On July 21, Teradyne rose 9.28% in regular trading, trading at $363.77/share, with turnover of $153 million. The surge was driven by UBS raising its price target on Teradyne from $440 to $500 while maintaining a Buy rating, marking the third major investment bank to lift its target in recent weeks.
JPMorgan raised its target from $400 to $450 on July 16 with an Overweight rating, while Goldman Sachs raised its target from $350 to $465 on July 6. Earlier, Susquehanna had adjusted its target to $550 from $415 in late June. The consensus average target now stands at approximately $437.53 according to FactSet. The wave of institutional upgrades has significantly bolstered market confidence in Teradyne ahead of its Q2 earnings report scheduled for July 28, with expected EPS of $2.04.
The broader semiconductor equipment sector rallied in tandem, with Aehr Test up 17.15%, Applied Materials up 6.36%, KLA-Tencor up 3.88%, Lam Research up 3.46%, and ASML up 3.36%.
(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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