Teradyne (NASDAQ:TER) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Teradyne (NASDAQ:TER) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Morgan Stanley set a $387.00 target price on shares of Teradyne in a report on Thursday, April 30th. Evercore set a $370.00 price objective on Teradyne in a research note on Thursday, April 30th. The Goldman Sachs Group boosted their target price on Teradyne from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada set a $270.00 target price on shares of Teradyne in a report on Monday, February 2nd. Finally, Robert W. Baird set a $350.00 price objective on shares of Teradyne in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Teradyne currently has a consensus rating of “Moderate Buy” and an average target price of $339.80.

Teradyne Price Performance

Teradyne stock opened at $363.39 on Tuesday. Teradyne has a 12-month low of $75.99 and a 12-month high of $422.11. The stock has a market capitalization of $56.89 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 1.47 and a beta of 1.79. The firm has a 50 day simple moving average of $334.04 and a 200-day simple moving average of $261.55.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The firm’s quarterly revenue was up 87.0% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. On average, analysts forecast that Teradyne will post 7.09 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s payout ratio is currently 9.63%.

Insiders Place Their Bets

In other news, VP Ryan Driscoll sold 680 shares of Teradyne stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the transaction, the vice president owned 7,665 shares of the company’s stock, valued at $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Teradyne

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

About Teradyne

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.