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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. The business had revenue of $599.82 million for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $0.55 EPS.

Analysts Set New Price Targets

TER has been the subject of a number of research reports. JPMorgan Chase & Co. upped 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 for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price objective on shares of Teradyne in a report on Thursday. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.73.

Insider Buying and Selling

In related news, Director Ernest E. Maddock purchased 1,000 shares of Teradyne stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $94.07 per share, for a total transaction of $94,070.00. Following the transaction, the director now directly owns 4,728 shares in the company, valued at $444,762.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Teradyne news, Director Ernest E. Maddock acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $94.07 per share, for a total transaction of $94,070.00. Following the transaction, the director now owns 4,728 shares in the company, valued at $444,762.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard John Burns sold 1,744 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $104.89, for a total value of $182,928.16. Following the completion of the sale, the insider now owns 16,734 shares in the company, valued at $1,755,229.26. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teradyne

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Teradyne in the 4th quarter valued at approximately $188,873,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Teradyne by 489.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,073,278 shares of the company’s stock valued at $208,282,000 after purchasing an additional 1,721,306 shares during the period. Van ECK Associates Corp lifted its stake in shares of Teradyne by 26.9% in the 4th quarter. Van ECK Associates Corp now owns 4,361,091 shares of the company’s stock valued at $473,265,000 after purchasing an additional 923,612 shares during the period. Boston Partners lifted its stake in shares of Teradyne by 38.5% in the 3rd quarter. Boston Partners now owns 2,351,867 shares of the company’s stock valued at $236,164,000 after purchasing an additional 654,181 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Teradyne by 24.4% in the 3rd quarter. Invesco Ltd. now owns 2,427,501 shares of the company’s stock valued at $243,867,000 after purchasing an additional 476,763 shares during the period. 99.77% of the stock is currently owned by institutional investors.

Teradyne Price Performance

The stock has a 50 day simple moving average of $105.25 and a 200-day simple moving average of $100.37. The firm has a market cap of $16.64 billion, a PE ratio of 39.86 and a beta of 1.56.

About Teradyne

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.