Teradyne (NASDAQ:TER) Coverage Initiated at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group started coverage on shares of Teradyne (NASDAQ:TER) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “sell” rating and a $80.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 17.57% from the company’s previous close.

A number of other analysts also recently issued reports on TER. Bank of America cut their target price on Teradyne from $100.00 to $85.00 and set an “underperform” rating for the company in a research note on Wednesday, March 12th. Citigroup cut their target price on Teradyne from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Morgan Stanley raised their target price on Teradyne from $68.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday. TD Cowen cut their price objective on Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, Robert W. Baird cut their price objective on Teradyne from $140.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.50.

Teradyne Stock Performance

NASDAQ TER opened at $97.05 on Thursday. Teradyne has a one year low of $65.77 and a one year high of $163.21. The company has a market cap of $15.57 billion, a P/E ratio of 27.42, a P/E/G ratio of 4.30 and a beta of 1.70. The business has a fifty day moving average price of $84.97 and a 200 day moving average price of $96.87.

Teradyne (NASDAQ:TER) last issued its earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. Teradyne had a return on equity of 20.06% and a net margin of 19.86%. The business had revenue of $685.70 million during the quarter, compared to the consensus estimate of $680.54 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts predict that Teradyne will post 3.88 EPS for the current fiscal year.

Teradyne declared that its Board of Directors has approved a share repurchase plan on Monday, April 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Teradyne

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Teradyne by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 20,922,231 shares of the company’s stock valued at $1,728,176,000 after buying an additional 516,332 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Teradyne by 28.3% in the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock valued at $608,025,000 after buying an additional 1,065,474 shares during the period. Geode Capital Management LLC boosted its stake in shares of Teradyne by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company’s stock valued at $515,665,000 after buying an additional 94,374 shares during the period. Aspex Management HK Ltd lifted its stake in Teradyne by 35.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company’s stock worth $407,331,000 after purchasing an additional 847,409 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Teradyne by 4.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,957,049 shares of the company’s stock worth $244,252,000 after purchasing an additional 131,152 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other 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.