Management Insights: CEO John Kibarian highlighted strong Q3 bookings and significant contract extensions, including an 8-figure deal with a major IC manufacturer and the integration of Tiber AI Studio into Exensio for enhanced AI model management.
Financial Performance: PDF Solutions reported record quarterly revenue of $57.1 million, a 10% increase from the previous quarter, with analytics revenue also rising significantly. The company ended Q3 with a backlog of $292 million, reflecting strong business momentum.
Outlook and Guidance: Management reaffirmed its annual revenue growth target of 21% to 23% for 2025, citing strong customer opportunities and backlog growth, with plans to share long-term targets at an upcoming Analyst Day.
Risks and Future Growth: Concerns were raised about geographic diversification impacting production costs, but management emphasized AI-driven collaboration as a solution. Analysts expressed confidence in the company's growth potential, particularly regarding new product integrations and customer expansion.
Wall Street analysts forecast PDFS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PDFS is 34.75 USD with a low forecast of 33.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
Wall Street analysts forecast PDFS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PDFS is 34.75 USD with a low forecast of 33.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 33.980
Low
33.00
Averages
34.75
High
36.00
Current: 33.980
Low
33.00
Averages
34.75
High
36.00
DA Davidson
Buy
maintain
$34 -> $36
2025-12-05
Reason
DA Davidson
Price Target
$34 -> $36
AI Analysis
2025-12-05
maintain
Buy
Reason
DA Davidson raised the firm's price target on PDF Solutions to $36 from $34 and keeps a Buy rating on the shares. The company's User Conference and first analyst day since 2023 featured positive revisions to its long-term financial targets and an updated view onPDF Solutions' growth drivers and expanding addressable market, which is expected to double by 2030, the analyst tells investors in a research note. The firm adds it was encouraged by the management's underwriting of 20% Y/Y revenue growth going forward.
Rosenblatt
NULL -> Buy
maintain
$33 -> $34
2025-11-07
Reason
Rosenblatt
Price Target
$33 -> $34
2025-11-07
maintain
NULL -> Buy
Reason
Rosenblatt raised the firm's price target on PDF Solutions to $34 from $33 and keeps a Buy rating on the shares. The company's backlog jumped in Q3 due to the securing of large contracts, the analyst tells investors in a research note.
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DA Davidson
Neutral -> Buy
upgrade
$24 -> $34
2025-11-07
Reason
DA Davidson
Price Target
$24 -> $34
2025-11-07
upgrade
Neutral -> Buy
Reason
DA Davidson upgraded PDF Solutions to Buy from Neutral with a price target of $34, up from $24, citing an acceleration in backlog growth and "increased conviction" that 2026 estimates can go higher. The firm sees PDF as well positioned to monetize future growth of the semiconductor market, the analyst tells investors.
DA Davidson
Neutral
maintain
$24
2025-09-23
Reason
DA Davidson
Price Target
$24
2025-09-23
maintain
Neutral
Reason
DA Davidson keeps a Neutral rating and $24 price target on PDF Solutions after the stock's double-digit gains afterhours on the announcement of a landmark multiyear contract signed by an existing global IDM customer. The announcement was a positive indicator that PDF is well positioned to monetize a cyclical upturn in semiconductor spending by improving design and manufacturing processes, the analyst tells investors in a research note.
About PDFS
PDF Solutions, Inc. is a provider of comprehensive data solutions for the semiconductor ecosystem. The Company offers products and services designed to help organizations across the semiconductor and electronics ecosystems to connect, collect, manage, and analyze data about design, equipment, manufacturing, and test to improve the yield and quality of their products. Its offerings combine proprietary software, professional services and third-party cloud-hosting platforms for software-as-a-service, electrical measurement hardware tools and physical intellectual property for integrated circuit designs. The Company's products, services and solutions have been sold to integrated device manufacturers, fabless semiconductor companies, foundries, capital equipment manufacturers and system houses. The primary software products and software and hardware systems of its platform include Exensio Software, Design-for-Inspection System, Characterization Vehicle System and Cimetrix Software Products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
