Teradyne (NASDAQ:TER) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Teradyne hit a new 52-week high after JPMorgan boosted its price target from $315 to $400 while keeping a neutral rating, with the stock trading as high as $376.55.
• The company beat expectations for the quarter (EPS $1.80 vs. $1.36 est.; revenue $1.08B, +43.9% YoY), prompting several analysts to raise targets and leaving a consensus rating of "Moderate Buy" with an average target of $303.53.
• Teradyne has a market cap of $58.78B and a high valuation (PE ~108.4), while institutional investors own about 99.77% of the stock; the firm also pays a small quarterly dividend of $0.12 (≈0.1% yield).

Teradyne, Inc. (NASDAQ:TER - Get Free Report)'s share price hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $315.00 to $400.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Teradyne traded as high as $376.55 and last traded at $373.9180, with a volume of 242427 shares traded. The stock had previously closed at $365.92.

A number of other equities analysts also recently commented on TER. UBS Group boosted their price objective on Teradyne from $200.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Stifel Nicolaus set a $325.00 target price on Teradyne in a research note on Wednesday, February 4th. Bank of America boosted their target price on Teradyne from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Citigroup boosted their target price on Teradyne from $215.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. Finally, Susquehanna boosted their target price on Teradyne from $335.00 to $415.00 and gave the stock a "positive" rating in a research note on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $303.53.

Institutional Investors Weigh In On Teradyne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TER. Integrated Wealth Concepts LLC lifted its stake in Teradyne by 12.8% in the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock valued at $342,000 after buying an additional 468 shares during the last quarter. Caxton Associates LLP purchased a new stake in Teradyne in the first quarter valued at approximately $297,000. Cresset Asset Management LLC lifted its stake 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 buying an additional 702 shares during the last quarter. NewEdge Advisors LLC lifted its stake 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 buying an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted 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 buying an additional 3,651 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Price Performance

The stock has a 50 day simple moving average of $315.91 and a two-hundred day simple moving average of $232.64. The company has a market cap of $58.78 billion, a PE ratio of 108.38, a PEG ratio of 2.21 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.44. Teradyne had a return on equity of 22.68% and a net margin of 17.37%.The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $970.44 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm's revenue for the quarter was up 43.9% on a year-over-year basis. As a group, equities analysts anticipate that Teradyne, Inc. will post 3.88 EPS for the current fiscal year.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, February 13th. Teradyne's dividend payout ratio is 14.94%.

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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