Teradyne (NASDAQ:TER) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Teradyne (NASDAQ:TER) from a neutral rating to an overweight rating in a research report report published on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $158.00 price objective on the stock, up from their prior price objective of $145.00.

A number of other research firms have also recently issued reports on TER. Evercore ISI lifted their target price on shares of Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Craig Hallum cut their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Robert W. Baird cut their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Northland Securities decreased their price objective on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.25.

Teradyne Trading Up 5.1 %

TER opened at $129.48 on Monday. The stock’s 50 day simple moving average is $115.18 and its 200-day simple moving average is $129.47. The stock has a market cap of $21.09 billion, a PE ratio of 41.10, a P/E/G ratio of 2.66 and a beta of 1.51. Teradyne has a 1 year low of $92.29 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, beating 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 business had revenue of $737.30 million for the quarter, compared to analyst estimates of $716.40 million. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that Teradyne will post 3.17 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, November 25th. Teradyne’s payout ratio is presently 15.24%.

Teradyne declared that its board has authorized a share repurchase plan on Monday, November 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Teradyne

In other Teradyne news, insider Richard John Burns sold 789 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 21,864 shares in the company, valued at $2,903,539.20. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $83,000.00. Following the sale, the director now directly owns 15,893 shares of the company’s stock, valued at approximately $2,110,590.40. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,494 shares of company stock valued at $596,803. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Teradyne

A number of hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Teradyne in the 2nd quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in Teradyne during the third quarter valued at approximately $29,000. Rothschild Investment LLC acquired a new position in Teradyne during the second quarter valued at approximately $33,000. Quarry LP boosted its holdings in shares of Teradyne by 256.1% in the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock valued at $35,000 after purchasing an additional 169 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Teradyne by 76.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 273 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Institutional investors 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.