Teradyne Inc. (NYSE:TER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Teradyne is a leading provider of automated test equipment. The company’s second-quarter earnings beat the Zacks Consensus Estimate. A recovery in the core semiconductor business (processors, MCUs and power management), long-term opportunities in the high-growth wireless test market, growing memory market exposure, strong product lineup, lean cost structure and strong balance sheet are positives. Given the popularity of its products, the Universal Robots acquisition and the continuous design win momentum; the company is optimistic long-term prospects. However, weakness in the wireless test market could be a concern in the near term.”
Other equities research analysts also recently issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Teradyne in a report on Sunday, June 26th. Stifel Nicolaus downgraded Teradyne from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. They noted that the move was a valuation call. TheStreet downgraded Teradyne from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Needham & Company LLC began coverage on Teradyne in a report on Thursday, July 7th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Credit Suisse Group AG restated a “hold” rating and set a $20.50 price objective on shares of Teradyne in a report on Friday, July 29th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $22.50.
Teradyne (NYSE:TER) traded up 1.27% during midday trading on Wednesday, hitting $21.45. The stock had a trading volume of 296,403 shares. Teradyne has a one year low of $17.32 and a one year high of $21.84. The firm’s market cap is $4.34 billion. The stock has a 50-day moving average price of $20.82 and a 200 day moving average price of $20.23.
Teradyne (NYSE:TER) last announced its earnings results on Wednesday, July 27th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $532 million for the quarter, compared to the consensus estimate of $526.75 million. Teradyne had a positive return on equity of 14.84% and a negative net margin of 5.88%. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Teradyne will post $1.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 7th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.13%. Teradyne’s dividend payout ratio is currently -46.15%.
In other Teradyne news, Director Michael A. Bradley sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $21.39, for a total transaction of $320,850.00. Following the completion of the transaction, the director now owns 164,721 shares in the company, valued at approximately $3,523,382.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Bradley sold 31,502 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $21.19, for a total value of $667,527.38. Following the transaction, the director now owns 171,223 shares of the company’s stock, valued at approximately $3,628,215.37. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Capital Management LLC raised its position in shares of Teradyne by 0.9% in the second quarter. Janus Capital Management LLC now owns 11,800 shares of the company’s stock worth $232,000 after buying an additional 100 shares during the period. Ngam Advisors L.P. raised its position in shares of Teradyne by 1.5% in the first quarter. Ngam Advisors L.P. now owns 22,554 shares of the company’s stock worth $486,000 after buying an additional 342 shares during the period. Synovus Financial Corp raised its position in shares of Teradyne by 0.5% in the second quarter. Synovus Financial Corp now owns 74,291 shares of the company’s stock worth $1,462,000 after buying an additional 403 shares during the period. First Interstate Bank raised its position in shares of Teradyne by 3.1% in the second quarter. First Interstate Bank now owns 18,808 shares of the company’s stock worth $370,000 after buying an additional 561 shares during the period. Finally, M&T Bank Corp raised its position in shares of Teradyne by 3.4% in the first quarter. M&T Bank Corp now owns 19,583 shares of the company’s stock worth $422,000 after buying an additional 649 shares during the period. Institutional investors own 91.42% of the company’s stock.
Teradyne Company Profile
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, computing, communications and aerospace and defense industries.
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