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

Teradyne, Inc. (NASDAQ:TER)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. 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 trading hands.

The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.33 by $0.18. The business had revenue of $599.82 million during the quarter, compared to analysts’ expectations of $566.31 million. Teradyne had a return on equity of 19.45% and a net margin of 16.77%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Teradyne

A number of large investors have recently bought and sold shares of the stock. Marshall Financial Group LLC grew its holdings in shares of Teradyne by 1.2% during the fourth quarter. Marshall Financial Group LLC now owns 8,251 shares of the company’s stock worth $895,000 after buying an additional 96 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Teradyne by 24.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 517 shares of the company’s stock worth $56,000 after acquiring an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Teradyne by 4.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,346 shares of the company’s stock valued at $255,000 after acquiring an additional 107 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in shares of Teradyne by 2.9% during the 4th quarter. Congress Asset Management Co. MA now owns 3,860 shares of the company’s stock worth $419,000 after purchasing an additional 110 shares during the period. Finally, Meritage Group LP boosted its holdings in shares of Teradyne by 5.3% during the fourth quarter. Meritage Group LP now owns 2,218 shares of the company’s stock worth $241,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Teradyne Price Performance

The firm has a market cap of $16.66 billion, a PE ratio of 39.89 and a beta of 1.56. The stock has a 50-day moving average price of $105.38 and a 200 day moving average price of $100.43.

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.