Movement Alert|Teradyne Rises 4.65% in Pre-Market Trading, UBS Raises Target Price to $500 as Semiconductor Equipment Sector Rallies

Market Focus07-21 16:09

On July 21, Teradyne rose 4.65% in pre-market trading, trading at $350.0 USD/share, with turnover of $767,000.

On the news front, UBS raised its price target on Teradyne from $440 to $500 while maintaining a Buy rating, marking the third major investment bank to upgrade its target in recent weeks. Previously, JPMorgan raised its target from $400 to $450 on July 16, and Goldman Sachs lifted its target from $350 to $465 on July 6. Susquehanna had also raised its target to $550 from $415 in late June. The consensus mean price target from FactSet-polled analysts stands at approximately $437.53 with an average Overweight rating.

The semiconductor equipment sector rallied broadly, with Applied Materials up 4.97%, KLA-Tencor up 4.72%, Lam Research up 4.61%, and ASML up 2.68%. Teradyne is scheduled to report second-quarter earnings on July 28 after market close, with consensus EPS expectations at $2.04.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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