Citi Previews Earnings for Teradyne

Citigroup has published a report on Teradyne

previewing second quarter earnings. In the report, Citigroup wrote, "FQ2:11 (Jun) results — Modeling FQ2 (June) orders ~$370MM (-15% Q/Q), lower than previous expectation given the slowdown in overall ATE spending due to high IC inventory, soft end-market demand, and weakness in key end-markets such as consumer and automotive. With light orders, we expect FQ2 revs/EPS at $390MM/$0.41, only in line with its guidance and Street's $392MM/$0.41 consensus." Citigroup rated Teradyne a High Risk BUY with a price target of $24.00. Teradyne closed Tuesday at $14.37.