Teradyne (NASDAQ:TER) Shares Gap Up on Strong Earnings

Teradyne, Inc. (NASDAQ:TER) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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, beating analysts’ consensus estimates of $0.33 by $0.18. Teradyne had a net margin of 16.15% and a return on equity of 19.06%. The business had revenue of $599.82 million during the quarter, compared to analyst estimates of $566.31 million. During the same period last year, the business earned $0.55 EPS. The business’s revenue was down 2.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Teradyne in a report on Thursday. Evercore ISI initiated coverage on shares of Teradyne in a research note on Tuesday, April 16th. They set an “outperform” rating and a $130.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Teradyne from $107.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna increased their price objective on shares of Teradyne from $125.00 to $130.00 and gave the stock a “positive” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on Teradyne from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Teradyne currently has a consensus rating of “Hold” and a consensus price target of $115.69.

Insider Buying and Selling at Teradyne

In related 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 completion of the transaction, the chief financial officer now owns 31,180 shares of the company’s stock, valued at approximately $3,277,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Teradyne news, CFO Sanjay Mehta sold 8,653 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 31,180 shares in the company, valued at approximately $3,277,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard John Burns sold 1,744 shares of Teradyne stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $104.89, for a total value of $182,928.16. Following the transaction, the insider now directly owns 16,734 shares in the company, 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TER. CWM LLC raised its position in Teradyne by 19.6% during the third quarter. CWM LLC now owns 3,051 shares of the company’s stock valued at $307,000 after acquiring an additional 499 shares in the last quarter. AE Wealth Management LLC increased its position in Teradyne by 25.6% during the third quarter. AE Wealth Management LLC now owns 3,315 shares of the company’s stock worth $333,000 after buying an additional 676 shares during the last quarter. SG Americas Securities LLC increased its position in Teradyne by 239.5% during the third quarter. SG Americas Securities LLC now owns 11,351 shares of the company’s stock worth $1,140,000 after buying an additional 8,008 shares during the last quarter. DAVENPORT & Co LLC lifted its position in shares of Teradyne by 8.3% in the third quarter. DAVENPORT & Co LLC now owns 3,720 shares of the company’s stock worth $374,000 after buying an additional 286 shares during the last quarter. Finally, Oak Thistle LLC lifted its position in shares of Teradyne by 52.8% in the third quarter. Oak Thistle LLC now owns 6,859 shares of the company’s stock worth $689,000 after buying an additional 2,370 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Stock Performance

The company has a market cap of $17.46 billion, a P/E ratio of 43.40 and a beta of 1.56. The firm has a 50 day moving average price of $105.62 and a 200-day moving average price of $100.53.

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.