Teradyne (NASDAQ:TER) Raised to Equal Weight at Morgan Stanley

Teradyne (NASDAQ:TER) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $100.00 target price on the stock, up from their previous target price of $74.00. Morgan Stanley’s price target would indicate a potential downside of 3.99% from the company’s current price.

A number of other equities analysts have also recently issued reports on TER. The Goldman Sachs Group initiated coverage on shares of Teradyne in a research report on Thursday, July 10th. They set a “sell” rating and a $80.00 price objective for the company. Susquehanna dropped their price target on Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a research note on Wednesday, April 30th. KeyCorp reissued a “sector weight” rating on shares of Teradyne in a report on Thursday, April 17th. Cantor Fitzgerald set a $105.00 target price on Teradyne and gave the stock an “overweight” rating in a report on Tuesday, June 24th. Finally, UBS Group increased their target price on Teradyne from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.44.

Teradyne Stock Performance

Shares of TER stock opened at $104.16 on Thursday. Teradyne has a fifty-two week low of $65.77 and a fifty-two week high of $144.16. The stock’s fifty day moving average price is $89.70 and its two-hundred day moving average price is $93.09. The company has a market cap of $16.71 billion, a PE ratio of 36.04, a P/E/G ratio of 2.25 and a beta of 1.72.

Teradyne (NASDAQ:TER) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $651.80 million during the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. Teradyne’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. On average, equities analysts predict that Teradyne will post 3.88 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of Teradyne stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the completion of the sale, the chief executive officer directly owned 97,547 shares in the company, valued at approximately $10,313,644.31. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Teradyne

Several large investors have recently modified their holdings of the stock. Berbice Capital Management LLC boosted its stake in Teradyne by 200.0% during the first quarter. Berbice Capital Management LLC now owns 300 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Teradyne during the 4th quarter worth about $34,000. Manchester Capital Management LLC grew its stake in shares of Teradyne by 44.7% in the 1st quarter. Manchester Capital Management LLC now owns 453 shares of the company’s stock valued at $37,000 after buying an additional 140 shares during the period. Brooklyn Investment Group grew its stake in shares of Teradyne by 189.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the company’s stock valued at $38,000 after buying an additional 302 shares during the period. Finally, Steph & Co. acquired a new stake in shares of Teradyne in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds 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.