Teradyne, Inc. (NYSE:TER) Rating Lowered to Sell at BidaskClub
Teradyne, Inc. (NYSE:TER) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday, July 6th.
Several other research firms have also issued reports on TER. Deutsche Bank AG upped their target price on shares of Teradyne from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. ValuEngine upgraded shares of Teradyne from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Needham & Company LLC increased their price target on shares of Teradyne from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Stifel Nicolaus raised shares of Teradyne from a “hold” rating to a “buy” rating and upped their price objective for the company from $32.00 to $39.00 in a report on Wednesday, July 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Teradyne from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, June 28th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Teradyne presently has a consensus rating of “Buy” and an average target price of $31.71.
Shares of Teradyne (TER) traded up 2.44% during mid-day trading on Thursday, hitting $33.97. The stock had a trading volume of 3,499,693 shares. The stock’s market cap is $6.76 billion. Teradyne has a 52 week low of $19.43 and a 52 week high of $36.59. The stock has a 50-day moving average price of $33.97 and a 200 day moving average price of $30.58.
Teradyne (NYSE:TER) last announced its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06. The business had revenue of $457 million during the quarter, compared to analyst estimates of $440.96 million. Teradyne had a negative net margin of 0.46% and a positive return on equity of 18.34%. Teradyne’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities analysts forecast that Teradyne will post $1.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Thursday, June 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.82%. Teradyne’s dividend payout ratio is presently -699.83%.
In other Teradyne news, Director Daniel W. Christman sold 3,232 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $35.65, for a total value of $115,220.80. Following the completion of the sale, the director now directly owns 30,163 shares in the company, valued at $1,075,310.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael A. Bradley sold 9,235 shares of the stock in a transaction dated 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 sale, 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 three months, insiders sold 20,467 shares of company stock worth $721,961. 0.62% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of TER. BlackRock Inc. raised its stake in shares of Teradyne by 11,980.5% in the first quarter. BlackRock Inc. now owns 18,369,484 shares of the semiconductor company’s stock valued at $571,292,000 after buying an additional 18,217,425 shares during the last quarter. Norges Bank purchased a new position in Teradyne during the fourth quarter valued at $56,840,000. Capital Growth Management LP purchased a new position in Teradyne during the first quarter valued at $55,047,000. Wells Fargo & Company MN increased its position in Teradyne by 219.4% in the first quarter. Wells Fargo & Company MN now owns 2,511,221 shares of the semiconductor company’s stock valued at $78,099,000 after buying an additional 1,724,980 shares during the period. Finally, Acadian Asset Management LLC increased its position in Teradyne by 588.8% in the first quarter. Acadian Asset Management LLC now owns 1,155,622 shares of the semiconductor company’s stock valued at $35,941,000 after buying an additional 987,841 shares during the period. 93.52% of the stock is currently owned by institutional investors.
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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