Teradyne (NASDAQ:TER) Cut to Underweight at Morgan Stanley

Teradyne (NASDAQ:TER) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $117.00 target price on the stock, down from their previous target price of $121.00. Morgan Stanley’s target price would suggest a potential downside of 15.46% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Craig Hallum reduced their target price on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Evercore ISI raised their price objective on Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Northland Capmk raised Teradyne from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $158.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Teradyne presently has a consensus rating of “Moderate Buy” and an average target price of $147.77.

Teradyne Trading Up 0.6 %

TER stock opened at $138.40 on Tuesday. The firm’s 50-day moving average is $121.85 and its two-hundred day moving average is $126.85. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46. Teradyne has a 52 week low of $92.29 and a 52 week high of $163.21.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $737.30 million for the quarter, compared to analysts’ expectations of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. On average, equities research analysts predict that Teradyne will post 3.17 earnings per share for the current year.

Teradyne announced that its Board of Directors has initiated a share repurchase plan on Monday, November 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the completion of the sale, the chief executive officer now directly owns 74,660 shares of the company’s stock, valued at $9,705,800. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teradyne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Teradyne during the third quarter worth $29,000. Quarry LP boosted its stake in shares of Teradyne by 256.1% during the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock worth $35,000 after acquiring an additional 169 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Teradyne during the 3rd quarter valued at about $46,000. Brooklyn Investment Group bought a new position in shares of Teradyne in the 3rd quarter valued at approximately $52,000. Finally, Eastern Bank bought a new position in shares of Teradyne in the 3rd quarter valued at approximately $67,000. Institutional investors own 99.77% of the company’s stock.

Teradyne Company Profile

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.