Teradyne (NASDAQ:TER) Shares Gap Down – Here’s What Happened

Teradyne, Inc. (NASDAQ:TER)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $341.62, but opened at $332.86. Teradyne shares last traded at $327.1540, with a volume of 171,237 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Susquehanna raised their target price on shares of Teradyne from $415.00 to $550.00 and gave the company a “positive” rating in a research report on Tuesday, June 30th. Evercore reiterated an “outperform” rating and set a $420.00 target price on shares of Teradyne in a research report on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $550.00 price target on shares of Teradyne in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Teradyne from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered Teradyne from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. One investment 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 stock. According to data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Teradyne Stock Up 5.4%

The stock has a fifty day moving average of $370.59 and a two-hundred day moving average of $358.04. The stock has a market cap of $55.82 billion, a price-to-earnings ratio of 48.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.78.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.38. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.Teradyne’s quarterly revenue was up 103.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. On average, research analysts expect that Teradyne, Inc. will post 9.1 EPS for the current year.

Teradyne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be 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 is Friday, September 4th. Teradyne’s payout ratio is currently 7.13%.

Insider Transactions at Teradyne

In other news, CEO Gregory Smith sold 4,000 shares of Teradyne stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the sale, the chief executive officer owned 112,495 shares in the company, valued at $47,810,375. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Institutional Trading of Teradyne

Several institutional investors and hedge funds have recently bought and sold shares of TER. Caitong International Asset Management Co. Ltd acquired a new position in Teradyne during the 4th quarter valued at about $28,000. Community Financial Services Group LLC acquired a new position in Teradyne in the 2nd quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new position in Teradyne during the 1st quarter valued at about $30,000. Elevation Wealth Partners LLC increased its stake in shares of Teradyne by 1,320.0% in the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after acquiring an additional 66 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Teradyne during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 99.77% of the company’s stock.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.