Teradyne (NASDAQ:TER) Coverage Initiated at Vertical Research

Analysts at Vertical Research initiated coverage on shares of Teradyne (NASDAQ:TER) in a report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $135.00 price target on the stock. Vertical Research’s price target would suggest a potential upside of 24.38% from the stock’s previous close.

TER has been the subject of a number of other reports. Susquehanna upped their price target on Teradyne from $145.00 to $165.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Teradyne in a report on Thursday, January 30th. KeyCorp lowered their price target on shares of Teradyne from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of Teradyne from $158.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Northland Capmk raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.14.

Teradyne Price Performance

Teradyne stock opened at $108.54 on Friday. The stock has a fifty day moving average price of $121.30 and a two-hundred day moving average price of $121.81. Teradyne has a 52-week low of $95.80 and a 52-week high of $163.21. The firm has a market capitalization of $17.55 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.83 and a beta of 1.46.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, January 29th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. On average, equities research analysts predict that Teradyne will post 3.88 EPS for the current fiscal year.

Teradyne declared that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $130.00, for a total transaction of $400,400.00. Following the completion of the sale, the chief executive officer now owns 74,660 shares of the company’s stock, valued at $9,705,800. This represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Mehta sold 1,789 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $120.51, for a total transaction of $215,592.39. Following the sale, the chief financial officer now directly owns 33,308 shares of the company’s stock, valued at $4,013,947.08. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,479 shares of company stock worth $1,013,134 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Teradyne by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 20,405,899 shares of the company’s stock worth $2,569,511,000 after purchasing an additional 92,428 shares during the period. State Street Corp increased its stake in Teradyne by 5.4% in the third quarter. State Street Corp now owns 6,880,148 shares of the company’s stock worth $921,458,000 after purchasing an additional 350,002 shares during the period. Van ECK Associates Corp increased its stake in Teradyne by 59.9% in the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after purchasing an additional 1,846,079 shares during the period. Ameriprise Financial Inc. grew its position in shares of Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock worth $608,025,000 after buying an additional 1,065,474 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Teradyne by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company’s stock worth $515,665,000 after buying an additional 94,374 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

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.