Bank of America Lowers Teradyne (NASDAQ:TER) Price Target to $85.00

Teradyne (NASDAQ:TER) had its price target decreased by analysts at Bank of America from $100.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price target indicates a potential downside of 2.38% from the stock’s previous close.

TER has been the subject of a number of other research reports. TD Cowen dropped their target price on Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley lowered shares of Teradyne from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $121.00 to $117.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price 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. KeyCorp cut their price target on shares of Teradyne from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Teradyne in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.50.

Teradyne Stock Down 17.1 %

Shares of Teradyne stock opened at $87.07 on Wednesday. The stock’s 50-day simple moving average is $120.09 and its 200-day simple moving average is $121.19. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.83 and a beta of 1.46. Teradyne has a 52 week low of $82.98 and a 52 week high of $163.21.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, January 29th. The company reported $0.95 EPS for the quarter, topping 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 analysts expect that Teradyne will post 3.88 earnings per share for the current year.

Insider Transactions at Teradyne

In related news, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the sale, the chief executive officer now directly owns 74,660 shares in the company, valued at $9,705,800. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Mehta sold 1,789 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $120.51, for a total transaction of $215,592.39. Following the transaction, the chief financial officer now owns 33,308 shares in the company, 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 sold 8,479 shares of company stock valued at $1,013,134 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Teradyne

Several large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Teradyne during the third quarter worth about $2,221,000. Van ECK Associates Corp lifted its stake in Teradyne by 59.9% during the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock valued at $620,552,000 after acquiring an additional 1,846,079 shares during the period. Cerity Partners LLC boosted its holdings in shares of Teradyne by 87.1% in the 3rd quarter. Cerity Partners LLC now owns 11,371 shares of the company’s stock valued at $1,523,000 after acquiring an additional 5,294 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Teradyne by 17.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock worth $10,325,000 after acquiring an additional 11,541 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Teradyne by 30.5% during the third quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock worth $11,878,000 after purchasing an additional 20,762 shares during the last quarter. 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.