Teradyne (NASDAQ:TER) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Teradyne from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $396.80.
• Teradyne reported strong quarterly results, with EPS of $2.47 versus the $2.09 estimate and revenue of $1.33 billion, up 103.9% year over year.
• Shares opened at $379.72, while CEO Gregory Smith sold 4,000 shares for $1.7 million under a pre-arranged trading plan; institutional investors own 99.77% of the company.

Teradyne (NASDAQ:TER - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $465.00 price objective on shares of Teradyne in a report on Tuesday, July 28th. Robert W. Baird restated a "neutral" rating and set a $420.00 price target on shares of Teradyne in a research report on Friday, August 21st. Evercore reaffirmed an "outperform" rating and set a $420.00 price target on shares of Teradyne in a research note on Thursday, July 30th. UBS Group upped their price objective on Teradyne from $440.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Morgan Stanley raised their price objective on Teradyne from $387.00 to $397.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Teradyne currently has a consensus rating of "Moderate Buy" and an average target price of $396.80.

Teradyne Price Performance

Shares of NASDAQ TER opened at $379.72 on Friday. The stock has a market capitalization of $59.37 billion, a PE ratio of 52.09, a P/E/G ratio of 0.75 and a beta of 1.78. Teradyne has a one year low of $109.56 and a one year high of $487.91. The business's fifty day moving average price is $365.59 and its 200-day moving average price is $360.05.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.09 by $0.38. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.22 billion. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. Teradyne's revenue for the quarter was up 103.9% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. As a group, equities analysts expect that Teradyne will post 9.1 EPS for the current fiscal year.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Smith sold 4,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chief executive officer directly owned 112,495 shares in the company, valued at approximately $47,810,375. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Leeward Financial Partners LLC purchased a new position in Teradyne during the second quarter valued at $3,735,000. Legal & General Group Plc purchased a new stake in shares of Teradyne in the 2nd quarter worth about $656,058,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Teradyne in the 2nd quarter worth about $4,826,000. Griffin Asset Management Inc. bought a new position in shares of Teradyne in the 4th quarter worth about $671,000. Finally, Handelsbanken Fonder AB increased its stake in shares of Teradyne by 2.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 127,990 shares of the company's stock worth $61,927,000 after acquiring an additional 3,250 shares in the last quarter. Institutional investors own 99.77% of the company's stock.

About Teradyne

Teradyne, Inc NASDAQ: TER develops and supplies automated test equipment and industrial automation solutions. Its testing products are used by semiconductor, electronics, wireless, storage and other manufacturers to evaluate the performance and quality of components, devices and systems during production.

The company's semiconductor test business provides systems for testing logic, memory, analog and mixed-signal devices, along with related handlers and software. Teradyne also offers system and product test solutions for electronic equipment and wireless devices.

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