Evercore ISI Initiates Coverage on Teradyne (NASDAQ:TER)

Evercore ISI started coverage on shares of Teradyne (NASDAQ:TER) in a report released on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $130.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 27.36% from the stock’s current price.

A number of other equities research analysts also recently issued reports on TER. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 price target on shares of Teradyne in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price target on Teradyne from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Teradyne presently has an average rating of “Hold” and an average target price of $113.73.

Teradyne Stock Performance

NASDAQ TER opened at $102.07 on Tuesday. Teradyne has a one year low of $81.07 and a one year high of $119.20. The stock has a 50-day moving average of $105.45 and a 200 day moving average of $100.41. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 37.39 and a beta of 1.56.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. Teradyne had a return on equity of 19.45% and a net margin of 16.77%. The company had revenue of $670.60 million during the quarter, compared to the consensus estimate of $674.99 million. During the same period last year, the company earned $0.92 EPS. Teradyne’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts predict that Teradyne will post 2.95 earnings per share for the current fiscal year.

Insider Activity at Teradyne

In related news, CFO Sanjay Mehta sold 1,083 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $110.95, for a total transaction of $120,158.85. Following the completion of the transaction, the chief financial officer now directly owns 45,107 shares in the company, valued at approximately $5,004,621.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Richard John Burns sold 1,744 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $104.89, for a total value of $182,928.16. Following the transaction, the insider now directly owns 16,734 shares of the company’s stock, valued at approximately $1,755,229.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Mehta sold 1,083 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $110.95, for a total value of $120,158.85. Following the completion of the transaction, the chief financial officer now directly owns 45,107 shares in the company, valued at $5,004,621.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,797 shares of company stock worth $1,248,237. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TER. Mutual of America Capital Management LLC raised its holdings in shares of Teradyne by 6.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 41,973 shares of the company’s stock worth $4,555,000 after acquiring an additional 2,590 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Teradyne by 8,125.5% during the 4th quarter. International Assets Investment Management LLC now owns 133,088 shares of the company’s stock worth $14,443,000 after acquiring an additional 131,470 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Teradyne by 3.8% during the 4th quarter. Raymond James & Associates now owns 448,581 shares of the company’s stock worth $48,680,000 after acquiring an additional 16,595 shares in the last quarter. Value Aligned Research Advisors LLC purchased a new stake in shares of Teradyne during the 4th quarter worth approximately $2,981,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Teradyne by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,632,831 shares of the company’s stock worth $164,034,000 after acquiring an additional 47,889 shares in the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

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.