Bank of America Forecasts Strong Price Appreciation for Teradyne (NASDAQ:TER) Stock

by · The Markets Daily

Teradyne (NASDAQ:TER – Get Free Report) had its price target boosted by analysts at Bank of America from $365.00 to $525.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 14.88% from the stock’s previous close.

A number of other equities research analysts have also recently commented on TER. Robert W. Baird upped their target price on shares of Teradyne from $350.00 to $446.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price target on the stock in a research report on Thursday, April 30th. Zacks Research raised Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald increased their price objective on Teradyne from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley set a $387.00 target price on Teradyne in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $363.87.

Check Out Our Latest Analysis on Teradyne

Teradyne Trading Up 4.4%

TER stock opened at $457.00 on Tuesday. The company has a market capitalization of $71.54 billion, a P/E ratio of 84.63, a PEG ratio of 1.80 and a beta of 1.79. Teradyne has a twelve month low of $85.58 and a twelve month high of $459.19. The business has a 50 day simple moving average of $376.35 and a 200-day simple moving average of $302.73.

Teradyne (NASDAQ:TER – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. During the same period in the previous year, the company posted $0.75 EPS. The company’s quarterly revenue was up 87.0% on a year-over-year basis. Research analysts predict that Teradyne will post 7.09 EPS for the current fiscal year.

Insider Transactions at Teradyne

In related news, insider Shannon John Poulin sold 1,008 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $345.37, for a total value of $348,132.96. Following the completion of the sale, the insider owned 15,066 shares in the company, valued at $5,203,344.42. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $338.98, for a total value of $2,914,211.06. Following the completion of the sale, the chief executive officer directly owned 124,470 shares in the company, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,941 shares of company stock worth $5,444,112 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teradyne

A number of large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its position in Teradyne by 12.8% in the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock worth $342,000 after acquiring an additional 468 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Teradyne during the 1st quarter worth $297,000. Cresset Asset Management LLC grew its stake in shares of Teradyne by 11.6% during the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock worth $608,000 after purchasing an additional 702 shares during the period. NewEdge Advisors LLC grew its stake in shares of Teradyne by 467.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock worth $306,000 after purchasing an additional 2,807 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Teradyne by 5.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock valued at $6,755,000 after purchasing an additional 3,651 shares in the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

About Teradyne

(Get Free Report)

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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