Teradyne (TER) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Teradyne (NYSE:TER) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning. The brokerage currently has $49.00 price objective on the semiconductor company’s stock.
According to Zacks, “The strong performance in Semiconductor Test Business in drving revenues for the company. Also, 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, volatility in the test market could be a concern in the near term. On a year-to-date basis, the stock has outperformed the industry it belongs to.”
TER has been the subject of a number of other research reports. Citigroup upped their target price on Teradyne from $43.00 to $48.00 and gave the stock a buy rating in a report on Monday, October 30th. Goldman Sachs Group raised Teradyne from a neutral rating to a buy rating in a report on Tuesday, December 12th. KeyCorp reaffirmed a buy rating and issued a $47.00 target price on shares of Teradyne in a report on Friday, October 27th. ValuEngine cut Teradyne from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Deutsche Bank cut Teradyne from a buy rating to a hold rating and set a $44.00 target price for the company. in a report on Monday, November 20th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $42.55.
Teradyne (NYSE:TER) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Teradyne had a return on equity of 22.39% and a net margin of 21.11%. The business had revenue of $503.40 million during the quarter, compared to analysts’ expectations of $472.86 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. equities analysts forecast that Teradyne will post 2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Wednesday, November 29th were paid a $0.07 dividend. The ex-dividend date was Tuesday, November 28th. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. Teradyne’s payout ratio is 13.08%.
In related news, insider Brad Robbins sold 12,045 shares of the company’s 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 sale, the insider now owns 7,126 shares in the company, valued at approximately $300,645.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Charles Jeffrey Gray sold 8,161 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $42.25, for a total value of $344,802.25. Following the sale, the vice president now owns 31,500 shares in the company, valued at approximately $1,330,875. The disclosure for this sale can be found here. In the last three months, insiders sold 140,206 shares of company stock valued at $6,066,881. Insiders own 0.62% of the company’s stock.
Several institutional investors have recently made changes to their positions in TER. WFG Advisors LP boosted its position in shares of Teradyne by 21.9% during the 2nd quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 700 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its position in shares of Teradyne by 193.3% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,400 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 2,900 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Teradyne during the 2nd quarter valued at about $147,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Teradyne by 2,678.1% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,195 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,044 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in shares of Teradyne during the 3rd quarter valued at about $179,000. Institutional investors own 96.45% 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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