Teradyne, Inc. (TER) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Teradyne, Inc. (NYSE:TER) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $40.00 price objective on the semiconductor company’s stock.
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.”
Several other equities analysts also recently commented on TER. ValuEngine upgraded Teradyne from a hold rating to a buy rating in a research report on Friday, June 2nd. BidaskClub downgraded Teradyne from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. Stifel Nicolaus upgraded Teradyne from a hold rating to a buy rating and raised their price objective for the stock from $32.00 to $39.00 in a research report on Wednesday, July 5th. They noted that the move was a valuation call. KeyCorp upgraded Teradyne from a sector weight rating to an overweight rating and set a $40.00 price objective for the company in a research report on Thursday, July 27th. Finally, Credit Suisse Group restated 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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $36.83.
Teradyne (NYSE:TER) opened at 36.19 on Tuesday. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 18.67 and a beta of 0.94. Teradyne has a 12 month low of $20.22 and a 12 month high of $36.94. The company’s 50-day moving average is $34.77 and its 200 day moving average is $33.44.
Teradyne (NYSE:TER) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. The firm had revenue of $697.00 million during the quarter, compared to the consensus estimate of $683.66 million. Teradyne had a return on equity of 21.25% and a net margin of 20.08%. The business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. On average, equities research analysts predict that Teradyne will post $1.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. Teradyne’s dividend payout ratio (DPR) is presently 14.51%.
In other Teradyne news, Director Michael A. Bradley sold 17,390 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $36.30, for a total value of $631,257.00. Following the completion of the sale, the director now owns 154,132 shares of the company’s stock, valued at $5,594,991.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Bradley sold 15,248 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $35.86, for a total value of $546,793.28. Following the completion of the sale, the director now directly owns 172,322 shares of the company’s stock, valued at approximately $6,179,466.92. The disclosure for this sale can be found here. Insiders sold 141,698 shares of company stock valued at $5,012,857 in the last three months. Insiders own 0.62% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. WFG Advisors LP grew its stake in Teradyne by 21.9% in the second quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 700 shares during the period. Segantii Capital Management Ltd purchased a new position in shares of Teradyne during the first quarter valued at approximately $121,000. Paradigm Asset Management Co. LLC boosted its position in shares of Teradyne by 193.3% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,400 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 2,900 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Teradyne by 4.6% during the second quarter. IFP Advisors Inc now owns 4,806 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 211 shares during the last quarter. Finally, Fiduciary Trust Co. purchased a new position in shares of Teradyne during the second quarter valued at approximately $147,000. 93.10% of the stock is owned by hedge funds and other institutional investors.
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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