Teradyne, Inc. (TER) Stock Rating Upgraded by Zacks Investment Research
Teradyne, Inc. (NYSE:TER) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $40.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.03% 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’s second quarter results surpassed the Zacks Consensus Estimate on earnings and revenue. 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, weakness in the wireless test market could be a concern in the near term.”
A number of other brokerages have also weighed in on TER. KeyCorp upgraded Teradyne from a “sector weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Thursday, July 27th. BidaskClub upgraded Teradyne from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Teradyne in a research report on Friday, September 1st. ValuEngine upgraded Teradyne from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Cowen and Company set a $41.00 price objective on Teradyne and gave the stock a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Teradyne currently has an average rating of “Buy” and a consensus price target of $35.80.
Shares of Teradyne (NYSE TER) traded down 1.60% during trading on Friday, hitting $35.08. The stock had a trading volume of 1,704,942 shares. Teradyne has a one year low of $20.07 and a one year high of $36.86. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.10 and a beta of 0.94. The stock has a 50 day moving average price of $34.62 and a 200-day moving average price of $33.03.
Teradyne (NYSE:TER) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $697 million for the quarter, compared to analyst estimates of $683.66 million. Teradyne had a return on equity of 21.25% and a net margin of 20.08%. Teradyne’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, equities research analysts predict that Teradyne will post $1.97 earnings per share for the current year.
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In other Teradyne news, insider Brad Robbins sold 15,892 shares of Teradyne stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $34.54, for a total transaction of $548,909.68. Following the transaction, the insider now directly owns 19,171 shares of the company’s stock, valued at approximately $662,166.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark E. Jagiela sold 30,000 shares of Teradyne stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total value of $1,035,000.00. Following the transaction, the insider now directly owns 248,413 shares in the company, valued at $8,570,248.50. The disclosure for this sale can be found here. Insiders have sold a total of 109,060 shares of company stock worth $3,834,807 over the last ninety days. Company insiders own 0.62% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in shares of Teradyne in the 1st quarter valued at about $621,000. IFP Advisors Inc lifted its stake in shares of Teradyne by 305.2% in the 1st quarter. IFP Advisors Inc now owns 4,595 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 3,461 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Teradyne by 3.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 119,942 shares of the semiconductor company’s stock valued at $3,728,000 after purchasing an additional 4,271 shares during the period. State Treasurer State of Michigan lifted its stake in shares of Teradyne by 0.5% in the 1st quarter. State Treasurer State of Michigan now owns 81,400 shares of the semiconductor company’s stock valued at $2,532,000 after purchasing an additional 400 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in shares of Teradyne in the 1st quarter valued at about $552,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
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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