Teradyne (NASDAQ:TER) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Teradyne (NASDAQ:TER) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also commented on the stock. Zacks Research upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $465.00 price target on shares of Teradyne in a report on Tuesday, July 28th. Morgan Stanley boosted their price objective on Teradyne from $387.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings raised Teradyne from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Finally, Susquehanna raised their target price on Teradyne from $415.00 to $550.00 and gave the company a “positive” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Teradyne currently has an average rating of “Moderate Buy” and a consensus price target of $396.80.

Teradyne Stock Down 1.4%

Shares of NASDAQ TER opened at $349.83 on Friday. The firm’s 50-day moving average price is $378.22 and its two-hundred day moving average price is $357.57. Teradyne has a 52-week low of $109.56 and a 52-week high of $487.91. The stock has a market capitalization of $54.69 billion, a P/E ratio of 47.99, a P/E/G ratio of 0.72 and a beta of 1.78.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 103.9% on a year-over-year basis. As a group, equities research analysts expect that Teradyne will post 9.1 earnings per share for the current year.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 4th. Teradyne’s dividend payout ratio is currently 7.13%.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the transaction, the chief executive officer owned 112,495 shares in the company, valued at $47,810,375. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teradyne

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Teradyne during the fourth quarter worth about $28,000. Community Financial Services Group LLC bought a new position in shares of Teradyne during the 2nd quarter valued at about $29,000. McIlrath & Eck LLC acquired a new position in shares of Teradyne in the 1st quarter worth approximately $30,000. Elevation Wealth Partners LLC grew its stake in shares of Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after purchasing an additional 66 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Teradyne in the 2nd quarter worth approximately $35,000. 99.77% of the stock is currently owned by institutional investors and hedge funds.

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.