Teradyne price target lowered to $87 from $97 at Northland

Northland analyst Gus Richard lowered the firm’s price target on Teradyne to $87 from $97 and keeps a Market Perform rating on the shares. The company’s Semiconductor Test business is being challenged by low tester utilization rates, weak PC and cellphone demand, says the firm, which cut its estimates and target following Teradyne’s Q1 report.