Citigroup Cuts Teradyne (NASDAQ:TER) Price Target to $100.00

Teradyne (NASDAQ:TER) had its price objective lowered by investment analysts at Citigroup from $130.00 to $100.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 15.23% from the stock’s previous close.

Other research analysts also recently issued reports about the company. UBS Group set a $130.00 price objective on Teradyne and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald cut their price target on Teradyne from $150.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday. KeyCorp decreased their price objective on Teradyne from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Teradyne from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Susquehanna reduced their price target on shares of Teradyne from $165.00 to $155.00 and set a “positive” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.13.

Teradyne Trading Down 0.3 %

Shares of NASDAQ TER traded down $0.29 during mid-day trading on Wednesday, reaching $86.78. The company had a trading volume of 4,507,828 shares, compared to its average volume of 2,935,920. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth 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. The business’s 50-day moving average is $120.09 and its 200-day moving average is $121.19.

Teradyne (NASDAQ:TER) last issued 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 net margin of 19.23% and a return on equity of 19.08%. As a group, equities research analysts forecast that Teradyne will post 3.88 earnings per share for the current year.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $130.00, for a total transaction 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 approximately $9,705,800. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Mehta sold 614 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $102.00, for a total value of $62,628.00. Following the completion of the transaction, the chief financial officer now directly owns 30,446 shares in the company, valued at approximately $3,105,492. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,479 shares of company stock valued at $1,013,134 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Teradyne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TER. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Teradyne in the third quarter valued at approximately $2,221,000. Van ECK Associates Corp increased its stake in shares of Teradyne by 59.9% in the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after acquiring an additional 1,846,079 shares during the period. Cerity Partners LLC raised its holdings in shares of 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 during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Teradyne by 17.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock valued at $10,325,000 after purchasing an additional 11,541 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Teradyne by 30.5% in the third quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock valued at $11,878,000 after purchasing an additional 20,762 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

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.