Teradyne, Inc. (NYSE:TER) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, October 27th. The brokerage currently has a $45.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price points to a potential upside of 2.97% from the stock’s previous close.
According to Zacks, “Teradyne is a leading provider of automated test equipment. On a year-to-date basis, the stock has outperformed the industry it belongs to. Also, Teradyne delivered strong third-quarter results driven by strong performance in Semiconductor Test Business and greater-than-expected image sensor Test system shipments. A recovery in the core semiconductor business (processors, MCUs and power management), long-term opportunities in the high-growth wireless test market, growing memory market exposure, strong product lineup, lean cost structure and strong balance sheet are positives. Given the popularity of its products, the Universal Robots acquisition and the continuous design win momentum; the company is optimistic long-term prospects. However, volatility in the test market could be a concern in the near term.”
TER has been the subject of several other reports. Credit Suisse Group reaffirmed a “neutral” rating on shares of Teradyne in a report on Thursday, July 27th. Citigroup Inc. reaffirmed a “buy” rating and set a $43.00 target price on shares of Teradyne in a report on Tuesday, September 19th. KeyCorp reaffirmed a “buy” rating and set a $47.00 target price on shares of Teradyne in a report on Friday, October 27th. BidaskClub lowered Teradyne from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Teradyne in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.17.
Shares of Teradyne (TER) traded up $0.06 during midday trading on Friday, reaching $43.70. The company’s stock had a trading volume of 1,499,200 shares, compared to its average volume of 2,464,581. Teradyne has a 12-month low of $23.26 and a 12-month high of $44.04. The firm has a market capitalization of $8,560.32, a PE ratio of 19.84, a P/E/G ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.96 and a quick ratio of 4.67.
Teradyne (NYSE:TER) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.11. The firm had revenue of $503.40 million for the quarter, compared to analysts’ expectations of $472.86 million. Teradyne had a return on equity of 22.39% and a net margin of 21.11%. Teradyne’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. research analysts anticipate that Teradyne will post 2.22 EPS for the current fiscal year.
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In other news, Director Michael A. Bradley sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $42.85, for a total transaction of $428,500.00. Following the completion of the sale, the director now owns 134,132 shares in the company, valued at approximately $5,747,556.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Bradley sold 22,168 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.64, for a total value of $790,067.52. Following the sale, the director now owns 194,938 shares of the company’s stock, valued at approximately $6,947,590.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,012 shares of company stock valued at $5,138,429. 0.62% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Teradyne by 5.8% in the second quarter. Pacer Advisors Inc. now owns 28,627 shares of the semiconductor company’s stock valued at $860,000 after purchasing an additional 1,559 shares in the last quarter. Cipher Capital LP lifted its holdings in shares of Teradyne by 47.5% in the second quarter. Cipher Capital LP now owns 118,758 shares of the semiconductor company’s stock valued at $3,566,000 after purchasing an additional 38,247 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its holdings in shares of Teradyne by 193.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,400 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 2,900 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Teradyne in the second quarter valued at $3,754,000. Finally, Westpac Banking Corp purchased a new stake in shares of Teradyne in the second quarter valued at $5,465,000. Institutional investors own 92.74% of the company’s stock.
Teradyne Company Profile
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.
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