Zacks Investment Research cut shares of Teradyne (NYSE:TER) from a buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “The strong performance in Semiconductor Test Business in drving revenues for the company. Also, 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. On a year-to-date basis, the stock has outperformed the industry it belongs to.”

Several other brokerages have also issued reports on TER. Robert W. Baird reissued a positive rating and issued a $48.00 price target (up from $37.00) on shares of Teradyne in a research note on Friday, October 27th. Needham & Company LLC reissued a buy rating and issued a $40.00 price target on shares of Teradyne in a research note on Friday, September 1st. KeyCorp reissued a buy rating and issued a $47.00 price target on shares of Teradyne in a research note on Friday, October 27th. Susquehanna Bancshares reissued a neutral rating and issued a $41.00 price target (up from $32.00) on shares of Teradyne in a research note on Monday, September 18th. Finally, BidaskClub raised Teradyne from a hold rating to a buy rating in a research note on Thursday, August 17th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $41.25.

Teradyne (TER) opened at $40.11 on Wednesday. The company has a quick ratio of 4.67, a current ratio of 4.96 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $7,942.43, a P/E ratio of 18.41, a P/E/G ratio of 1.52 and a beta of 1.02. Teradyne has a 12 month low of $23.45 and a 12 month high of $44.63.

Teradyne (NYSE:TER) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.11. Teradyne had a return on equity of 22.39% and a net margin of 21.11%. The firm had revenue of $503.40 million for the quarter, compared to analyst estimates of $472.86 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 22.6% compared to the same quarter last year. analysts predict that Teradyne will post 2.22 EPS for the current year.

The company 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 dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. Teradyne’s dividend payout ratio is 13.08%.

In other news, Director Edwin J. Gillis sold 41,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $35.63, for a total transaction of $1,460,830.00. Following the completion of the sale, the director now owns 49,638 shares in the company, valued at $1,768,601.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark E. Jagiela sold 80,000 shares of the business’s 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 90 days, insiders have sold 213,844 shares of company stock valued at $8,705,761. Corporate insiders own 0.62% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TER. Pacer Advisors Inc. grew its holdings in Teradyne by 5.8% during the second quarter. Pacer Advisors Inc. now owns 28,627 shares of the semiconductor company’s stock worth $860,000 after buying an additional 1,559 shares in the last quarter. Cipher Capital LP grew its holdings in Teradyne by 47.5% during the second quarter. Cipher Capital LP now owns 118,758 shares of the semiconductor company’s stock worth $3,566,000 after buying an additional 38,247 shares in the last quarter. Paradigm Asset Management Co. LLC grew its holdings in Teradyne by 193.3% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,400 shares of the semiconductor company’s stock worth $132,000 after buying an additional 2,900 shares in the last quarter. State of Tennessee Treasury Department grew its holdings in Teradyne by 28.6% during the third quarter. State of Tennessee Treasury Department now owns 180,000 shares of the semiconductor company’s stock worth $6,712,000 after buying an additional 40,000 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new stake in Teradyne during the second quarter worth $3,754,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.

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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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