Teradyne Rating Reiterated by Citigroup Inc. (TER)
Teradyne (NYSE:TER)‘s stock had its “buy” rating restated by stock analysts at Citigroup Inc. in a report issued on Tuesday. They currently have a $23.50 price target on the stock, up from their previous price target of $22.00. Citigroup Inc.’s price target would indicate a potential upside of 14.13% from the company’s current price.
Teradyne (NYSE:TER) traded down 0.09% on Tuesday, hitting $20.571. 529,546 shares of the company’s stock traded hands. Teradyne has a 1-year low of $15.28 and a 1-year high of $20.72. The stock has a 50-day moving average of $19.29 and a 200-day moving average of $19.14. The company has a market cap of $4.210 billion and a price-to-earnings ratio of 24.57. Teradyne also saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 19,363,705 shares, a drop of 16.9% from the July 31st total of 23,314,289 shares. Currently, 10.0% of the shares of the company are sold short. Based on an average daily volume of 2,296,458 shares, the short-interest ratio is presently 8.4 days.
Teradyne (NYSE:TER) last announced its earnings results on Wednesday, July 23rd. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.12. The company had revenue of $525.60 million for the quarter, compared to the consensus estimate of $479.51 million. During the same quarter last year, the company posted $0.43 earnings per share. Teradyne’s revenue was up 22.5% compared to the same quarter last year. Analysts expect that Teradyne will post $1.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Wednesday, September 3rd.
A number of other firms have also recently commented on TER. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Teradyne in a research note on Friday, July 25th. They now have a $19.50 price target on the stock, up previously from $19.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Teradyne in a research note on Thursday, July 24th. They now have a $20.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of Teradyne from $23.00 to $24.00 in a research note on Friday, June 27th. They now have a “positive” rating on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.18.
In other Teradyne news, Director Michael A. Bradley unloaded 150,367 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $20.09, for a total transaction of $3,020,873.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Teradyne, Inc (NYSE:TER) is a supplier of automatic test equipment.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.