Teradyne (NASDAQ:TER) Shares Down 4.7% – What’s Next?

Teradyne, Inc. (NASDAQ:TER)’s share price traded down 4.7% on Monday. The stock traded as low as $381.74 and last traded at $383.85. Approximately 2,720,471 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 3,536,399 shares. The stock had previously closed at $402.68.

Analyst Ratings Changes

TER has been the topic of a number of research analyst reports. UBS Group lifted their target price on Teradyne from $440.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Evercore reaffirmed an “outperform” rating and issued a $420.00 price target on shares of Teradyne in a research note on Thursday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $420.00 price target on shares of Teradyne in a report on Friday, August 21st. Wall Street Zen downgraded shares of Teradyne from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Morgan Stanley upped their price objective on shares of Teradyne from $387.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $396.80.

Teradyne Trading Down 4.7%

The stock has a market cap of $60.01 billion, a PE ratio of 52.65, a P/E/G ratio of 0.81 and a beta of 1.75. The company has a fifty day moving average of $382.67 and a 200-day moving average of $372.57.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $0.57 EPS. Teradyne’s revenue was up 103.9% compared to the same quarter last year. As a group, research analysts anticipate that Teradyne, Inc. will post 9.11 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, September 4th. Teradyne’s dividend payout ratio is presently 7.13%.

Insider Transactions at Teradyne

In other Teradyne news, CEO Gregory Smith sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $337.83, for a total value of $1,351,320.00. Following the completion of the transaction, the chief executive officer owned 108,495 shares of the company’s stock, valued at $36,652,865.85. This trade represents a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Teradyne

A number of large investors have recently modified their holdings of TER. BlackRock Inc. acquired a new position in Teradyne during the second quarter worth about $9,404,408,000. State Street Corp increased its holdings in Teradyne by 4.6% in the second quarter. State Street Corp now owns 7,290,460 shares of the company’s stock valued at $3,527,416,000 after buying an additional 320,034 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Teradyne by 5.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,607,914 shares of the company’s stock valued at $1,261,813,000 after acquiring an additional 123,549 shares during the period. ABS Investment Management LLC acquired a new stake in shares of Teradyne during the 2nd quarter valued at approximately $1,006,387,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Teradyne by 0.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,978,124 shares of the company’s stock valued at $957,096,000 after acquiring an additional 12,659 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

About Teradyne

Teradyne, Inc is a global provider of automated test equipment and industrial automation solutions. Founded in 1960 and headquartered in North Reading, Massachusetts, the company develops systems that help manufacturers test the performance, quality, and reliability of electronic products and components.

Teradyne’s products include semiconductor test systems used to evaluate integrated circuits, memory devices, and other semiconductor components. The company also provides test solutions for wireless products, storage systems, and complex electronic systems, along with related software, services, and support.

Through its Industrial Automation segment, Teradyne offers collaborative robots from Universal Robots, autonomous mobile robots from Mobile Industrial Robots, and robotic arms and systems for manufacturing and other industrial applications.