overall revenue decline year-over-year, leading to a balanced outlook.
Q2-2025 Updates
Positive Updates
Revenue and Gross Margin Improvement
InTEST delivered over $28 million in revenue with gross margins above 42%, reflecting a sequential improvement despite ongoing economic uncertainties.
Order Growth in Strategic Markets
Orders grew by 10% sequentially, with significant increases in auto/EV (40%), life sciences (more than doubled), and safety/security (74%).
Debt Reduction Achievements
The company reduced its debt by $1.7 million in the quarter and $5 million year-to-date, bringing total debt down to approximately $10 million.
Strategic Expansion in Malaysia
The build-out of the manufacturing space in Malaysia was completed, with production slated to ramp-up in 2026, supporting regional growth and cost efficiency.
New Product Sales Contribution
New products accounted for $6 million, or just over 20% of total sales, showing solid progress towards a VISION 2030 goal of 25%.
Negative Updates
Semi Market Weakness
The semi market remained sluggish with a 24% decrease in orders sequentially, affecting overall performance.
Overall Revenue Decline Year-over-Year
Compared to Q2 2024, revenue was down $5.9 million, driven by declines in auto/EV sales and slight declines in other markets.
Net Loss in Q2 2025
Reported a net loss of $0.5 million or a loss of $0.04 per diluted share, despite achieving adjusted net earnings.
Company Guidance
During the inTEST Corporation's Second Quarter 2025 Financial Results Call, the company provided guidance for the third quarter of 2025, forecasting revenue between $28 million and $30 million. They anticipate maintaining gross margins similar to Q2 2025 at approximately 42.6%, with operating expenses ranging from $12.6 million to $13.1 million, excluding about $100,000 of restructuring expenses. Amortization and interest expenses are expected to remain consistent with the second quarter. The company emphasized their focus on cost control, having implemented several measures to improve profitability, including a reduction in operating expenses by $1 million sequentially. They expect sequential improvement in top-line and profitability throughout the year, although visibility into the timing of orders and shipments remains limited.

inTEST Financial Statement Overview

Summary
inTEST exhibits a strong financial position with substantial revenue growth over the years and a solid equity base. While profitability margins have come under pressure recently, and debt levels have increased, the company's ability to generate cash flow remains robust. Continued focus on improving operational efficiencies and managing debt will be crucial for sustaining its financial health.
Income Statement
72
Positive
The company has demonstrated a strong revenue growth trend over the years, with a notable increase from 2020 to 2025. However, the TTM period shows a decline in total revenue compared to the previous year. Gross profit margin remains healthy, but the net profit margin turned negative in the TTM, signaling a potential area of concern. EBIT and EBITDA margins have also weakened recently, indicating challenges in operational efficiency.
Balance Sheet
78
Positive
The company's balance sheet reflects a solid equity position with a consistent increase in stockholders' equity. The debt-to-equity ratio remains manageable, and the equity ratio is strong, indicating financial stability. However, the increase in total debt over the TTM period calls for cautious monitoring.
Cash Flow
75
Positive
inTEST has shown a positive trend in free cash flow, with significant growth in recent years. The operating cash flow to net income ratio is strong, reflecting good cash generation capability. However, the TTM period shows a decline in cash flow from operations, and the company's free cash flow growth rate has slowed down compared to the previous periods.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue127.50M130.69M123.30M116.83M84.88M53.82M
Gross Profit53.40M55.42M56.98M53.44M41.22M24.10M
EBITDA6.65M9.74M16.41M15.51M11.55M1.93M
Net Income-100.00K2.89M9.34M8.46M7.28M-895.00K
Balance Sheet
Total Assets148.03M152.29M134.83M110.07M103.91M62.03M
Cash, Cash Equivalents and Short-Term Investments22.05M19.83M45.26M13.43M21.20M10.28M
Total Debt22.48M26.04M17.46M22.49M26.72M7.26M
Total Liabilities48.63M52.50M38.55M45.11M49.08M17.28M
Stockholders Equity99.39M99.79M96.28M64.96M54.82M44.75M
Cash Flow
Free Cash Flow6.07M2.50M14.91M-2.75M9.84M2.59M
Operating Cash Flow7.28M3.82M16.20M-1.39M10.83M3.25M
Investing Cash Flow-1.04M-20.05M-1.29M-1.17M-21.37M-648.00K
Financing Cash Flow-11.17M-8.64M15.61M-3.73M21.73M-74.00K

inTEST Technical Analysis

Technical Analysis Sentiment
Positive
Last Price7.27
Price Trends
50DMA
7.21
Negative
100DMA
6.75
Positive
200DMA
7.36
Negative
Market Momentum
MACD
<0.01
Negative
RSI
50.63
Neutral
STOCH
49.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INTT, the sentiment is Positive. The current price of 7.27 is above the 20-day moving average (MA) of 7.05, above the 50-day MA of 7.21, and below the 200-day MA of 7.36, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.63 is Neutral, neither overbought nor oversold. The STOCH value of 49.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INTT.

inTEST Risk Analysis

inTEST disclosed 3 risk factors in its most recent earnings report. inTEST reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

inTEST Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$88.59M25.19-0.82%-0.81%-117.62%
61
Neutral
$35.51B8.11-10.49%1.89%8.55%-8.72%
58
Neutral
$744.29M19.55-3.34%-10.95%-111.40%
56
Neutral
$901.89M-10.09%-21.27%-207.30%
49
Neutral
$20.04M415.99%32.23%
47
Neutral
$109.93M-7.81%4.09%9.30%
41
Neutral
$201.85M-739.86%-6.14%-63.68%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
INTT
inTEST
7.12
0.71
11.08%
AEHR
Aehr Test Systems
26.29
12.77
94.45%
COHU
Cohu
20.00
-4.18
-17.29%
WOLF
Wolfspeed
1.24
-6.99
-84.93%
MX
MagnaChip
2.95
-1.51
-33.86%
SQNS
Sequans Communications S A
0.78
-1.82
-70.00%

inTEST Corporate Events

Executive/Board ChangesShareholder Meetings
inTEST Holds Annual Stockholders Meeting, Elects Directors
Neutral
Jun 20, 2025

On June 18, 2025, inTEST Corporation held its Annual Meeting of Stockholders where key decisions were made regarding the company’s leadership and financial oversight. The stockholders elected five director nominees to serve until the next annual meeting and ratified the appointment of RSM US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, stockholders approved the compensation of named executive officers and determined the frequency of future advisory votes on executive compensation.

Executive/Board ChangesBusiness Operations and Strategy
InTest Appoints Richard Rogoff as Division President
Positive
Jun 12, 2025

On June 12, 2025, InTest Corporation announced the appointment of Richard Rogoff as President of its Environmental Technologies Division, effective June 11, 2025. This leadership transition aligns with the company’s strategic focus on operational efficiency and performance improvement, as part of its VISION 2030 growth strategy. Rogoff, who joined InTest in 2021, previously served as Vice President of Corporate Development, where he led the company’s M&A strategy and sustainability initiatives. His appointment is expected to enhance execution and deliver value through both organic growth and targeted acquisitions, supporting InTest’s continued momentum across its core markets.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 03, 2025