Teradyne (NASDAQ:TER) Price Target Raised to $74.00

Teradyne (NASDAQ:TER - Free Report) had its price objective lifted by Morgan Stanley from $68.00 to $74.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on TER. Cantor Fitzgerald set a $105.00 price objective on Teradyne and gave the company an "overweight" rating in a research note on Tuesday, June 24th. KeyCorp reaffirmed a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. TD Cowen lowered their price target on Teradyne from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Robert W. Baird cut their target price on shares of Teradyne from $140.00 to $110.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on Teradyne from $120.00 to $92.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Teradyne currently has a consensus rating of "Moderate Buy" and an average target price of $112.50.

Teradyne Price Performance

Shares of NASDAQ TER traded down $1.57 during midday trading on Wednesday, reaching $97.05. The company's stock had a trading volume of 3,744,243 shares, compared to its average volume of 2,768,608. The firm has a 50 day moving average price of $84.55 and a 200-day moving average price of $97.10. Teradyne has a 12-month low of $65.77 and a 12-month high of $163.21. The stock has a market capitalization of $15.57 billion, a P/E ratio of 27.42, a PEG ratio of 4.05 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, equities analysts predict that Teradyne will post 3.88 EPS for the current year.

Teradyne declared that its Board of Directors has initiated a share buyback program on Monday, April 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is presently 13.56%.

Institutional Investors Weigh In On Teradyne

A number of large investors have recently bought and sold shares of TER. Mitchell & Pahl Private Wealth LLC lifted its holdings in Teradyne by 13.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 9,475 shares of the company's stock valued at $852,000 after acquiring an additional 1,119 shares during the period. CX Institutional increased its holdings in shares of Teradyne by 209.7% during the 2nd quarter. CX Institutional now owns 3,447 shares of the company's stock valued at $310,000 after purchasing an additional 2,334 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Teradyne by 250.8% in the 2nd quarter. UMB Bank n.a. now owns 2,112 shares of the company's stock valued at $190,000 after purchasing an additional 1,510 shares during the period. Diversified Trust Co acquired a new stake in Teradyne in the 2nd quarter worth about $469,000. Finally, IFM Investors Pty Ltd raised its holdings in Teradyne by 2.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 30,230 shares of the company's stock valued at $2,718,000 after acquiring an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

About Teradyne

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.