Cowen and Company Lowers Teradyne Price Target to $22.00 (TER)
Equities research analysts at Cowen and Company decreased their target price on shares of Teradyne (NYSE:TER) from $24.00 to $22.00 in a research note issued to investors on Monday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 36.73% from the stock’s previous close.
Shares of Teradyne (NYSE:TER) traded down 0.28% on Monday, hitting $16.045. 1,248,980 shares of the company’s stock traded hands. Teradyne has a 52 week low of $13.40 and a 52 week high of $18.73. The stock has a 50-day moving average of $16.04 and a 200-day moving average of $16.56. The company has a market cap of $3.072 billion and a P/E ratio of 25.95.
Teradyne (NYSE:TER) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.11. The company had revenue of $428.89 million for the quarter, compared to the consensus estimate of $407.39 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was down 21.8% on a year-over-year basis.
TER has been the subject of a number of other recent research reports. Analysts at UBS AG cut their price target on shares of Teradyne to $20.00 in a research note to investors on Friday, July 26th. Separately, analysts at Credit Suisse initiated coverage on shares of Teradyne in a research note to investors on Friday, July 26th. They set an “outperform” rating on the stock. Finally, analysts at Pacific Crest downgraded shares of Teradyne from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, July 26th. They now have a $21.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $20.82.
Teradyne, Inc is a supplier of automatic test equipment. The Company designs, develops, manufactures and sells automatic test systems and solutions used to test semiconductors, wireless products, hard disk drives and circuit boards in the consumer electronics, wireless, automotive, industrial, computing, communications and aerospace and defense industries.
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