Cantor Fitzgerald Reiterates “Overweight” Rating for Teradyne (NASDAQ:TER)

Teradyne (NASDAQ:TER)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They presently have a $160.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 43.34% from the company’s previous close.

A number of other equities research analysts have also issued reports on TER. Robert W. Baird cut their price target on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley cut shares of Teradyne from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $121.00 to $117.00 in a research report on Tuesday, January 21st. Susquehanna raised their target price on shares of Teradyne from $145.00 to $165.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Northland Capmk raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Craig Hallum dropped their target price on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

Teradyne Stock Performance

Shares of TER stock traded down $10.43 on Thursday, hitting $111.62. 4,181,244 shares of the company’s stock traded hands, compared to its average volume of 2,593,266. Teradyne has a one year low of $92.29 and a one year high of $163.21. The company’s fifty day simple moving average is $125.02 and its 200 day simple moving average is $125.71. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.25 and a beta of 1.46.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. As a group, sell-side analysts anticipate that Teradyne will post 3.17 earnings per share for the current fiscal year.

Teradyne declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the transaction, the chief executive officer now owns 74,660 shares of the company’s stock, valued at approximately $9,705,800. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Mehta sold 1,789 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $120.51, for a total transaction of $215,592.39. Following the completion of the transaction, the chief financial officer now directly owns 33,308 shares in the company, valued at $4,013,947.08. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,383 shares of company stock valued at $677,935 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teradyne

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Teradyne during the third quarter valued at $2,221,000. Cerity Partners LLC raised its stake in Teradyne by 87.1% during the third quarter. Cerity Partners LLC now owns 11,371 shares of the company’s stock valued at $1,523,000 after purchasing an additional 5,294 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Teradyne by 17.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock valued at $10,325,000 after acquiring an additional 11,541 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Teradyne by 30.5% in the 3rd quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock worth $11,878,000 after acquiring an additional 20,762 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Teradyne in the 3rd quarter worth about $806,000. Hedge funds and other institutional investors 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.