Teradyne, Inc. (NASDAQ:TER) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Teradyne has an average analyst rating of “Moderate Buy” from 16 brokerages, with 12 buy ratings, three holds, and one strong buy. The average 12-month price target is about $390.53.
• Several firms recently raised their views on the stock, including Goldman Sachs lifting its target to $465 and JPMorgan upgrading Teradyne to overweight with a $400 target.
• Teradyne reported strong quarterly results, posting EPS of $2.56 versus estimates of $2.11 and revenue of $1.28 billion, while also increasing its quarterly dividend to $0.13 per share.

Shares of Teradyne, Inc. (NASDAQ:TER - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $390.5333.

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group boosted their target price on shares of Teradyne from $350.00 to $465.00 and gave the company a "buy" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price target for the company in a report on Thursday, April 30th. Evercore set a $370.00 price target on shares of Teradyne in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th.

Insider Activity at Teradyne

In other news, insider Shannon John Poulin sold 656 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the transaction, the insider owned 15,722 shares of the company's stock, valued at approximately $5,581,310. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total transaction of $256,768.00. Following the completion of the sale, the vice president owned 7,665 shares in the company, valued at approximately $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,941 shares of company stock valued at $5,444,112 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teradyne

Several institutional investors and hedge funds have recently added to or reduced their stakes in TER. State Street Corp increased its holdings in shares of Teradyne by 0.9% during the fourth quarter. State Street Corp now owns 7,078,635 shares of the company's stock worth $1,370,141,000 after buying an additional 60,986 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Teradyne by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company's stock valued at $723,600,000 after acquiring an additional 336,757 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Teradyne by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company's stock valued at $813,640,000 after acquiring an additional 659,273 shares in the last quarter. Invesco Ltd. grew its position in Teradyne by 3.5% during the 3rd quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock worth $407,322,000 after acquiring an additional 99,864 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its position in Teradyne by 48.6% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock worth $395,427,000 after acquiring an additional 940,000 shares during the last quarter. Institutional investors own 99.77% of the company's stock.

Teradyne Trading Down 0.9%

NASDAQ TER traded down $3.15 during midday trading on Friday, hitting $359.60. The company had a trading volume of 1,570,290 shares, compared to its average volume of 5,270,542. The firm has a 50-day moving average price of $384.37 and a 200-day moving average price of $322.35. The company has a market capitalization of $56.29 billion, a PE ratio of 66.59, a P/E/G ratio of 1.04 and a beta of 1.74. Teradyne has a twelve month low of $88.60 and a twelve month high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $0.75 EPS. Teradyne's quarterly revenue was up 87.0% on a year-over-year basis. On average, equities analysts anticipate that Teradyne will post 7.2 EPS for the current year.

Teradyne Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.1%. This is a boost from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 21st. Teradyne's payout ratio is 9.63%.

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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