Teradyne (NASDAQ:TER) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Teradyne (NASDAQ:TER) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley set a $306.00 price target on Teradyne in a research note on Wednesday, February 11th. Bank of America raised their target price on Teradyne from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Cantor Fitzgerald raised their target price on Teradyne from $330.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Evercore raised their target price on Teradyne from $200.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Teradyne in a report on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Teradyne has a consensus rating of “Moderate Buy” and an average target price of $289.53.

Teradyne Price Performance

TER stock opened at $364.96 on Monday. The company has a market cap of $57.14 billion, a P/E ratio of 104.87, a price-to-earnings-growth ratio of 2.21 and a beta of 1.79. Teradyne has a 1 year low of $68.24 and a 1 year high of $373.00. The stock’s fifty day moving average price is $314.02 and its 200-day moving average price is $231.71.

Teradyne (NASDAQ:TER) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $970.44 million. Teradyne had a return on equity of 22.68% and a net margin of 17.37%.The company’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. As a group, analysts expect that Teradyne will post 3.88 earnings per share for the current year.

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, February 13th. Teradyne’s dividend payout ratio (DPR) is currently 14.94%.

Hedge Funds Weigh In On Teradyne

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Teradyne during the fourth quarter valued at about $398,777,000. Wellington Management Group LLP raised its holdings in Teradyne by 13,949.4% during the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock valued at $280,357,000 after acquiring an additional 2,022,389 shares during the period. Aspex Management HK Ltd bought a new stake in Teradyne during the fourth quarter valued at about $199,723,000. Corient Private Wealth LLC raised its holdings in Teradyne by 2,189.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,916 shares of the company’s stock valued at $208,254,000 after acquiring an additional 1,028,916 shares during the period. Finally, Alkeon Capital Management LLC raised its holdings in Teradyne by 48.6% during the third quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock valued at $395,427,000 after acquiring an additional 940,000 shares during the period. 99.77% of the stock is owned by institutional investors.

About Teradyne

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.