Teradyne (NASDAQ:TER) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Teradyne (NASDAQ:TER) had its price objective raised by equities researchers at Stifel Nicolaus from $85.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential downside of 3.99% from the company’s previous close.

Several other equities research analysts also recently weighed in on TER. Cowen reissued a “buy” rating on shares of Teradyne in a research report on Wednesday. UBS Group reissued a “buy” rating and issued a $130.00 target price (up previously from $120.00) on shares of Teradyne in a report on Thursday. Cantor Fitzgerald set a $105.00 price target on Teradyne and gave the company an “overweight” rating in a report on Tuesday, June 24th. Susquehanna reduced their price objective on Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley upgraded shares of Teradyne from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $74.00 to $100.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.44.

Teradyne Trading Down 3.0%

Shares of NASDAQ:TER opened at $104.16 on Thursday. The stock has a fifty day simple moving average of $89.70 and a two-hundred day simple moving average of $93.09. Teradyne has a 12-month low of $65.77 and a 12-month high of $144.16. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.25 and a beta of 1.72.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The company had revenue of $651.80 million for the quarter, compared to analysts’ expectations of $649.02 million. During the same quarter in the previous year, the business posted $0.86 EPS. Teradyne’s revenue was down 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Teradyne will post 3.88 EPS for the current year.

Teradyne declared that its board has authorized a share buyback plan on Monday, April 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 554 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 of the company’s stock, valued at approximately $10,313,644.31. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Teradyne

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Teradyne by 2.5% during the 1st 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. raised its holdings in Teradyne by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock valued at $608,025,000 after acquiring an additional 1,065,474 shares during the period. Geode Capital Management LLC raised its holdings in Teradyne by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company’s stock valued at $515,665,000 after acquiring an additional 94,374 shares during the period. Aspex Management HK Ltd lifted its position 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 valued at $407,331,000 after acquiring an additional 847,409 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Teradyne by 26.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,118,297 shares of the company’s stock worth $286,634,000 after acquiring an additional 652,175 shares during the period. 99.77% of the stock is currently 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.