UPDATE: Craig-Hallum Upgrades Teradyne (TER) to Buy, Sees Front End, Back End 1-2 Punch
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(Updated - October 28, 2021 9:32 AM EDT)
Craig-Hallum analyst Christian Schwab upgraded Teradyne (NASDAQ: TER) from Hold to Buy with a price target of $138.00.after the company reported better than expected results on core semi-test continuing to execute well. This led management to increase guidance as well as outperform.
The analyst stated "The current high levels of front end WFE semiconductor capital equipment spend should also be a tailwind as management highlights this front-end capacity should lead to inevitable back-end test demand. Test capacity is typically installed roughly one quarter prior to volume wafer output at a fab. In addition, the most complex devices, with higher transistor counts (i.e. higher test requirements), are increasingly expanding from a historic focus on the mobility market to being used in more broad compute applications".
Shares of Teradyne closed at $123.07 yesterday.
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