Teradyne, Inc. (TER) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Teradyne, Inc. (NYSE:TER) in a research note released on Friday morning. Needham & Company LLC currently has a $40.00 target price on the semiconductor company’s stock.
TER has been the topic of a number of other reports. BidaskClub raised Teradyne from a sell rating to a hold rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Teradyne from a hold rating to a buy rating and set a $39.00 price objective on the stock in a research note on Friday, August 25th. KeyCorp raised Teradyne from a sector weight rating to an overweight rating and set a $40.00 price objective on the stock in a research note on Thursday, July 27th. Finally, Stifel Nicolaus raised Teradyne from a hold rating to a buy rating and raised their price objective for the company from $32.00 to $39.00 in a research note on Wednesday, July 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Teradyne currently has an average rating of Buy and a consensus price target of $35.70.
Teradyne (TER) opened at 35.79 on Friday. The firm has a 50-day moving average price of $34.52 and a 200-day moving average price of $32.84. Teradyne has a 1-year low of $20.07 and a 1-year high of $36.86. The company has a market capitalization of $7.08 billion, a P/E ratio of 18.47 and a beta of 0.94.
Teradyne (NYSE:TER) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. Teradyne had a return on equity of 21.25% and a net margin of 20.08%. The business had revenue of $697 million for the quarter, compared to the consensus estimate of $683.66 million. During the same quarter last year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, analysts forecast that Teradyne will post $1.97 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 annualized dividend and a dividend yield of 0.78%. Teradyne’s payout ratio is presently 14.51%.
In related news, insider Brad Robbins sold 15,892 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $34.54, for a total value of $548,909.68. Following the sale, the insider now directly owns 19,171 shares of the company’s stock, valued at $662,166.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark E. Jagiela sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 248,413 shares in the company, valued at $8,570,248.50. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TER. Creative Planning grew its stake in shares of Teradyne by 76.2% in the first quarter. Creative Planning now owns 4,778 shares of the semiconductor company’s stock worth $149,000 after purchasing an additional 2,067 shares during the last quarter. Capstone Asset Management Co. grew its stake in shares of Teradyne by 3.6% in the first quarter. Capstone Asset Management Co. now owns 15,623 shares of the semiconductor company’s stock worth $486,000 after purchasing an additional 540 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Teradyne in the first quarter worth about $621,000. IFP Advisors Inc grew its stake in shares of Teradyne by 305.2% in the first quarter. IFP Advisors Inc now owns 4,595 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Teradyne by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 71,028 shares of the semiconductor company’s stock worth $2,209,000 after purchasing an additional 1,000 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.
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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