Benzinga | Oct 15, 2021 12:54PM EDT

Piper Sandler Sees 22% Upside In This Semiconductor Company

* Piper Sandler analyst Weston Twigg initiated coverage of Teradyne Inc (NASDAQ:TER) with an Overweight rating and a $137 price target, implying a 21.54% upside.

* The analyst believes Teradyne will achieve "high growth" in its robotics segment while generating high margins and moderate growth in its core automated test segments.

* While robotics revenue is only 10% of total), industrial automation tailwinds will make Teradyne an "attractive focus for investors as the segment expands," Twigg notes.

* Teradyne Inc designs, develops and manufactures automatic test systems for semiconductors, wireless products, data storage, and electronic systems in the wireless, automotive, industrial, communications, aerospace, and defense industries.

* Price Action: TER shares traded higher by 0.75% at $113.57 in the market session on the last check Friday.