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 note issued to investors on Tuesday. The firm presently has a $40.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.76% 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.”
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Teradyne from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Cowen and Company set a $41.00 price target on shares of Teradyne and gave the stock a “buy” rating in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating on shares of Teradyne in a research note on Thursday, July 27th. ValuEngine upgraded shares of Teradyne from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Teradyne in a research note on Friday, September 1st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.83.
Teradyne (TER) opened at 35.79 on Tuesday. The firm has a market capitalization of $7.08 billion, a P/E ratio of 18.47 and a beta of 0.94. Teradyne has a 52-week low of $20.22 and a 52-week high of $36.94. The firm’s 50-day moving average is $34.77 and its 200 day moving average is $33.44.
Teradyne (NYSE:TER) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 EPS for the quarter, topping the 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 firm had revenue of $697.00 million for the quarter, compared to analysts’ expectations of $683.66 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities 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 17,390 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $36.30, for a total value of $631,257.00. Following the transaction, the director now owns 154,132 shares in the company, valued at approximately $5,594,991.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brad Robbins sold 15,892 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $34.54, for a total transaction of $548,909.68. Following the completion of the transaction, the insider now owns 19,171 shares in the company, valued at approximately $662,166.34. The disclosure for this sale can be found here. In 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.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WFG Advisors LP grew its stake in Teradyne by 21.9% in the 2nd quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 700 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Teradyne in the 2nd quarter valued at about $610,000. Verition Fund Management LLC grew its stake in Teradyne by 135.2% in the 2nd quarter. Verition Fund Management LLC now owns 41,253 shares of the semiconductor company’s stock valued at $1,239,000 after buying an additional 23,716 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Teradyne by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 77,538 shares of the semiconductor company’s stock valued at $2,328,000 after buying an additional 592 shares during the last quarter. Finally, Castleark Management LLC acquired a new position in Teradyne in the 2nd quarter valued at about $12,652,000. Institutional investors and hedge funds 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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