Teradyne’s (TER) Overweight Rating Reiterated at Cantor Fitzgerald

Teradyne (NASDAQ:TER)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They presently have a $160.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 43.34% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Evercore ISI lifted their price target on shares of Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Susquehanna lifted their price target on shares of Teradyne from $145.00 to $165.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Morgan Stanley cut shares of Teradyne from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $121.00 to $117.00 in a research note on Tuesday, January 21st. Northland Capmk raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Northland Securities raised shares of Teradyne from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $117.00 to $154.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.31.

Teradyne Stock Performance

NASDAQ:TER traded down $10.43 during mid-day trading on Thursday, hitting $111.62. The stock had a trading volume of 4,181,244 shares, compared to its average volume of 2,593,266. Teradyne has a twelve month low of $92.29 and a twelve month high of $163.21. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.25 and a beta of 1.46. The company’s 50 day simple moving average is $125.02 and its 200 day simple moving average is $125.71.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. As a group, equities analysts forecast that Teradyne will post 3.17 earnings per share for the current year.

Teradyne declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

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 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. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard John Burns sold 407 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $120.51, for a total transaction of $49,047.57. Following the sale, the insider now directly owns 20,764 shares of the company’s stock, valued at approximately $2,502,269.64. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,383 shares of company stock worth $677,935. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Teradyne

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Teradyne during the 3rd quarter valued at approximately $2,221,000. Cerity Partners LLC lifted its stake in shares of Teradyne by 87.1% during the 3rd quarter. Cerity Partners LLC now owns 11,371 shares of the company’s stock valued at $1,523,000 after buying an additional 5,294 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Teradyne by 17.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock valued at $10,325,000 after buying an additional 11,541 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Teradyne by 30.5% during the 3rd quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock valued at $11,878,000 after buying an additional 20,762 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Teradyne during the 3rd quarter valued at approximately $806,000. 99.77% of the stock is owned by institutional investors.

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.