Teradyne (TER): Semicon West Could Be A POSITIVE Catalyst - Citi

Citi analyst, Atif Malik, reiterated his Buy rating on shares of Teradyne (NYSE: TER) ahead of Semicon West
which will be held in San Francisco from July 10-12. The analyst believes management tone will be much stronger considering the low exposure to China and the analyst's belief that Apple (22% of sales) has been de-risked.

The analyst believes they will discuss solid automation demand and overall industry health. He stated "May billings data showed TER’s Jun-Q is tracking better vs Streetexpectations with back-end billings +37% QTD vs TER +4% Q/Q Jun-Q revenue guide and Citi semi test +2% Q/Q model with strength likely driven by memory, image sensor, and industrial/auto end markets, in our view".

No change to the price target of $45.

For an analyst ratings summary and ratings history on Teradyne click here. For more ratings news on Teradyne click here.

Shares of Teradyne closed at $38.31 yesterday.

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