JPMorgan Chase & Co. Upgrades Teradyne (NASDAQ:TER) to “Overweight”

Teradyne (NASDAQ:TER) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $158.00 price target on the stock, up from their prior price target of $145.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.23% from the company’s current price.

TER has been the topic of several other reports. Evercore ISI boosted their price objective on shares of Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. Craig Hallum decreased their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Stifel Nicolaus decreased their price objective on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird cut their price objective on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Teradyne currently has an average rating of “Moderate Buy” and an average price target of $147.25.

Teradyne Stock Performance

Shares of TER opened at $123.22 on Monday. The stock has a fifty day moving average price of $115.18 and a two-hundred day moving average price of $129.55. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 2.66 and a beta of 1.51. Teradyne has a 52-week low of $92.29 and a 52-week high of $163.21.

Teradyne (NASDAQ:TER) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $737.30 million for the quarter, compared to analyst estimates of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. As a group, research analysts predict that Teradyne will post 3.17 EPS for the current fiscal year.

Teradyne declared that its Board of Directors has initiated a stock buyback plan on Monday, November 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Teradyne news, Director Mercedes Johnson sold 625 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total value of $83,000.00. Following the sale, the director now owns 15,893 shares in the company, valued at $2,110,590.40. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard John Burns sold 789 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $104,779.20. Following the sale, the insider now owns 21,864 shares in the company, valued at $2,903,539.20. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,494 shares of company stock worth $596,803 in the last ninety days. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Teradyne

Several institutional investors and hedge funds have recently added to or reduced their stakes in TER. Alkeon Capital Management LLC boosted its holdings in Teradyne by 189.6% in the third quarter. Alkeon Capital Management LLC now owns 1,144,017 shares of the company’s stock valued at $153,218,000 after acquiring an additional 749,003 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Teradyne in the 3rd quarter valued at $91,129,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Teradyne by 18.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock worth $325,814,000 after buying an additional 374,522 shares during the period. State Street Corp raised its stake in Teradyne by 5.4% during the third quarter. State Street Corp now owns 6,880,148 shares of the company’s stock worth $921,458,000 after buying an additional 350,002 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Teradyne by 70.8% in the third quarter. Eagle Asset Management Inc. now owns 742,207 shares of the company’s stock valued at $99,404,000 after buying an additional 307,724 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

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.