Teradyne (NASDAQ:TER) Stock Price Up 7.7% – Here’s What Happened

Teradyne, Inc. (NASDAQ:TER)’s stock price traded up 7.7% during trading on Friday. The company traded as high as $446.79 and last traded at $447.9750. 1,357,233 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 3,563,139 shares. The stock had previously closed at $415.79.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TER shares. Evercore reissued an “outperform” rating and set a $420.00 price objective on shares of Teradyne in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $465.00 target price on shares of Teradyne in a research report on Tuesday, July 28th. Susquehanna increased their price target on Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a report on Tuesday, June 30th. Wall Street Zen cut Teradyne from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Bank of America boosted their price objective on Teradyne from $365.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Teradyne has an average rating of “Moderate Buy” and a consensus target price of $396.80.

Teradyne Stock Performance

The company has a market cap of $70.22 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 0.81 and a beta of 1.75. The stock’s fifty day moving average is $373.10 and its two-hundred day moving average is $367.34.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.38. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The company’s revenue for the quarter was up 103.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. On average, equities research analysts expect that Teradyne, Inc. will post 9.11 EPS for the current year.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 0.1%. Teradyne’s dividend payout ratio is 7.13%.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Smith sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $337.83, for a total transaction of $1,351,320.00. Following the transaction, the chief executive officer directly owned 108,495 shares in the company, valued at approximately $36,652,865.85. This trade represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Institutional Trading of Teradyne

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Teradyne in the 2nd quarter valued at $9,404,408,000. Andar Capital Management HK Ltd bought a new stake in shares of Teradyne during the 2nd quarter worth $37,800,000. Bank of America Corp DE purchased a new position in shares of Teradyne in the 2nd quarter worth about $842,822,000. Legal & General Group Plc bought a new position in Teradyne during the second quarter valued at about $656,058,000. Finally, Aspex Management HK Ltd bought a new position in Teradyne during the fourth quarter valued at about $199,723,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Company Profile

Teradyne, Inc is a global provider of automated test equipment and industrial automation solutions. Founded in 1960 and headquartered in North Reading, Massachusetts, the company develops systems that help manufacturers test the performance, quality, and reliability of electronic products and components.

Teradyne’s products include semiconductor test systems used to evaluate integrated circuits, memory devices, and other semiconductor components. The company also provides test solutions for wireless products, storage systems, and complex electronic systems, along with related software, services, and support.

Through its Industrial Automation segment, Teradyne offers collaborative robots from Universal Robots, autonomous mobile robots from Mobile Industrial Robots, and robotic arms and systems for manufacturing and other industrial applications.