Citigroup Has Lowered Expectations for Teradyne (NASDAQ:TER) Stock Price

Teradyne (NASDAQ:TER) had its price objective dropped by analysts at Citigroup from $130.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 15.23% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Susquehanna lowered their target price on Teradyne from $165.00 to $155.00 and set a “positive” rating on the stock in a report on Wednesday. Northland Capmk upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Vertical Research assumed coverage on shares of Teradyne in a research report on Friday, March 7th. They set a “buy” rating and a $135.00 target price for the company. Northland Securities decreased their price target on shares of Teradyne from $154.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, KeyCorp cut their price objective on shares of Teradyne from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.13.

Teradyne Stock Down 0.3 %

Shares of NASDAQ TER traded down $0.29 during trading on Wednesday, reaching $86.78. 4,507,828 shares of the company traded hands, compared to its average volume of 2,935,920. The firm has a 50 day simple moving average of $120.09 and a 200-day simple moving average of $121.19. Teradyne has a 52-week low of $82.98 and a 52-week high of $163.21. The stock has a market capitalization of $14.03 billion, a PE ratio of 26.10, a P/E/G ratio of 2.83 and a beta of 1.46.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, January 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. As a group, research analysts predict that Teradyne will post 3.88 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the sale, the chief executive officer now directly owns 74,660 shares in the company, valued at $9,705,800. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sanjay Mehta sold 1,384 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total transaction of $154,302.16. Following the sale, the chief financial officer now owns 36,576 shares in the company, valued at $4,077,858.24. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,479 shares of company stock valued at $1,013,134 in the last quarter. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teradyne

A number of institutional investors and hedge funds have recently modified their holdings of TER. Norges Bank purchased a new position in Teradyne during the fourth quarter worth $270,989,000. Van ECK Associates Corp lifted its holdings in shares of Teradyne by 59.9% in the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after acquiring an additional 1,846,079 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Teradyne during the 4th quarter worth about $160,087,000. Ameriprise Financial Inc. grew its holdings in Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock valued at $608,025,000 after purchasing an additional 1,065,474 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Teradyne by 142.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company’s stock worth $191,718,000 after purchasing an additional 894,849 shares during the period. 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.