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

Teradyne, Inc. (NASDAQ:TER)’s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. 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.

The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. Teradyne had a return on equity of 19.06% and a net margin of 16.15%. The business had revenue of $599.82 million during the quarter, compared to analysts’ expectations of $566.31 million. During the same period in the prior year, the business earned $0.55 EPS. Teradyne’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TER shares. JPMorgan Chase & Co. boosted their price objective on shares of Teradyne from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Susquehanna upped their price objective on Teradyne from $125.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 target price on shares of Teradyne in a research report on Thursday. The Goldman Sachs Group boosted their target price on Teradyne from $107.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Robert W. Baird raised their price target on shares of Teradyne from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $115.69.

Insider Buying and Selling

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 stock was bought at an average cost of $94.07 per share, with a total value of $94,070.00. Following the completion of the transaction, the director now directly owns 4,728 shares in the company, valued at approximately $444,762.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, 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 transaction of $182,928.16. Following the completion of the sale, the insider now owns 16,734 shares of the company’s stock, valued at approximately $1,755,229.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernest E. Maddock purchased 1,000 shares of the stock in a transaction on 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 acquisition, the director now owns 4,728 shares in the company, valued at $444,762.96. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teradyne

A number of institutional investors have recently made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC increased its position in Teradyne by 3.2% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 7,165 shares of the company’s stock worth $808,000 after acquiring an additional 219 shares during the period. Simplicity Wealth LLC bought a new position in shares of Teradyne during the first quarter worth approximately $962,000. Bfsg LLC acquired a new stake in shares of Teradyne in the first quarter valued at approximately $34,000. United Asset Strategies Inc. boosted its stake in shares of Teradyne by 0.6% in the first quarter. United Asset Strategies Inc. now owns 127,935 shares of the company’s stock valued at $14,435,000 after buying an additional 761 shares during the period. Finally, Fifth Third Bancorp grew its position in Teradyne by 4.4% during the first quarter. Fifth Third Bancorp now owns 11,035 shares of the company’s stock worth $1,245,000 after buying an additional 461 shares in the last quarter. Institutional investors own 99.77% of the company’s stock.

Teradyne Trading Up 4.8 %

The stock has a market cap of $17.46 billion, a P/E ratio of 43.40 and a beta of 1.56. The stock has a 50 day simple moving average of $105.62 and a 200 day simple moving average 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.