Teradyne, Inc. (TER - Free Report) announced the appointment of Sanjay Mehta as new Vice President and chief financial officer (CFO). Mr. Mehta will take up his duties later this month.
Heis replacing the company’s previous CFO, Gregory Beecher, who announced his resignation earlier this year. He will be reporting directly to Teradyne’s chief executive officer, Mark Jagiela.
Backed by his experience in the areas of finance and semiconductor industry, Mr. Mehta will lead Teradyne’s global finance, operations and information technology organizations. Therefore, he will be responsible for the company’s growth.
Notably, Mehta had been working with Qualcomm, wherein he served for almost five years in a number of finance and strategic roles across the company. Most recently, he was Senior Vice President and General Manager of the Compute and XR Business. He first started his career at Price Waterhouse Canada.
With his vast knowhow and expertise, we expect Mehta’s expert guidance to aid the company in scaling new heights.
Teradyne is leaving no stone unturned to expand its presence in the automated test equipment market. It should continue to benefit from memory market exposure and strong product lineup. Also, the company’s lean cost structure and strong balance sheet remain positives.
Management expects strong demand in core test businesses in the first quarter of 2019. Given the popularity of its products, Universal Robots acquisition and continuous design wins, we are optimistic about Teradyne’s performance in the long run.
However, weakness in the wireless test market could be a near-term concern. Teradyne is expected to report first-quarter earnings on Apr 23.
Zacks Rank & Stocks to Consider
Teradyne currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Expedia Group, Inc. (EXPE - Free Report) , Ctrip.com International, Ltd. (CTRP - Free Report) and ASOS plc (ASOMY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Expedia, Ctrip.com and ASOS is currently projected at 13.4%, 23% and 8%, respectively.
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