Teradyne (NASDAQ:TER) Shares Gap Up Following Earnings Beat

Teradyne, Inc. (NASDAQ:TER) shares 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 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. Teradyne had a net margin of 16.77% and a return on equity of 19.45%. The business had revenue of $599.82 million during the quarter, compared to analysts’ expectations of $566.31 million. During the same period last year, the company posted $0.55 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis.

Wall Street Analyst Weigh In

TER has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Teradyne in a research note on Thursday. Evercore ISI assumed coverage on Teradyne in a research report on Tuesday, April 16th. They set an “outperform” rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Teradyne from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.73.

Insider Activity

In other Teradyne news, CFO Sanjay Mehta sold 8,653 shares of the business’s stock in a transaction 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 owns 31,180 shares of the company’s stock, valued at approximately $3,277,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ernest E. Maddock acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $94.07 per share, for a total transaction of $94,070.00. Following the completion of the transaction, the director now owns 4,728 shares of the company’s stock, valued at $444,762.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Mehta sold 8,653 shares of the company’s stock in a transaction that occurred 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 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. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Teradyne

A number of institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC purchased a new stake in Teradyne during the third quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Teradyne in the 3rd quarter worth approximately $27,000. CVA Family Office LLC bought a new stake in Teradyne in the fourth quarter worth $33,000. Bfsg LLC bought a new stake in shares of Teradyne in the 1st quarter valued at about $34,000. Finally, Venturi Wealth Management LLC purchased a new stake in Teradyne during the 3rd quarter valued at about $36,000. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Up 8.2 %

The firm has a fifty day moving average of $105.38 and a two-hundred day moving average of $100.43. The company has a market capitalization of $16.66 billion, a PE ratio of 39.89 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.