Teradyne (NASDAQ:TER) Shares Gap Up on Better-Than-Expected Earnings

Teradyne, Inc. (NASDAQ:TER)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $100.70, but opened at $107.42. Teradyne shares last traded at $108.78, with a volume of 2,109,951 shares traded.

The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. Teradyne had a return on equity of 19.45% and a net margin of 16.77%. The firm had revenue of $599.82 million for the quarter, compared to analysts’ expectations of $566.31 million. During the same period last year, the firm earned $0.55 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis.

Analysts Set New Price Targets

TER has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Teradyne from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Evercore ISI initiated coverage on Teradyne in a report on Tuesday, April 16th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price objective on shares of Teradyne in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.73.

Insiders Place Their Bets

In other Teradyne news, CFO Sanjay Mehta sold 8,653 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $105.10, for a total value of $909,430.30. Following the transaction, the chief financial officer now directly owns 31,180 shares of the company’s stock, valued at approximately $3,277,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Richard John Burns sold 1,744 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $104.89, for a total transaction of $182,928.16. Following the sale, the insider now owns 16,734 shares of the company’s stock, valued at approximately $1,755,229.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sanjay Mehta sold 8,653 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $105.10, for a total transaction of $909,430.30. Following the sale, the chief financial officer now directly owns 31,180 shares in the company, valued at approximately $3,277,018. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Teradyne

Several institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC purchased a new stake in shares of Teradyne during the 1st quarter valued at approximately $962,000. Bfsg LLC acquired a new stake in Teradyne in the 1st quarter valued at approximately $34,000. United Asset Strategies Inc. increased its holdings in Teradyne by 0.6% in the 1st quarter. United Asset Strategies Inc. now owns 127,935 shares of the company’s stock valued at $14,435,000 after purchasing an additional 761 shares during the last quarter. Fifth Third Bancorp increased its holdings in Teradyne by 4.4% in the 1st quarter. Fifth Third Bancorp now owns 11,035 shares of the company’s stock valued at $1,245,000 after purchasing an additional 461 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Teradyne by 15.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,768 shares of the company’s stock valued at $1,215,000 after purchasing an additional 1,438 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Trading Up 8.0 %

The company’s fifty day moving average is $105.25 and its two-hundred day moving average is $100.37. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 39.86 and a beta of 1.56.

Teradyne Company Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.