Teradyne (NASDAQ:TER) Given New $465.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Teradyne’s price target from $350 to $465 and kept a buy rating, implying about 18.4% upside from the prior close.
• Several other analysts have also turned more bullish, with recent price targets ranging up to $550. Overall, Teradyne now has a Moderate Buy consensus and an average price target of $390.53.
• The stock was up 6.4% to $392.70, after a strong earnings report that beat estimates on both EPS and revenue. Quarterly revenue jumped 87% year over year, and analysts expect 7.2 EPS for the current fiscal year.

Teradyne (NASDAQ:TER - Get Free Report) had its price target hoisted by The Goldman Sachs Group from $350.00 to $465.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 18.41% from the company's previous close.

Several other equities analysts also recently commented on TER. Susquehanna upped their target price on Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research report on Tuesday, June 30th. Stifel Nicolaus lifted their price target on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Bank of America boosted their price target on Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Weiss Ratings upgraded Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Finally, Evercore set a $370.00 price objective on Teradyne in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $390.53.

Teradyne Trading Up 6.4%

Shares of NASDAQ:TER traded up $23.61 on Monday, hitting $392.70. The company had a trading volume of 985,268 shares, compared to its average volume of 3,862,015. Teradyne has a 1-year low of $88.60 and a 1-year high of $487.91. The stock has a market cap of $61.47 billion, a price-to-earnings ratio of 72.44, a P/E/G ratio of 1.07 and a beta of 1.74. The stock has a 50 day moving average price of $386.59 and a 200 day moving average price of $317.34.

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

Insider Buying and Selling

In related news, insider Shannon John Poulin sold 656 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the sale, the insider directly owned 15,722 shares of the company's stock, valued at $5,581,310. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, CEO Gregory Stephen Smith sold 4,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the transaction, the chief executive officer directly owned 120,470 shares of the company's stock, valued at approximately $50,962,424.10. The trade was a 3.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,941 shares of company stock worth $5,444,112 in the last ninety days. 0.19% of the stock is owned by insiders.

Institutional Trading of Teradyne

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of Teradyne by 12.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock valued at $342,000 after acquiring an additional 468 shares in the last quarter. Caxton Associates LLP bought a new position in Teradyne in the first quarter valued at about $297,000. Cresset Asset Management LLC boosted its stake in shares of Teradyne by 11.6% during the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock valued at $608,000 after purchasing an additional 702 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Teradyne by 467.1% during the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock valued at $306,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Teradyne by 5.1% during the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock worth $6,755,000 after purchasing an additional 3,651 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Company Profile

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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