Bank of America Begins Coverage on Teradyne (TER)

Bank of America initiated coverage on shares of Teradyne (NYSE:TER) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $58.00 target price on the semiconductor company’s stock.

Several other research firms have also recently weighed in on TER. Stifel Nicolaus increased their price objective on shares of Teradyne from $46.00 to $54.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Teradyne from a hold rating to a buy rating and set a $53.00 price objective for the company in a research report on Monday, January 29th. Citigroup increased their price objective on shares of Teradyne from $48.00 to $54.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. ValuEngine upgraded shares of Teradyne from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, Needham & Company LLC increased their price objective on shares of Teradyne from $47.00 to $52.00 and gave the stock a buy rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Teradyne currently has a consensus rating of Buy and a consensus price target of $48.83.

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TER stock opened at $45.65 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.00 and a quick ratio of 4.76. Teradyne has a 12-month low of $29.68 and a 12-month high of $50.68. The stock has a market cap of $9,325.57, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 1.36 and a beta of 1.11.

Teradyne (NYSE:TER) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.12. Teradyne had a net margin of 12.06% and a return on equity of 23.37%. The firm had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $438.85 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 26.1% on a year-over-year basis. equities research analysts predict that Teradyne will post 2.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, February 23rd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.79%. This is a boost from Teradyne’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, February 22nd. Teradyne’s dividend payout ratio (DPR) is presently 28.35%.

Teradyne announced that its board has approved a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

In other Teradyne news, insider Mark E. Jagiela sold 30,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.96, for a total value of $1,348,800.00. Following the completion of the sale, the insider now directly owns 244,516 shares in the company, valued at $10,993,439.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles Jeffrey Gray sold 5,040 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $238,140.00. Following the completion of the sale, the vice president now owns 31,593 shares of the company’s stock, valued at $1,492,769.25. The disclosure for this sale can be found here. Insiders sold 146,009 shares of company stock valued at $6,731,077 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

A number of large investors have recently bought and sold shares of TER. Janney Montgomery Scott LLC lifted its stake in shares of Teradyne by 192.6% in the third quarter. Janney Montgomery Scott LLC now owns 60,254 shares of the semiconductor company’s stock valued at $2,247,000 after buying an additional 39,659 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Teradyne by 21.2% in the third quarter. Pacer Advisors Inc. now owns 34,685 shares of the semiconductor company’s stock valued at $1,293,000 after buying an additional 6,058 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Teradyne by 78.7% in the third quarter. Van ECK Associates Corp now owns 340,488 shares of the semiconductor company’s stock valued at $12,697,000 after buying an additional 149,914 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Teradyne by 109.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 576,453 shares of the semiconductor company’s stock valued at $24,136,000 after buying an additional 301,753 shares in the last quarter. Finally, Carillon Tower Advisers Inc. bought a new position in shares of Teradyne in the fourth quarter valued at $28,741,000. Institutional investors and hedge funds own 98.56% of the company’s stock.

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Teradyne Company Profile

Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.

Analyst Recommendations for Teradyne (NYSE:TER)

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