Teradyne, Inc. (TER) Given New $48.00 Price Target at Citigroup Inc.
Teradyne, Inc. (NYSE:TER) had its price target boosted by Citigroup Inc. from $43.00 to $48.00 in a research report released on Monday. Citigroup Inc. currently has a buy rating on the semiconductor company’s stock.
Several other research firms also recently weighed in on TER. Zacks Investment Research downgraded Teradyne from a buy rating to a hold rating in a research note on Thursday, August 24th. Robert W. Baird restated a positive rating and issued a $48.00 price target (up from $37.00) on shares of Teradyne in a research note on Friday. Cowen and Company set a $41.00 price target on Teradyne and gave the stock a buy rating in a research note on Friday, July 28th. Needham & Company LLC restated a buy rating and issued a $40.00 price target on shares of Teradyne in a research note on Friday, September 1st. Finally, BidaskClub upgraded Teradyne from a hold rating to a buy rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $40.17.
Teradyne (NYSE:TER) traded up 0.47% during trading on Monday, hitting $42.89. 3,092,051 shares of the stock were exchanged. Teradyne has a 1-year low of $22.68 and a 1-year high of $43.64. The company has a 50-day moving average price of $37.89 and a 200 day moving average price of $35.05. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 22.13 and a beta of 0.98.
Teradyne (NYSE:TER) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.11. The company had revenue of $503.40 million during the quarter, compared to analyst estimates of $472.86 million. Teradyne had a net margin of 21.11% and a return on equity of 22.39%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. Equities analysts predict that Teradyne will post $2.18 earnings per share for the current fiscal year.
In related news, insider Brad Robbins sold 12,045 shares of Teradyne stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $42.19, for a total transaction of $508,178.55. Following the completion of the sale, the insider now owns 7,126 shares of the company’s stock, valued at $300,645.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edwin J. Gillis sold 41,000 shares of Teradyne stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $35.63, for a total value of $1,460,830.00. Following the sale, the director now directly owns 49,638 shares of the company’s stock, valued at approximately $1,768,601.94. The disclosure for this sale can be found here. In the last three months, insiders sold 116,012 shares of company stock valued at $4,281,929. Corporate insiders own 0.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TER. OppenheimerFunds Inc. raised its position in Teradyne by 9.3% during the first quarter. OppenheimerFunds Inc. now owns 14,182 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 1,210 shares in the last quarter. Wellington Management Group LLP raised its position in Teradyne by 18.1% during the first quarter. Wellington Management Group LLP now owns 287,202 shares of the semiconductor company’s stock valued at $8,932,000 after acquiring an additional 44,032 shares in the last quarter. Teachers Advisors LLC raised its position in Teradyne by 36.4% during the first quarter. Teachers Advisors LLC now owns 380,846 shares of the semiconductor company’s stock valued at $11,844,000 after acquiring an additional 101,600 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Teradyne by 6.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,207 shares of the semiconductor company’s stock valued at $224,000 after acquiring an additional 454 shares in the last quarter. Finally, Morgan Stanley raised its position in Teradyne by 40.0% during the first quarter. Morgan Stanley now owns 1,075,066 shares of the semiconductor company’s stock valued at $33,435,000 after acquiring an additional 307,326 shares in the last quarter. Institutional investors own 92.24% of the company’s stock.
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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