Teradyne (TER) Soars 18.8% on Bullish Outlook

We recently published 10 Stocks With Shocking Surges. Teradyne, Inc. (NASDAQ:TER) is one of the best-performing stocks on Wednesday.

Teradyne saw its share prices jump by 18.88 percent on Wednesday to close at $107.65 apiece as investors took path from an investment firm’s bullish outlook for the company.

In a market note, Cantor Fitzgerald maintained its “overweight” rating for Teradyne, Inc. (NASDAQ:TER) with a price target of $105, marking a 15.9-percent upside from its $90.55 closing price on Tuesday.

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According to the investment firm, Teradyne, Inc. (NASDAQ:TER) could benefit from the strong demand in AI-related semiconductor test markets, including compute, networking, and memory segments.

In other news, Teradyne, Inc. (NASDAQ:TER) announced dismal earnings performance in the second quarter of the year, with net income diving by 58 percent to $78 million from $186 million in the same period last year.

Net revenues also declined by 10 percent to $651.2 million from $729.9 million.

For the six-month period, net income dwindled by 29.2 percent to $177 million from $250 million, while revenues ended flat at $1.3 billion.