KeyCorp Cuts Teradyne (NASDAQ:TER) Price Target to $150.00

Teradyne (NASDAQ:TER - Free Report) had its target price decreased by KeyCorp from $180.00 to $150.00 in a report issued on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other brokerages have also commented on TER. 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. Craig Hallum reduced their price target on shares of Teradyne from $124.00 to $111.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. Morgan Stanley cut 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. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and increased their price target for the company from $145.00 to $158.00 in a report on Monday, December 16th. Finally, Northland Capmk raised Teradyne from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. 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 company's stock. According to data from MarketBeat.com, Teradyne has a consensus rating of "Moderate Buy" and an average price target of $143.77.

Teradyne Stock Performance

Shares of Teradyne stock traded up $0.58 on Friday, hitting $111.67. 2,225,144 shares of the company's stock were exchanged, compared to its average volume of 2,896,150. The company has a 50-day simple moving average of $125.38 and a 200-day simple moving average of $124.61. Teradyne has a 1 year low of $94.64 and a 1 year high of $163.21. The stock has a market capitalization of $18.19 billion, a PE ratio of 33.53, a PEG ratio of 2.67 and a beta of 1.46.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. On average, analysts expect that Teradyne will post 4.02 EPS for the current fiscal year.

Teradyne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 14th. Teradyne's dividend payout ratio is currently 14.41%.

Teradyne announced that its Board of Directors has authorized a share repurchase plan on Monday, November 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Teradyne

In related news, CFO Sanjay Mehta sold 1,789 shares of Teradyne stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $120.51, for a total value of $215,592.39. Following the completion of the sale, the chief financial officer now directly owns 33,308 shares in the company, valued at $4,013,947.08. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory Stephen Smith sold 3,080 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 74,660 shares in the company, valued at approximately $9,705,800. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,434 shares of company stock valued at $785,137 in the last three months. Company insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TER. Van ECK Associates Corp boosted its position in shares of Teradyne by 59.9% in the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock worth $620,552,000 after purchasing an additional 1,846,079 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Teradyne by 1,767.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 923,068 shares of the company's stock worth $116,233,000 after acquiring an additional 873,626 shares in the last quarter. Alkeon Capital Management LLC grew its stake in shares of Teradyne by 189.6% during the third quarter. Alkeon Capital Management LLC now owns 1,144,017 shares of the company's stock worth $153,218,000 after acquiring an additional 749,003 shares during the last quarter. Holocene Advisors LP acquired a new position in Teradyne during the 3rd quarter valued at approximately $91,129,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Teradyne by 16.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,825,897 shares of the company's stock worth $355,837,000 after acquiring an additional 393,175 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.