Cantor Fitzgerald Raises Teradyne (NASDAQ:TER) Price Target to $400.00

Key Points

• Cantor Fitzgerald raised Teradyne's price target from $330 to $400 and kept an "overweight" rating, implying roughly a 9.45% upside from the current price.
• Other analysts remain mostly positive—Susquehanna bumped its target to $415 and Wall Street Zen upgraded to "buy"—and MarketBeat shows a consensus of Moderate Buy with an average target of $289.53.
• Teradyne reported a strong quarter, beating EPS estimates ($1.80 vs. $1.36) with revenue up 43.9% year-over-year, and the stock (~$365.47) has seen substantial institutional buying.

Teradyne (NASDAQ:TER - Get Free Report) had its target price hoisted by equities researchers at Cantor Fitzgerald from $330.00 to $400.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target indicates a potential upside of 9.45% from the stock's current price.

Several other equities research analysts have also recently issued reports on the company. Susquehanna boosted their price target on Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a research note on Thursday. Wall Street Zen upgraded Teradyne from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Royal Bank Of Canada set a $270.00 price objective on Teradyne in a report on Monday, February 2nd. Vertical Research downgraded Teradyne from a "buy" rating to a "hold" rating and set a $220.00 target price for the company. in a research report on Friday, January 9th. Finally, Stifel Nicolaus set a $325.00 target price on Teradyne in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $289.53.

Teradyne Stock Performance

NASDAQ:TER traded up $7.18 during mid-day trading on Thursday, reaching $365.47. 954,479 shares of the company's stock were exchanged, compared to its average volume of 3,409,043. Teradyne has a one year low of $68.24 and a one year high of $369.64. The firm has a market capitalization of $57.22 billion, a PE ratio of 104.89, a price-to-earnings-growth ratio of 1.92 and a beta of 1.79. The business's fifty day simple moving average is $303.25 and its two-hundred day simple moving average is $223.59.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.44. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $970.44 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business's revenue for the quarter was up 43.9% compared to the same quarter last year. As a group, equities research analysts forecast that Teradyne will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Teradyne

Several hedge funds and other institutional investors have recently made changes to their positions in TER. Norges Bank bought a new position in Teradyne in the 4th quarter valued at approximately $398,777,000. Wellington Management Group LLP grew its stake in shares of Teradyne by 13,949.4% during the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company's stock worth $280,357,000 after buying an additional 2,022,389 shares during the last quarter. Aspex Management HK Ltd acquired a new position in shares of Teradyne during the fourth quarter worth $199,723,000. Corient Private Wealth LLC increased its holdings in shares of Teradyne by 2,189.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,916 shares of the company's stock worth $208,254,000 after buying an additional 1,028,916 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its stake in shares of Teradyne by 48.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock valued at $395,427,000 after acquiring an additional 940,000 shares during the last quarter. 99.77% of the stock is owned by institutional investors.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company's product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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