Susquehanna Cuts Teradyne (NASDAQ:TER) Price Target to $133.00

Teradyne (NASDAQ:TER) had its target price cut by Susquehanna from $155.00 to $133.00 in a report published on Wednesday morning,Benzinga reports. They currently have a positive rating on the stock.

Several other brokerages also recently weighed in on TER. UBS Group set a $130.00 target price on Teradyne and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Cantor Fitzgerald cut their price objective on shares of Teradyne from $150.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. TD Cowen decreased their price objective on shares of Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. KeyCorp reissued a “sector weight” rating on shares of Teradyne in a research report on Thursday, April 17th. Finally, Bank of America decreased their price target on shares of Teradyne from $100.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teradyne has an average rating of “Moderate Buy” and an average target price of $117.56.

Teradyne Price Performance

TER opened at $75.88 on Wednesday. The firm has a market capitalization of $12.20 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The business’s 50-day moving average is $84.28 and its two-hundred day moving average is $107.15. Teradyne has a 1 year low of $65.77 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The firm had revenue of $685.70 million during the quarter, compared to analyst estimates of $680.54 million. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. Teradyne’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, sell-side analysts expect that Teradyne will post 3.88 EPS for the current year.

Teradyne declared that its Board of Directors has authorized a stock buyback program on Monday, April 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

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

Institutional Investors Weigh In On Teradyne

A number of large investors have recently modified their holdings of TER. Larson Financial Group LLC boosted its position in Teradyne by 160.7% during the first quarter. Larson Financial Group LLC now owns 5,181 shares of the company’s stock worth $428,000 after acquiring an additional 3,194 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Teradyne by 76.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 159,025 shares of the company’s stock valued at $13,135,000 after purchasing an additional 68,766 shares in the last quarter. Dakota Wealth Management grew its position in shares of Teradyne by 22.6% in the first quarter. Dakota Wealth Management now owns 6,565 shares of the company’s stock valued at $542,000 after purchasing an additional 1,210 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Teradyne by 103.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 763,012 shares of the company’s stock worth $63,025,000 after buying an additional 388,113 shares in the last quarter. Finally, CWM LLC grew its holdings in Teradyne by 966.7% in the 1st quarter. CWM LLC now owns 37,451 shares of the company’s stock valued at $3,093,000 after buying an additional 33,940 shares in 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.