Teradyne, Inc. (TER) Raised 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 report report published on Friday. The brokerage currently has $39.00 target price 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 Zacks Electronics – Testing Equipment industry. 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.”
A number of other equities research analysts have also recently issued reports on the company. BidaskClub cut Teradyne from a hold rating to a sell rating in a research report on Thursday, July 6th. ValuEngine raised Teradyne from a hold rating to a buy rating in a research report on Friday, June 2nd. Needham & Company LLC upped their target price on Teradyne from $32.00 to $40.00 and gave the stock a buy rating in a research report on Friday, April 28th. Stifel Nicolaus raised Teradyne from a hold rating to a buy rating and upped their target price 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. Finally, Credit Suisse Group reaffirmed a neutral rating on shares of Teradyne in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Teradyne currently has a consensus rating of Buy and a consensus price target of $35.70.
Shares of Teradyne (NYSE:TER) opened at 34.53 on Friday. Teradyne has a 52 week low of $20.07 and a 52 week high of $36.86. The company’s 50-day moving average is $34.12 and its 200 day moving average is $32.61. The stock has a market capitalization of $6.83 billion, a P/E ratio of 17.82 and a beta of 0.95.
Teradyne (NYSE:TER) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $697 million during the quarter, compared to analysts’ expectations of $683.66 million. Teradyne had a return on equity of 21.25% and a net margin of 20.08%. The company’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities analysts forecast that Teradyne will post $1.97 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. Teradyne’s dividend payout ratio (DPR) is presently 14.51%.
In related news, insider Mark E. Jagiela sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 248,413 shares in the company, valued at $8,570,248.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Bradley sold 9,235 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $35.32, for a total value of $326,180.20. Following the completion of the transaction, the director now owns 195,405 shares of the company’s stock, valued at $6,901,704.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,127 shares of company stock valued at $1,910,090. Corporate insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Segantii Capital Management Ltd purchased a new position in shares of Teradyne during the first quarter worth approximately $121,000. WFG Advisors LP raised its position in shares of Teradyne by 21.9% in the second quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock worth $117,000 after buying an additional 700 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Teradyne during the first quarter worth approximately $132,000. Paradigm Asset Management Co. LLC raised its position in shares of Teradyne by 193.3% in 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 during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in shares of Teradyne during the first quarter worth approximately $141,000. Institutional investors and hedge funds own 93.21% 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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