Teradyne (NASDAQ:TER) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Teradyne (NASDAQ:TER) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on TER. Evercore reissued an “outperform” rating and issued a $420.00 price target on shares of Teradyne in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $465.00 price objective on shares of Teradyne in a research report on Tuesday, July 28th. Morgan Stanley lifted their price objective on Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $550.00 target price on shares of Teradyne in a research note on Wednesday, July 29th. Finally, Robert W. Baird restated a “neutral” rating and set a $420.00 price target on shares of Teradyne in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Teradyne Price Performance

Shares of Teradyne stock opened at $329.20 on Friday. The company has a 50-day moving average of $364.58 and a 200 day moving average of $360.34. The firm has a market cap of $51.47 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 0.77 and a beta of 1.78. Teradyne has a 1 year low of $110.91 and a 1 year high of $487.91.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.09 by $0.38. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. Teradyne’s quarterly revenue was up 103.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Teradyne will post 9.1 EPS for the current year.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, September 4th. Teradyne’s dividend payout ratio is 7.13%.

Insider Activity

In related news, CEO Gregory Smith sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chief executive officer directly owned 112,495 shares in the company, valued at approximately $47,810,375. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in Teradyne by 46,425.7% in the 2nd quarter. California State Teachers Retirement System now owns 115,598,569 shares of the company’s stock worth $55,931,212,000 after purchasing an additional 115,350,107 shares during the period. BlackRock Inc. bought a new stake in shares of Teradyne during the second quarter valued at approximately $9,404,408,000. Van ECK Associates Corp lifted its holdings in shares of Teradyne by 5.0% in the second quarter. Van ECK Associates Corp now owns 2,607,914 shares of the company’s stock worth $1,261,813,000 after buying an additional 123,549 shares in the last quarter. ABS Investment Management LLC purchased a new position in shares of Teradyne in the second quarter worth $1,006,387,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Teradyne by 0.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,978,124 shares of the company’s stock worth $957,096,000 after acquiring an additional 12,659 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

About Teradyne

Teradyne, Inc (NASDAQ: TER) develops and supplies automated test equipment and industrial automation solutions. Its testing products are used by semiconductor, electronics, wireless, storage and other manufacturers to evaluate the performance and quality of components, devices and systems during production.

The company’s semiconductor test business provides systems for testing logic, memory, analog and mixed-signal devices, along with related handlers and software. Teradyne also offers system and product test solutions for electronic equipment and wireless devices.