Zacks Investment Research Upgrades Teradyne, Inc. (TER) to Buy
Teradyne, Inc. (NYSE:TER) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $40.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.53% from the company’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 analysts also recently weighed in on the stock. BidaskClub downgraded shares of Teradyne from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. ValuEngine raised shares of Teradyne from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. KeyCorp reissued a “buy” rating and set a $40.00 target price on shares of Teradyne in a research report on Tuesday, September 5th. Stifel Nicolaus raised shares of Teradyne from a “hold” rating to a “buy” rating and increased their target price for the company from $32.00 to $39.00 in a research report on Wednesday, July 5th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued a “neutral” rating on shares of Teradyne in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $36.83.
Teradyne (NYSE TER) traded up 1.60% on Tuesday, reaching $36.19. 2,922,568 shares of the company traded hands. The stock has a market capitalization of $7.16 billion, a PE ratio of 18.67 and a beta of 0.94. Teradyne has a one year low of $20.22 and a one year high of $36.94. The firm has a 50 day moving average of $34.73 and a 200-day moving average of $33.39.
Teradyne (NYSE:TER) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $697.00 million during the quarter, compared to the consensus estimate of $683.66 million. Teradyne had a net margin of 20.08% and a return on equity of 21.25%. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, analysts anticipate that Teradyne will post $1.97 EPS for the current year.
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In related news, Director Michael A. Bradley sold 22,168 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $35.64, for a total value of $790,067.52. Following the transaction, the director now directly owns 194,938 shares in the company, valued at approximately $6,947,590.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark E. Jagiela sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 248,413 shares in the company, valued at $8,570,248.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,698 shares of company stock worth $5,012,857. 0.62% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. WFG Advisors LP lifted its holdings in shares of Teradyne by 21.9% in the 2nd quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 700 shares in the last quarter. Segantii Capital Management Ltd bought a new position in shares of Teradyne in the 1st quarter worth $121,000. Paradigm Asset Management Co. LLC lifted its holdings in shares of Teradyne by 193.3% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,400 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 2,900 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Teradyne by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 4,806 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 211 shares in the last quarter. Finally, Fiduciary Trust Co. bought a new position in shares of Teradyne in the 2nd quarter worth $147,000. Institutional investors own 93.10% 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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