Teradyne (NASDAQ:TER) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Teradyne (NASDAQ:TER) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Marketbeat reports. The firm currently has $158.00 price target on the stock, up from their prior price target of $145.00.

Several other equities analysts also recently weighed in on the company. Robert W. Baird reduced their target price on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Evercore ISI increased their price objective on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Northland Securities lowered their target price on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating for the company in a report on Friday, October 25th. Stifel Nicolaus cut their price target on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.25.

Teradyne Price Performance

NASDAQ:TER opened at $123.77 on Monday. The firm has a market cap of $20.16 billion, a PE ratio of 39.29, a P/E/G ratio of 2.66 and a beta of 1.51. The firm has a 50 day simple moving average of $115.02 and a 200-day simple moving average of $129.34. Teradyne has a 1-year low of $92.29 and a 1-year high of $163.21.

Teradyne (NASDAQ:TER) last released 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. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. The firm had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. During the same period in the previous year, the company earned $0.80 EPS. Teradyne’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Teradyne will post 3.17 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has authorized a stock buyback program on Monday, November 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, November 25th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.48 annualized dividend and a yield of 0.39%. Teradyne’s dividend payout ratio is currently 15.24%.

Insider Activity

In related news, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total transaction of $83,000.00. Following the sale, the director now owns 15,893 shares of the company’s stock, valued at $2,110,590.40. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard John Burns sold 789 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total transaction of $104,779.20. Following the completion of the transaction, the insider now directly owns 21,864 shares of the company’s stock, valued at approximately $2,903,539.20. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,494 shares of company stock worth $596,803. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teradyne

A number of hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama boosted its stake in Teradyne by 4.1% during the 3rd quarter. Retirement Systems of Alabama now owns 35,836 shares of the company’s stock valued at $4,800,000 after acquiring an additional 1,399 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Teradyne by 30.5% during the third quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock worth $11,878,000 after purchasing an additional 20,762 shares during the last quarter. Tidal Investments LLC grew its stake in Teradyne by 61.6% in the third quarter. Tidal Investments LLC now owns 18,197 shares of the company’s stock worth $2,437,000 after purchasing an additional 6,933 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Teradyne in the third quarter worth about $81,000. Finally, Anchor Investment Management LLC bought a new stake in Teradyne in the third quarter valued at about $95,000. Institutional investors and hedge funds own 99.77% of the company’s stock.

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.