Northland Securities Upgrades Teradyne (NASDAQ:TER) to Outperform

Teradyne (NASDAQ:TER) was upgraded by stock analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a $154.00 price objective on the stock, up from their previous price objective of $117.00. Northland Securities’ price target suggests a potential upside of 10.94% from the company’s previous close.

Several other research firms have also recently issued reports on TER. Robert W. Baird reduced their target price on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Craig Hallum reduced their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. JPMorgan Chase & Co. raised shares of Teradyne from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $158.00 in a research note on Monday, December 16th. Finally, Stifel Nicolaus decreased their price target on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Three research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.33.

Teradyne Stock Performance

TER stock opened at $138.82 on Monday. The firm has a market cap of $22.61 billion, a P/E ratio of 44.07, a P/E/G ratio of 2.66 and a beta of 1.46. The firm’s fifty day moving average is $116.79 and its 200 day moving average is $127.64. Teradyne has a 52 week low of $92.29 and a 52 week 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. The company had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. Teradyne’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. As a group, analysts forecast that Teradyne will post 3.17 EPS for the current year.

Teradyne announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the transaction, the chief executive officer now directly owns 74,660 shares of the company’s stock, valued at $9,705,800. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Teradyne by 2.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 15,196 shares of the company’s stock valued at $2,254,000 after buying an additional 343 shares in the last quarter. TD Asset Management Inc grew its stake in Teradyne by 5.7% during the second quarter. TD Asset Management Inc now owns 67,307 shares of the company’s stock valued at $9,981,000 after acquiring an additional 3,624 shares in the last quarter. National Bank of Canada FI increased its holdings in Teradyne by 16.1% in the 2nd quarter. National Bank of Canada FI now owns 66,903 shares of the company’s stock valued at $9,872,000 after acquiring an additional 9,298 shares during the last quarter. Private Advisor Group LLC lifted its stake in Teradyne by 3.2% in the 2nd quarter. Private Advisor Group LLC now owns 6,110 shares of the company’s stock worth $906,000 after purchasing an additional 190 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Teradyne during the 2nd quarter valued at about $977,000. Institutional investors own 99.77% of the company’s stock.

Teradyne Company Profile

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.