Teradyne (NASDAQ:TER) Price Target Raised to $446.00 at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Teradyne from $350 to $446 and kept an outperform rating, though that target still implies slight downside from the current share price.
• Other analysts have also turned more positive, with several firms lifting targets and JPMorgan upgrading the stock to overweight. The consensus rating is Moderate Buy with an average price target of $346.20.
• Teradyne reported strong quarterly results, beating EPS and revenue estimates and posting 87% year-over-year revenue growth. The stock has also surged near its 52-week high, opening at $457 versus a low of $85.58.

Teradyne (NASDAQ:TER - Get Free Report) had its price objective boosted by stock analysts at Robert W. Baird from $350.00 to $446.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential downside of 2.41% from the company's current price.

Several other research firms have also commented on TER. Morgan Stanley set a $387.00 price target on Teradyne in a research report on Thursday, April 30th. UBS Group boosted their price objective on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Evercore set a $370.00 target price on Teradyne in a research note on Thursday, April 30th. Cantor Fitzgerald raised their target price on Teradyne from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $346.20.

Teradyne Stock Performance

Teradyne stock opened at $457.00 on Tuesday. The company's 50 day simple moving average is $376.35 and its 200-day simple moving average is $302.73. The company has a market capitalization of $71.54 billion, a price-to-earnings ratio of 84.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.79. Teradyne has a 1 year low of $85.58 and a 1 year high of $459.19.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.45. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the company posted $0.75 EPS. The firm's quarterly revenue was up 87.0% on a year-over-year basis. Equities analysts expect that Teradyne will post 7.09 earnings per share for the current year.

Insider Activity at Teradyne

In related news, VP Ryan Driscoll sold 680 shares of Teradyne stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the transaction, the vice president owned 7,665 shares in the company, valued at $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 4,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares of the company's stock, valued at $50,962,424.10. This trade represents a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,941 shares of company stock valued at $5,444,112 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teradyne

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its position 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 worth $342,000 after acquiring an additional 468 shares in the last quarter. Caxton Associates LLP purchased a new stake in Teradyne during the first quarter worth approximately $297,000. Cresset Asset Management LLC boosted its holdings in Teradyne by 11.6% in 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 holdings in Teradyne by 467.1% in 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 increased its stake in Teradyne by 5.1% in the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock valued at $6,755,000 after purchasing an additional 3,651 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

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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