Zacks Research Downgrades Teradyne (NASDAQ:TER) to Hold

Teradyne (NASDAQ:TER) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other research firms have also recently weighed in on TER. Robert W. Baird reiterated a “neutral” rating and issued a $420.00 target price on shares of Teradyne in a research note on Friday, August 21st. Evercore reaffirmed an “outperform” rating and issued a $420.00 price target on shares of Teradyne in a report on Thursday, July 30th. Weiss Ratings lowered Teradyne from a “buy (b)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Finally, UBS Group raised their target price on Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.80.

Teradyne Stock Up 0.4%

Shares of TER stock opened at $403.02 on Monday. Teradyne has a 12 month low of $131.75 and a 12 month high of $487.91. The firm has a market cap of $63.01 billion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.78. The stock has a 50 day moving average of $371.63 and a 200-day moving average of $365.62.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.09 by $0.38. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $0.57 EPS. The business’s quarterly revenue was up 103.9% compared to the same quarter last year. As a group, equities analysts predict that Teradyne will post 9.11 EPS for the current fiscal year.

Insider Transactions at Teradyne

In related news, CEO Gregory Smith sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $337.83, for a total value of $1,351,320.00. Following the transaction, the chief executive officer owned 108,495 shares in the company, valued at $36,652,865.85. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Teradyne

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Teradyne during the second quarter worth $9,404,408,000. State Street Corp boosted its holdings in Teradyne by 4.6% in the 2nd quarter. State Street Corp now owns 7,290,460 shares of the company’s stock valued at $3,527,416,000 after purchasing an additional 320,034 shares during the period. Van ECK Associates Corp increased its holdings in shares of Teradyne by 5.0% during the second quarter. Van ECK Associates Corp now owns 2,607,914 shares of the company’s stock worth $1,261,813,000 after purchasing an additional 123,549 shares during the period. ABS Investment Management LLC bought a new stake in shares of Teradyne during the 2nd quarter valued at $1,006,387,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Teradyne by 0.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,978,124 shares of the company’s stock worth $957,096,000 after purchasing an additional 12,659 shares during the period. 99.77% of the stock is owned by institutional investors.

Teradyne Company Profile

Teradyne, Inc is a global provider of automated test equipment and industrial automation solutions. Founded in 1960 and headquartered in North Reading, Massachusetts, the company develops systems that help manufacturers test the performance, quality, and reliability of electronic products and components.

Teradyne’s products include semiconductor test systems used to evaluate integrated circuits, memory devices, and other semiconductor components. The company also provides test solutions for wireless products, storage systems, and complex electronic systems, along with related software, services, and support.

Through its Industrial Automation segment, Teradyne offers collaborative robots from Universal Robots, autonomous mobile robots from Mobile Industrial Robots, and robotic arms and systems for manufacturing and other industrial applications.