Zacks Reaffirms “Neutral” Rating for Teradyne (TER)
Teradyne (NYSE:TER)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Wednesday. They currently have a $22.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 6.95% from the company’s current price.
Zacks’ analyst wrote, “Teradyne is a leading provider of automated test equipment. The company’s second-quarter earnings beat the Zacks Consensus Estimate on higher volumes although forward guidance was disappointing. Improving orders and backlog were however encouraging. 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, product lineup, lean cost structure and strong balance sheet are positives. However, excess capacity and pricing pressure could remain near-term headwinds. We are therefore reiterating our Neutral rating on TER shares.”
In other Teradyne news, Director Michael A. Bradley sold 39,024 shares of Teradyne stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $20.52, for a total transaction of $800,772.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Teradyne (NYSE:TER) traded up 0.22% during mid-day trading on Wednesday, hitting $20.555. The stock had a trading volume of 640,590 shares. Teradyne has a one year low of $15.30 and a one year high of $20.81. The stock’s 50-day moving average is $19.28 and its 200-day moving average is $19.1. The company has a market cap of $4.207 billion and a P/E ratio of 24.47. Teradyne also was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 19,363,705 shares, a decrease of 16.9% from the July 31st total of 23,314,289 shares. Currently, 10.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,296,458 shares, the days-to-cover 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. On average, analysts predict that Teradyne will post $1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, September 3rd.
A number of other analysts have also recently weighed in on TER. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Teradyne in a research note on Tuesday. They now have a $23.50 price target on the stock, up previously from $22.00. Separately, 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. 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 assigned 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 a consensus target price of $22.36.
Teradyne, Inc (NYSE:TER) is a supplier of automatic test equipment.
To view Zacks’ full report, visit Zacks’ official website.
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