Teradyne gains after D.A. Davidson upgrades to 'buy' rating

Whats Cooking NV

07/10/2021 13:32

** D.A. Davidson upgrades shares of semiconductor testing
equipment maker  TER.O  to "buy" while raising PT to $140
    ** Shares up 2.8% at $112.1 premarket
    ** With Industrial Automation (IA) gaining momentum as
global economic activity returns, it would drive more than 50% 
of co's incremental growth - brokerage
    ** "TER's leading IA products are just scratching the
surface of the $435 bln market that could provide co with a
decade of solid growth," added Davidson
    ** Brokerage also expects TER's semiconductor testing
business to be strong over the next few years helped by ramp up
in 5G technology and rise of Arm-based microprocessors for
computers
    ** Increases in chip complexity would require longer test
times, and thus, more Automatic test equipment (ATE) testers,
benefiting TER further - brokerage
    ** 13 of 19 brokerages rate the stock "buy" or higher, 5
"hold" and 1 "sell"; their median PT is $150 - Refinitiv
    ** Shares down over 9% this year as of its last close

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))