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inTEST Corporation (INTT)
:INTT

inTEST (INTT) AI Stock Analysis

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inTEST

(NYSE MKT:INTT)

Rating:72Outperform
Price Target:
$8.50
▲(19.05%Upside)
InTest's stock score reflects strong financial fundamentals and positive technical indicators, offset by valuation concerns due to current unprofitability. The recent earnings call and corporate leadership changes are positive but highlight operational challenges and market uncertainties.
Positive Factors
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.
Stock Valuation
The stock offers an attractive risk/reward opportunity with shares trading at less than 1x 2025 revenue and the renewed buyback.
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.

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 Corporation generates revenue by designing, manufacturing, and selling specialized test and process technology solutions. The company's revenue streams are primarily derived from product sales and services related to its thermal management systems, semiconductor test solutions, and industrial process cooling equipment. Key revenue drivers include the ongoing demand for semiconductor testing and the need for advanced thermal management solutions in various industries, such as automotive and aerospace. inTEST benefits from strategic partnerships and collaborations with industry leaders to enhance its market presence and customer base, while also focusing on innovation to meet the evolving needs of its clients.

inTEST Earnings Call Summary

Earnings Call Date:May 02, 2025
(Q1-2025)
|
% Change Since: 14.79%|
Next Earnings Date:Aug 01, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong cash generation and growth in specific markets such as auto/EV and life sciences, but was overshadowed by revenue declines in key segments, engineering delays, and significant market uncertainty due to tariffs. The company's proactive measures to manage costs and debt are positive, but challenges in the external environment and operational issues create a balanced sentiment.
Q1-2025 Updates
Positive Updates
Revenue and Gross Margin Performance
InTest delivered $26.6 million in revenue with gross margins of 41.5%, generating over $5 million in cash and reducing debt by more than $3 million.
Growth in Auto/EV and Life Sciences
Sales to auto/EV increased by $2 million, life sciences increased by $1 million, and other markets grew by $1.3 million year-over-year.
Strong Cash Position
The company generated $5.5 million of cash from operations, with cash and equivalents at the end of the first quarter at $22 million, up 11% from the trailing quarter.
Orders and Backlog
First quarter orders increased 11% year-over-year with a 47% increase in industrial demand driven by a $1.5 million order from a returning customer.
Negative Updates
Revenue Decline in Key Segments
Total revenue was sequentially down $10 million, with a $6 million reduction in semi and a $1.2 million decline in the industrial market.
Engineering Delays
Engineering challenges in the Environmental Technologies division resulted in approximately $1.5 million of shipments being pushed out of the quarter.
Net Loss and Adjusted EBITDA
Net loss for the quarter was $2.3 million or a loss of $0.19 per diluted share, with adjusted EBITDA for Q1 being negative $900,000.
Tariff and Market Uncertainty
Significant uncertainty due to global trade environment and tariffs, impacting customer spending and shipment delivery schedules.
Company Guidance
During the first quarter of 2025, InTest Corporation reported $26.6 million in revenue and a gross margin of 41.5%, while generating over $5 million in cash and reducing debt by more than $3 million. Despite facing challenges such as engineering delays that pushed $1.5 million in shipments out of the quarter, the company saw a year-over-year increase in sales to the auto/EV sector by $2 million, life sciences by $1 million, and other markets by $1.3 million. However, sales in the semiconductor sector decreased by $6 million, and industrial sales dropped by $1.2 million. The company implemented cost-control measures, including tight spending restrictions and leveraging government programs, in response to market conditions. First quarter orders increased by 11% year-over-year, driven by a 47% rise in industrial demand and a 25% increase in auto/EV demand. Backlog at the end of March was $38.2 million, with $5.8 million from Alfamation. For the second quarter, revenue is expected to be between $27 million and $29 million with a gross margin of approximately 42%.

inTEST Financial Statement Overview

Summary
inTEST has shown strong revenue growth over the years, though recent profitability margins are under pressure, and debt levels have increased. The company's ability to generate cash flow remains robust, but operational efficiencies need improvement.
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
Neutral
Last Price7.14
Price Trends
50DMA
6.48
Positive
100DMA
6.91
Positive
200DMA
7.36
Negative
Market Momentum
MACD
0.26
Negative
RSI
54.83
Neutral
STOCH
56.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INTT, the sentiment is Neutral. The current price of 7.14 is above the 20-day moving average (MA) of 7.00, above the 50-day MA of 6.48, and below the 200-day MA of 7.36, indicating a neutral trend. The MACD of 0.26 indicates Negative momentum. The RSI at 54.83 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INTT.

inTEST Risk Analysis

inTEST disclosed 1 risk factors in its most recent earnings report. inTEST reported the most risks in the "Legal & Regulatory" 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 (56)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$464.43M20.1021.69%-14.48%46.79%
72
Outperform
$89.20M25.19-0.10%5.19%-101.31%
63
Neutral
$954.24M-9.87%-30.75%-3668.44%
56
Neutral
$7.08B5.28-5.20%5.56%8.18%-38.45%
MXMX
54
Neutral
$148.22M-14.88%3.59%-64.21%
54
Neutral
$36.30M378.21%39.81%
42
Neutral
$183.64M-180.49%-9.62%-30.36%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
INTT
inTEST
7.14
-3.37
-32.06%
AEHR
Aehr Test Systems
15.60
2.80
21.87%
COHU
Cohu
20.52
-13.69
-40.02%
WOLF
Wolfspeed
1.18
-23.27
-95.17%
MX
MagnaChip
4.11
-0.87
-17.47%
SQNS
Sequans Communications S A
1.43
0.04
2.88%

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.

The most recent analyst rating on (INTT) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on inTEST stock, see the INTT Stock Forecast page.

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.

The most recent analyst rating on (INTT) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on inTEST stock, see the INTT Stock Forecast page.

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: Jun 27, 2025