Teradyne (NASDAQ:TER) Price Target Cut to $85.00 by Analysts at Bank of America

Teradyne (NASDAQ:TER) had its price target reduced by Bank of America from $100.00 to $85.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

TER has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Teradyne from $158.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Teradyne in a report on Thursday, January 30th. TD Cowen cut their target price on shares of Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday. Northland Capmk upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Northland Securities cut their target price on shares of Teradyne from $154.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Teradyne presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.13.

Teradyne Stock Down 0.4 %

Shares of NASDAQ TER opened at $86.74 on Wednesday. The firm’s 50-day moving average price is $119.30 and its 200-day moving average price is $120.95. Teradyne has a 52-week low of $82.98 and a 52-week high of $163.21. The company has a market cap of $14.03 billion, a PE ratio of 26.05, a PEG ratio of 2.83 and a beta of 1.46.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. As a group, equities research analysts anticipate that Teradyne will post 3.88 EPS for the current fiscal year.

Teradyne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. Teradyne’s payout ratio is currently 14.41%.

Insiders Place Their Bets

In related news, CFO Sanjay Mehta sold 1,384 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total transaction of $154,302.16. Following the completion of the transaction, the chief financial officer now owns 36,576 shares in the company, valued at approximately $4,077,858.24. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 74,660 shares of the company’s stock, valued at approximately $9,705,800. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,479 shares of company stock worth $1,013,134 over the last three months. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teradyne

Several hedge funds and other institutional investors have recently made changes to their positions in TER. Venturi Wealth Management LLC raised its stake in shares of Teradyne by 33.6% in the third quarter. Venturi Wealth Management LLC now owns 3,275 shares of the company’s stock valued at $439,000 after acquiring an additional 823 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Teradyne by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 2,362 shares of the company’s stock worth $316,000 after purchasing an additional 159 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Teradyne in the third quarter worth about $647,000. Victory Capital Management Inc. grew its holdings in shares of Teradyne by 6.8% in the third quarter. Victory Capital Management Inc. now owns 89,431 shares of the company’s stock worth $11,977,000 after purchasing an additional 5,686 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Teradyne in the third quarter worth about $222,000. Hedge funds and other 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.