Northland Capmk Upgrades Teradyne (NASDAQ:TER) to Strong-Buy

Teradyne (NASDAQ:TER) was upgraded by stock analysts at Northland Capmk from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Northland Securities upgraded shares of Teradyne from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $117.00 to $154.00 in a report on Monday. Stifel Nicolaus lowered their price objective 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. Craig Hallum reduced 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. Robert W. Baird decreased their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $158.00 in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.33.

Teradyne Price Performance

TER stock opened at $138.82 on Monday. The firm has a market cap of $22.61 billion, a PE ratio of 44.07, a P/E/G ratio of 2.66 and a beta of 1.46. The firm has a 50 day simple moving average of $116.79 and a 200 day simple moving average of $127.64. Teradyne has a 12 month low of $92.29 and a 12 month high of $163.21.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) 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 company had revenue of $737.30 million for the quarter, compared to the consensus estimate of $716.40 million. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts expect that Teradyne will post 3.17 earnings per share for the current year.

Teradyne announced that its Board of Directors has approved a share repurchase plan on Monday, November 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Teradyne

In related news, CEO Gregory Stephen Smith sold 3,080 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the completion of the transaction, the chief executive officer now directly owns 74,660 shares of the company’s stock, valued at approximately $9,705,800. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Teradyne

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB raised its holdings in Teradyne by 4.3% in the 4th quarter. Nordea Investment Management AB now owns 1,522,492 shares of the company’s stock valued at $194,407,000 after acquiring an additional 63,218 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Teradyne during the 4th quarter worth $317,000. GAMMA Investing LLC grew its stake in Teradyne by 3.1% during the fourth quarter. GAMMA Investing LLC now owns 3,445 shares of the company’s stock worth $434,000 after buying an additional 105 shares in the last quarter. Versant Capital Management Inc increased its stake in Teradyne by 103.6% in the fourth quarter. Versant Capital Management Inc now owns 729 shares of the company’s stock valued at $92,000 after acquiring an additional 371 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Teradyne by 4.1% in the 3rd quarter. Retirement Systems of Alabama now owns 35,836 shares of the company’s stock valued at $4,800,000 after purchasing an additional 1,399 shares during 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.