Teradyne (NASDAQ:TER) Sets New 1-Year High After Analyst Upgrade

Shares of Teradyne, Inc. (NASDAQ:TER) hit a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $235.00 to $250.00. Bank of America currently has a buy rating on the stock. Teradyne traded as high as $230.32 and last traded at $228.9580, with a volume of 705565 shares changing hands. The stock had previously closed at $224.36.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their target price on Teradyne from $122.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. The Goldman Sachs Group upgraded shares of Teradyne from a “sell” rating to a “buy” rating and raised their price objective for the company from $148.00 to $230.00 in a research report on Monday, December 15th. Robert W. Baird set a $195.00 price objective on shares of Teradyne in a research note on Friday, October 31st. Zacks Research cut shares of Teradyne from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of Teradyne in a report on Tuesday, December 16th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.63.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 1,108 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $201.31, for a total value of $223,051.48. Following the completion of the transaction, the chief executive officer directly owned 93,409 shares in the company, valued at approximately $18,804,165.79. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Teradyne

Institutional investors have recently added to or reduced their stakes in the business. Dakota Wealth Management grew its stake in shares of Teradyne by 9.9% during the fourth quarter. Dakota Wealth Management now owns 6,610 shares of the company’s stock valued at $1,280,000 after buying an additional 598 shares during the last quarter. Trust Point Inc. purchased a new stake in Teradyne during the 4th quarter valued at about $211,000. Global X Japan Co. Ltd. grew its position in Teradyne by 38.8% during the 4th quarter. Global X Japan Co. Ltd. now owns 12,219 shares of the company’s stock worth $2,365,000 after acquiring an additional 3,418 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in Teradyne by 132.1% during the 4th quarter. Mayflower Financial Advisors LLC now owns 2,968 shares of the company’s stock worth $574,000 after acquiring an additional 1,689 shares during the last quarter. Finally, National Wealth Management Group LLC purchased a new position in Teradyne in the 4th quarter worth approximately $929,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Up 2.2%

The company has a 50-day simple moving average of $191.75 and a two-hundred day simple moving average of $145.14. The stock has a market cap of $35.91 billion, a P/E ratio of 83.37, a P/E/G ratio of 1.62 and a beta of 1.84.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. Teradyne had a net margin of 15.49% and a return on equity of 18.04%. The firm had revenue of $769.21 million for the quarter, compared to analysts’ expectations of $744.20 million. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, November 24th were given a $0.12 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.2%. Teradyne’s payout ratio is presently 17.45%.

Teradyne Company Profile

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.