Teradyne (TER) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Teradyne (NYSE:TER) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $48.00 price target on the semiconductor company’s stock.
According to Zacks, “The strong performance in Semiconductor Test Business in drving revenues for the company. The company delivered decent third-quarter results driven by strong performance in Semiconductor Test Business and greater-than-expected image sensor Test system shipments. 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, volatility in the test market could be a concern in the near term. n a year-to-date basis, the stock has outperformed the industry it belongs to.”
Several other equities analysts have also recently weighed in on TER. BidaskClub cut shares of Teradyne from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Deutsche Bank cut shares of Teradyne from a buy rating to a hold rating and set a $44.00 price target for the company. in a research note on Monday, November 20th. Robert W. Baird reaffirmed a positive rating and set a $48.00 price target (up from $37.00) on shares of Teradyne in a research note on Friday, October 27th. Citigroup reaffirmed a buy rating and set a $43.00 price target on shares of Teradyne in a research note on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of Teradyne in a research note on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $41.25.
Teradyne (NYSE TER) opened at $40.11 on Tuesday. The firm has a market cap of $7,942.43, a P/E ratio of 18.41, a PEG ratio of 1.52 and a beta of 1.02. Teradyne has a 52 week low of $23.45 and a 52 week high of $44.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.67 and a current ratio of 4.96.
Teradyne (NYSE:TER) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.11. The company had revenue of $503.40 million during the quarter, compared to analysts’ expectations of $472.86 million. Teradyne had a net margin of 21.11% and a return on equity of 22.39%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. equities research analysts predict that Teradyne will post 2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, November 29th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 28th. Teradyne’s payout ratio is presently 13.08%.
In other news, Director Edwin J. Gillis sold 41,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $35.63, for a total value of $1,460,830.00. Following the completion of the sale, the director now owns 49,638 shares of the company’s stock, valued at approximately $1,768,601.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark E. Jagiela sold 80,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $43.55, for a total value of $3,484,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 213,844 shares of company stock valued at $8,705,761. 0.62% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Teradyne by 238.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,877,810 shares of the semiconductor company’s stock valued at $116,451,000 after purchasing an additional 2,731,167 shares during the last quarter. BlackRock Inc. lifted its holdings in Teradyne by 13.3% during the 2nd quarter. BlackRock Inc. now owns 20,807,353 shares of the semiconductor company’s stock valued at $624,846,000 after purchasing an additional 2,437,869 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Teradyne by 71.0% during the 2nd quarter. Wells Fargo & Company MN now owns 4,293,075 shares of the semiconductor company’s stock valued at $128,922,000 after purchasing an additional 1,781,854 shares during the last quarter. Coatue Management LLC acquired a new stake in Teradyne during the 2nd quarter valued at $39,545,000. Finally, Argent Capital Management LLC acquired a new stake in Teradyne during the 3rd quarter valued at $47,393,000. 96.75% of the stock is owned by institutional investors.
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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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