Teradyne drops after weak quarterly forecast

Shares of chip testing equipment maker Teradyne TER.O drop 7.4% to $351.97 premarket

Co sees Q2 rev of $1.15 bln - $1.25 bln, the midpoint, which is lower than its Q1 revenue of $1.28 bln

Guides Q2 EPS of $1.86-$2.15, lower than Q1 profit of $2.56

12 of 19 analysts covering the stock rate it "Buy" or higher, six going for "Hold", and one "Sell"; median PT is $328.5

Stock recently trades at over 51 times its 12-month forward earnings, well above its 5-yr average of 27, according to LSEG data

Shares hit a record high last week, but have fallen 9.1% from their highs since then

As of last close, TER shares up more than 96% YTD compared to a 41.6% rise in the Philadelphia SE Semiconductor index .SOX