Benzinga | Jul 27, 2020 11:28AM EDT

Why Teradyne's Stock Is Trading Higher Today

Teradyne (NASDAQ:TER) shares are trading higher on Monday amid strength in the tech sector. Citigroup analysts raised their price target on the stock from $72 to $89.50.

Teradyne designs, develops and manufactures automatic test systems for use in semiconductors, wireless products, data storage, and electronic systems in the wireless, automotive, industrial, communications, aerospace, and defense industries. The company operates in four business segments organized by end market: semiconductor test, system test, wireless test, and industrial automation.

Teradyne tests help improve and control product quality, measure performance, and increase yields. The firm generates revenue primarily in Taiwan, China, the United States, Japan, and South Korea, but has a presence in countries across the world.

Teradyne shares were up 4.09% at $86.95 during the time of publication on Monday. The stock has a 52-week range between $90.70 and $42.87.