Teradyne (NASDAQ:TER) Hits New 52-Week Low Following Analyst Downgrade

Teradyne, Inc. (NASDAQ:TER) hit a new 52-week low during trading on Wednesday after Susquehanna lowered their price target on the stock from $155.00 to $133.00. Susquehanna currently has a positive rating on the stock. Teradyne traded as low as $71.27 and last traded at $74.21, with a volume of 4355494 shares changing hands. The stock had previously closed at $74.89.

Several other research firms have also weighed in on TER. Robert W. Baird decreased their target price on shares of Teradyne from $140.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Northland Securities dropped their price objective on Teradyne from $154.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on Teradyne from $120.00 to $92.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Citigroup dropped their target price on Teradyne from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, Vertical Research assumed coverage on shares of Teradyne in a research report on Friday, March 7th. They set a “buy” rating and a $135.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.56.

Insider Buying and Selling

In other Teradyne news, insider Richard John Burns sold 445 shares of Teradyne stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total transaction of $49,613.05. Following the completion of the transaction, the insider now owns 25,191 shares in the company, valued at approximately $2,808,544.59. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Mehta sold 1,384 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total value of $154,302.16. Following the completion of the sale, the chief financial officer now owns 36,576 shares in the company, valued at $4,077,858.24. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,045 shares of company stock valued at $227,997 over the last quarter. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Teradyne

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Teradyne in the 4th quarter worth $270,989,000. Van ECK Associates Corp grew its position in shares of Teradyne by 59.9% during the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after buying an additional 1,846,079 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Teradyne during the 4th quarter worth $160,087,000. Ameriprise Financial Inc. grew its stake in Teradyne by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock worth $608,025,000 after purchasing an additional 1,065,474 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Teradyne by 142.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company’s stock valued at $191,718,000 after acquiring an additional 894,849 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Stock Down 0.6 %

The stock has a market cap of $11.87 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The firm’s 50 day simple moving average is $84.99 and its two-hundred day simple moving average is $107.50.

Teradyne (NASDAQ:TER) last posted its earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. The company had revenue of $685.70 million for the quarter, compared to analysts’ expectations of $680.54 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne declared that its board has initiated a share repurchase program on Monday, April 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Teradyne Company Profile

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.