Bank of America Boosts Teradyne (NASDAQ:TER) Price Target to $260.00

Teradyne (NASDAQ:TER) had its target price increased by stock analysts at Bank of America from $250.00 to $260.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 12.12% from the stock’s current price.

A number of other equities research analysts have also issued reports on TER. JPMorgan Chase & Co. raised their price target on Teradyne from $122.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Citigroup raised their target price on shares of Teradyne from $117.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. UBS Group increased their price target on Teradyne from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Evercore ISI boosted their price target on shares of Teradyne from $120.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Northland Securities set a $186.00 price objective on shares of Teradyne in a report on Thursday, October 30th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.06.

Teradyne Stock Performance

Shares of Teradyne stock opened at $231.89 on Thursday. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 84.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.84. The stock has a 50 day moving average price of $197.25 and a 200-day moving average price of $150.48. Teradyne has a one year low of $65.77 and a one year high of $238.92.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $769.21 million during the quarter, compared to the consensus estimate of $744.20 million. Teradyne had a return on equity of 18.04% and a net margin of 15.49%.Teradyne’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Sell-side analysts predict that Teradyne will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 1,108 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $201.31, for a total value of $223,051.48. Following the completion of the transaction, the chief executive officer directly owned 93,409 shares of the company’s stock, valued at $18,804,165.79. This trade represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Teradyne

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Teradyne by 13,949.4% in the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after purchasing an additional 2,022,389 shares during the last quarter. Norges Bank acquired a new position in Teradyne in the 2nd quarter worth approximately $152,854,000. Federated Hermes Inc. increased its holdings in Teradyne by 79.7% in the 2nd quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock worth $340,353,000 after buying an additional 1,679,215 shares during the period. Amundi raised its position in Teradyne by 255.3% during the 2nd quarter. Amundi now owns 1,812,001 shares of the company’s stock worth $170,654,000 after buying an additional 1,302,025 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in Teradyne by 58.6% during the 2nd quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company’s stock valued at $274,036,000 after acquiring an additional 1,125,868 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Company Profile

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.