Teradyne (NASDAQ:TER) Given New $155.00 Price Target at UBS Group

Teradyne (NASDAQ:TER) had its price objective lowered by equities researchers at UBS Group from $160.00 to $155.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 33.59% from the stock’s current price.

A number of other analysts have also recently commented on the company. Stifel Nicolaus reduced their price objective on Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Northland Capmk upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Evercore ISI increased their price target on Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Finally, Morgan Stanley lowered Teradyne from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $121.00 to $117.00 in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.77.

Teradyne Stock Performance

Shares of NASDAQ:TER traded up $0.95 during midday trading on Friday, reaching $116.03. 2,050,101 shares of the company’s stock traded hands, compared to its average volume of 2,817,162. The company has a market cap of $18.90 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 2.04 and a beta of 1.46. Teradyne has a one year low of $92.29 and a one year high of $163.21. The stock has a 50 day moving average of $125.22 and a 200 day moving average of $125.64.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Teradyne had a return on equity of 19.23% and a net margin of 19.23%. Sell-side analysts predict that Teradyne will post 4.1 EPS for the current fiscal year.

Teradyne declared that its board has approved a stock repurchase program on Monday, November 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Sanjay Mehta sold 1,789 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $120.51, for a total transaction of $215,592.39. Following the transaction, the chief financial officer now directly owns 33,308 shares of the company’s stock, valued at $4,013,947.08. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard John Burns sold 407 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $120.51, for a total value of $49,047.57. Following the transaction, the insider now directly owns 20,764 shares in the company, valued at $2,502,269.64. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,383 shares of company stock worth $677,935 in the last ninety days. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TER. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Teradyne in the third quarter worth about $2,221,000. Cerity Partners LLC boosted its position in Teradyne by 87.1% during the third quarter. Cerity Partners LLC now owns 11,371 shares of the company’s stock worth $1,523,000 after purchasing an additional 5,294 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Teradyne by 17.6% during 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 last quarter. Franklin Resources Inc. increased its stake in 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 acquiring an additional 20,762 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Teradyne during the third quarter worth $806,000. 99.77% of the stock is owned by institutional investors and hedge funds.

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.