Teradyne, Inc. (NYSE:TER) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Teradyne, Inc. (NYSE:TER) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Teradyne is a leading provider of automated test equipment. Over the last one year, the stock has outperformed the Zacks Electronics – Testing Equipment industry. Also, Teradyne’s first 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.”
TER has been the topic of a number of other reports. Needham & Company LLC boosted their price objective on shares of Teradyne from $32.00 to $40.00 and gave the company a buy rating in a research report on Friday, April 28th. Robert W. Baird initiated coverage on shares of Teradyne in a research report on Monday, April 3rd. They set an outperform rating and a $37.00 price objective on the stock. BidaskClub raised shares of Teradyne from a buy rating to a strong-buy rating in a research report on Tuesday, July 25th. Stifel Nicolaus boosted their price objective on shares of Teradyne from $27.00 to $30.00 and gave the company a hold rating in a research report on Tuesday, April 25th. Finally, Cowen and Company boosted their price objective on shares of Teradyne from $35.00 to $41.00 and gave the company an outperform rating in a research report on Thursday, April 27th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Teradyne presently has a consensus rating of Buy and a consensus price target of $35.40.
Shares of Teradyne (NYSE:TER) traded up 0.276% during mid-day trading on Thursday, reaching $34.575. 2,000,292 shares of the company were exchanged. The company’s 50 day moving average price is $32.96 and its 200 day moving average price is $31.67. Teradyne has a 12 month low of $19.43 and a 12 month high of $36.86. The firm has a market capitalization of $6.87 billion, a PE ratio of 17.841 and a beta of 0.93.
Teradyne (NYSE:TER) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. Teradyne had a net margin of 20.08% and a return on equity of 21.25%. The business had revenue of $697 million for the quarter, compared to analyst estimates of $683.66 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue was up 31.1% compared to the same quarter last year. Equities analysts anticipate that Teradyne will post $1.94 earnings per share for the current year.
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In other news, Director Mercedes Johnson sold 8,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $35.07, for a total value of $280,560.00. Following the completion of the transaction, the director now owns 14,773 shares in the company, valued at approximately $518,089.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel W. Christman sold 3,232 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $35.65, for a total transaction of $115,220.80. Following the completion of the transaction, the director now owns 30,163 shares of the company’s stock, valued at approximately $1,075,310.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,467 shares of company stock valued at $721,961. Corporate insiders own 0.62% of the company’s stock.
Several institutional investors have recently made changes to their positions in TER. Gilman Hill Asset Management LLC boosted its position in shares of Teradyne by 17.1% in the first quarter. Gilman Hill Asset Management LLC now owns 11,020 shares of the semiconductor company’s stock worth $343,000 after buying an additional 1,610 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Teradyne by 16.2% in the first quarter. Nationwide Fund Advisors now owns 707,660 shares of the semiconductor company’s stock worth $22,008,000 after buying an additional 98,422 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of Teradyne during the first quarter worth about $156,000. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Teradyne by 2.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 671,107 shares of the semiconductor company’s stock worth $20,871,000 after buying an additional 15,843 shares in the last quarter. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of Teradyne during the first quarter worth about $276,000. Institutional investors own 93.56% 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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