Teradyne (NASDAQ:TER) Rating Increased to Overweight at JPMorgan Chase & Co.

Teradyne (NASDAQ:TER) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm presently has a $158.00 target price on the stock, up from their prior target price of $145.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.43% from the stock’s previous close.

Several other equities analysts also recently commented on TER. Evercore ISI increased their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird cut their price objective on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. Northland Securities dropped their price target on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Finally, Craig Hallum decreased their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a 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. Based on data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and an average price target of $147.25.

Teradyne Price Performance

Shares of Teradyne stock opened at $128.01 on Monday. The firm has a market cap of $20.85 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 2.66 and a beta of 1.51. The stock has a 50-day simple moving average of $115.15 and a 200-day simple moving average of $129.38. Teradyne has a 52-week low of $92.29 and a 52-week high of $163.21.

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

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

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $409,024.00. Following the completion of the sale, the chief executive officer now owns 80,736 shares in the company, valued at approximately $10,721,740.80. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mercedes Johnson sold 625 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total value of $83,000.00. Following the completion of the sale, the director now directly owns 15,893 shares of the company’s stock, valued at approximately $2,110,590.40. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,494 shares of company stock worth $596,803 over the last three months. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teradyne

Hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Teradyne by 5.4% in the third quarter. State Street Corp now owns 6,880,148 shares of the company’s stock valued at $921,458,000 after purchasing an additional 350,002 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Teradyne by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock worth $682,597,000 after acquiring an additional 57,989 shares during the last quarter. Geode Capital Management LLC raised its stake in Teradyne by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,011,131 shares of the company’s stock valued at $535,484,000 after acquiring an additional 209,868 shares during the period. Van ECK Associates Corp lifted its holdings in Teradyne by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock valued at $383,501,000 after purchasing an additional 183,721 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Teradyne by 18.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock valued at $325,814,000 after purchasing an additional 374,522 shares during the last quarter. 99.77% of the stock is currently 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.