Zacks Investment Research Upgrades Teradyne Inc. (TER) to “Hold”
According to Zacks, “Teradyne is a leading provider of automated test equipment. The company’s second-quarter earnings beat the Zacks Consensus Estimate. 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.”
Several other equities analysts also recently weighed in on the company. Craig Hallum raised Teradyne from a hold rating to a buy rating in a research report on Thursday, August 25th. Pacific Crest reaffirmed a hold rating on shares of Teradyne in a research report on Friday, July 29th. Credit Suisse Group AG reaffirmed a hold rating and issued a $20.50 target price on shares of Teradyne in a research report on Friday, July 29th. Deutsche Bank AG dropped their target price on Teradyne from $23.00 to $22.00 and set a buy rating for the company in a research report on Friday, July 29th. Finally, DA Davidson lifted their target price on Teradyne from $24.00 to $25.00 and gave the company a buy rating in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $22.50.
Teradyne (NYSE:TER) opened at 21.47 on Wednesday. Teradyne has a 12 month low of $17.34 and a 12 month high of $21.84. The company has a 50 day moving average of $20.98 and a 200 day moving average of $20.26. The stock’s market capitalization is $4.34 billion.
Teradyne (NYSE:TER) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm earned $532 million during the quarter, compared to the consensus estimate of $526.75 million. Teradyne had a positive return on equity of 14.84% and a negative net margin of 5.88%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, equities analysts predict that Teradyne will post $1.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 7th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, September 2nd. Teradyne’s payout ratio is -46.15%.
In other Teradyne news, Director Michael A. Bradley sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $21.39, for a total value of $320,850.00. Following the completion of the sale, the director now owns 164,721 shares in the company, valued at $3,523,382.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael A. Bradley sold 31,502 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $21.19, for a total value of $667,527.38. Following the completion of the sale, the director now owns 171,223 shares of the company’s stock, valued at approximately $3,628,215.37. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
A number of large investors have recently modified their holdings of TER. American Century Companies Inc. boosted its stake in shares of Teradyne by 31.9% in the second quarter. American Century Companies Inc. now owns 8,633,347 shares of the company’s stock worth $169,991,000 after buying an additional 2,088,082 shares in the last quarter. Norges Bank purchased a new stake in shares of Teradyne during the fourth quarter worth $41,782,000. Bank of Montreal Can purchased a new stake in shares of Teradyne during the second quarter worth $37,852,000. Emerald Acquisition Ltd. purchased a new stake in shares of Teradyne during the second quarter worth $28,044,000. Finally, Primecap Management Co. CA boosted its stake in shares of Teradyne by 93.4% in the second quarter. Primecap Management Co. CA now owns 2,338,281 shares of the company’s stock worth $46,041,000 after buying an additional 1,129,281 shares in the last quarter. Institutional investors own 91.42% of the company’s stock.
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, computing, communications and aerospace and defense industries.
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