Teradyne (NASDAQ:TER) Stock Falls 6.8% – Here’s What Happened

by · The Cerbat Gem

Shares of Teradyne, Inc. (NASDAQ:TER – Get Free Report) dropped 6.8% on Wednesday. The company traded as low as $245.94 and last traded at $250.99. 4,428,444 shares were traded during mid-day trading, an increase of 24% from the average session volume of 3,571,852 shares. The stock had previously closed at $269.35.

Trending Headlines about Teradyne

Here are the key news stories impacting Teradyne this week:

Analyst Upgrades and Downgrades

Several research firms recently commented on TER. Cantor Fitzgerald reiterated an “overweight” rating and issued a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Evercore restated an “outperform” rating and set a $420.00 target price on shares of Teradyne in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on shares of Teradyne from $387.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Zacks Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Finally, Wall Street Zen upgraded Teradyne from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Teradyne currently has an average rating of “Moderate Buy” and a consensus target price of $405.86.

View Our Latest Stock Analysis on TER

Teradyne Trading Up 2.6%

The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 0.49 and a beta of 1.73. The company’s 50 day simple moving average is $354.68 and its 200-day simple moving average is $348.79.

Teradyne (NASDAQ:TER – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.20. Teradyne had a net margin of 27.46% and a return on equity of 43.81%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 69.8% compared to the same quarter last year. Sell-side analysts anticipate that Teradyne, Inc. will post 9.41 EPS for the current year.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, September 4th. Teradyne’s dividend payout ratio is currently 5.97%.

Insider Activity

In other news, CEO Gregory Smith sold 4,000 shares of Teradyne stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $341.28, for a total value of $1,365,120.00. Following the completion of the sale, the chief executive officer owned 104,495 shares of the company’s stock, valued at $35,662,053.60. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,000 shares of company stock worth $4,416,440 in the last 90 days. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teradyne

Large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc boosted its holdings in Teradyne by 3,714.7% during the third quarter. Aberdeen Group plc now owns 4,654,505 shares of the company’s stock worth $1,866,038,000 after buying an additional 4,532,489 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Teradyne by 2.7% in the third quarter. Allworth Financial LP now owns 4,337 shares of the company’s stock valued at $1,739,000 after buying an additional 112 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Teradyne in the third quarter valued at $296,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its position in shares of Teradyne by 69.7% during the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 516 shares of the company’s stock valued at $207,000 after acquiring an additional 212 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in shares of Teradyne by 14.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,577 shares of the company’s stock valued at $3,840,000 after acquiring an additional 1,242 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

About Teradyne

(Get Free Report)

Teradyne, Inc develops and supplies automated test equipment and robotics used by manufacturers around the world. Its test systems help customers evaluate the performance and reliability of semiconductor devices, electronic products, wireless components and storage products.

The company’s offerings include semiconductor test systems, system-level test equipment and wireless test solutions. Teradyne also serves industrial automation markets through Universal Robots, which makes collaborative robots, and Mobile Industrial Robots, which develops autonomous mobile robots for moving materials in factories and other facilities.

Founded in 1960 and headquartered in North Reading, Massachusetts, Teradyne serves customers across global markets.

Featured Articles