JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Teradyne (NASDAQ:TER) Stock

Key Points

• JPMorgan Chase & Co. raised its price target on Teradyne from $315 to $400 while maintaining a "neutral" rating, implying roughly a 9.37% potential upside from the stock's recent price (~$365.73).
• Teradyne reported a strong quarter (EPS $1.80 vs. $1.36 estimate; revenue up 43.9% year-over-year) and has seen heavy institutional buying—major stakes from Norges Bank, Wellington and others—with institutions owning about 99.77% of the shares.

Teradyne (NASDAQ:TER - Get Free Report) had its price target upped by equities researchers at JPMorgan Chase & Co. from $315.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 9.37% from the company's current price.

Other equities analysts have also issued reports about the stock. Evercore upped their target price on shares of Teradyne from $200.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Vertical Research downgraded Teradyne from a "buy" rating to a "hold" rating and set a $220.00 price target on the stock. in a research note on Friday, January 9th. Susquehanna upped their price objective on Teradyne from $335.00 to $415.00 and gave the stock a "positive" rating in a research report on Thursday, April 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Teradyne in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada set a $270.00 target price on Teradyne in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $303.53.

Teradyne Trading Up 0.2%

Shares of NASDAQ:TER traded up $0.77 during trading on Thursday, hitting $365.73. 1,216,420 shares of the company's stock traded hands, compared to its average volume of 3,385,754. The company has a 50-day moving average price of $314.02 and a 200-day moving average price of $231.71. Teradyne has a 52 week low of $68.24 and a 52 week high of $373.00. The company has a market cap of $57.26 billion, a price-to-earnings ratio of 105.09, a price-to-earnings-growth ratio of 2.21 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.36 by $0.44. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $970.44 million. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The business's quarterly revenue was up 43.9% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, analysts predict that Teradyne will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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