Zacks Investment Research cut shares of Teradyne, Inc. (NYSE:TER) from a hold rating to a sell rating in a research report released on Monday, July 17th.
According to Zacks, “Teradyne is a leading provider of automated test equipment. Over the last one year, the stock has outperformed the Zacks Electronics - Testing Equipment industry. Also, Teradyne’s first quarter results surpassed the Zacks Consensus Estimate on earnings and revenue. A recovery in the core semiconductor business (processors, MCUs and power management), long-term opportunities in the high-growth wireless test market, growing memory market exposure, strong product lineup, lean cost structure and strong balance sheet are positives. Given the popularity of its products, the Universal Robots acquisition and the continuous design win momentum; the company is optimistic long-term prospects. However, weakness in the wireless test market could be a concern in the near term.”
Other research analysts have also issued research reports about the company. BidaskClub lowered Teradyne from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. ValuEngine upgraded Teradyne from a hold rating to a buy rating in a research report on Friday, June 2nd. Needham & Company LLC boosted their price objective on Teradyne from $32.00 to $40.00 and gave the stock a buy rating in a research note on Friday, April 28th. Deutsche Bank AG boosted their price objective on Teradyne from $30.00 to $34.00 and gave the stock a buy rating in a research note on Monday, April 24th. Finally, Stifel Nicolaus raised Teradyne from a hold rating to a buy rating and boosted their price objective for the stock from $32.00 to $39.00 in a research note on Wednesday, July 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Teradyne has an average rating of Buy and an average target price of $35.70.
Shares of Teradyne (TER) traded up 0.67% during midday trading on Monday, hitting $34.59. 1,920,395 shares of the stock traded hands. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 17.85 and a beta of 0.95. The company’s 50 day moving average price is $33.27 and its 200-day moving average price is $32.29. Teradyne has a 12-month low of $19.92 and a 12-month high of $36.86. Teradyne also saw unusually large options trading on Monday. Investors purchased 25,233 call options on the company. This represents an increase of approximately 1,090% compared to the average daily volume of 2,121 call options.
Teradyne (NYSE:TER) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. Teradyne had a return on equity of 21.25% and a net margin of 20.08%. The company had revenue of $697 million during the quarter, compared to analyst estimates of $683.66 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. On average, equities research analysts expect that Teradyne will post $1.97 EPS for the current year.
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In other Teradyne news, Director Michael A. Bradley sold 9,235 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $35.32, for a total value of $326,180.20. Following the transaction, the director now owns 195,405 shares in the company, valued at $6,901,704.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Jagiela sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now owns 248,413 shares in the company, valued at approximately $8,570,248.50. The disclosure for this sale can be found here. Insiders have sold 63,127 shares of company stock worth $2,190,650 over the last three months. 0.62% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of Teradyne by 0.8% in the second quarter. Ameritas Investment Partners Inc. now owns 77,538 shares of the semiconductor company’s stock worth $2,328,000 after buying an additional 592 shares during the period. Castleark Management LLC bought a new stake in Teradyne during the second quarter valued at about $12,652,000. Nomura Holdings Inc. increased its stake in Teradyne by 6.5% in the second quarter. Nomura Holdings Inc. now owns 403,469 shares of the semiconductor company’s stock valued at $12,130,000 after buying an additional 24,600 shares during the period. The Manufacturers Life Insurance Company increased its stake in Teradyne by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 409,612 shares of the semiconductor company’s stock valued at $12,300,000 after buying an additional 59,304 shares during the period. Finally, Caxton Associates LP bought a new stake in Teradyne during the second quarter valued at about $444,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.
About Teradyne
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.
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