Teradyne (NASDAQ:TER) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Teradyne (NASDAQ:TER) had its target price boosted by research analysts at Morgan Stanley from $68.00 to $74.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 24.96% from the stock’s previous close.

A number of other research analysts have also recently weighed in on TER. Cantor Fitzgerald set a $105.00 price objective on shares of Teradyne and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. Susquehanna lowered their price objective on shares of Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a research note on Wednesday, April 30th. TD Cowen reduced their target price on shares of 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 reduced 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. Finally, Citigroup dropped their price target on shares of Teradyne from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.50.

Teradyne Trading Up 6.3%

Teradyne stock opened at $98.62 on Wednesday. The firm has a market capitalization of $15.82 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.05 and a beta of 1.70. The stock’s fifty day simple moving average is $84.55 and its 200-day simple moving average is $97.10. Teradyne has a twelve month low of $65.77 and a twelve month high of $163.21.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Teradyne had a net margin of 19.86% and a return on equity of 20.06%. The company had revenue of $685.70 million during the quarter, compared to the consensus estimate of $680.54 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Teradyne’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that Teradyne will post 3.88 earnings per share for the current year.

Teradyne announced that its Board of Directors has approved a share buyback program on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Teradyne

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Teradyne by 2.5% in the first quarter. Vanguard Group Inc. now owns 20,922,231 shares of the company’s stock valued at $1,728,176,000 after purchasing an additional 516,332 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of 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 acquiring an additional 1,065,474 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Teradyne by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company’s stock worth $515,665,000 after acquiring an additional 94,374 shares during the last quarter. Aspex Management HK Ltd lifted its holdings in shares of Teradyne by 35.5% in the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company’s stock worth $407,331,000 after acquiring an additional 847,409 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Teradyne by 4.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,957,049 shares of the company’s stock valued at $244,252,000 after buying an additional 131,152 shares during the last quarter. 99.77% of the stock is owned by institutional investors.

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.