Teradyne (NASDAQ:TER) Downgraded to "Neutral" Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Teradyne (NASDAQ:TER - Free Report) from an overweight rating to a neutral rating in a research note released on Thursday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $102.00 price objective on the stock, up from their previous price objective of $88.00.

Other analysts have also recently issued research reports about the company. Susquehanna reduced their price target on Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Teradyne in a research report on Thursday, July 10th. They set a "sell" rating and a $80.00 price objective for the company. Cantor Fitzgerald set a $105.00 price objective on Teradyne and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. KeyCorp reissued a "sector weight" rating on shares of Teradyne in a research report on Thursday, April 17th. Finally, Morgan Stanley boosted their price objective on Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Teradyne has an average rating of "Hold" and an average target price of $113.13.

Teradyne Price Performance

Shares of NASDAQ TER traded up $0.82 during mid-day trading on Thursday, hitting $92.80. The company had a trading volume of 2,813,454 shares, compared to its average volume of 2,792,609. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 4.01 and a beta of 1.70. Teradyne has a 12 month low of $65.77 and a 12 month high of $155.18. The firm's 50 day simple moving average is $86.08 and its two-hundred day simple moving average is $96.12.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. The company had revenue of $685.70 million for the quarter, compared to analysts' expectations of $680.54 million. Teradyne had a return on equity of 20.06% and a net margin of 19.86%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Equities analysts forecast that Teradyne will post 3.88 earnings per share for the current year.

Teradyne announced that its Board of Directors has authorized a stock buyback plan on Monday, April 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a $0.12 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. Teradyne's payout ratio is currently 13.56%.

Institutional Investors Weigh In On Teradyne

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Teradyne by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 20,922,231 shares of the company's stock worth $1,728,176,000 after purchasing an additional 516,332 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Teradyne by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after buying an additional 1,065,474 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Teradyne by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company's stock valued at $515,665,000 after acquiring an additional 94,374 shares during the last quarter. Aspex Management HK Ltd boosted its position in shares of Teradyne by 35.5% during the 4th quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock valued at $407,331,000 after acquiring an additional 847,409 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Teradyne by 4.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,957,049 shares of the company's stock valued at $244,252,000 after acquiring an additional 131,152 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Company Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.