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

Teradyne, Inc. (NASDAQ:TER - Get Free Report)'s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. 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 changing hands.

The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. The firm had revenue of $599.82 million during the quarter, compared to analyst estimates of $566.31 million. Teradyne had a net margin of 16.77% and a return on equity of 19.45%. The business's revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TER. Evercore ISI initiated coverage on shares of Teradyne in a report on Tuesday, April 16th. They issued an "outperform" rating and a $130.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Teradyne from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $110.00 target price on shares of Teradyne in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Teradyne presently has an average rating of "Hold" and a consensus target price of $113.73.

Insider Transactions at Teradyne

In other news, CFO Sanjay Mehta sold 8,653 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $105.10, for a total value of $909,430.30. Following the transaction, 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 SEC, which can be accessed through this link. In related news, CFO Sanjay Mehta sold 8,653 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $105.10, for a total value of $909,430.30. Following the completion of the sale, the chief financial officer now directly owns 31,180 shares in the company, valued at approximately $3,277,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard John Burns sold 1,744 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 $1,755,229.26. The disclosure for this sale can be found here. Insiders own 0.36% of the company's stock.

Institutional Trading of Teradyne

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Teradyne by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 18,285,900 shares of the company's stock valued at $1,984,386,000 after purchasing an additional 89,511 shares during the period. FMR LLC lifted its stake in shares of Teradyne by 3.9% in the 3rd quarter. FMR LLC now owns 11,533,715 shares of the company's stock valued at $1,158,677,000 after purchasing an additional 437,054 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Teradyne by 2.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,432,153 shares of the company's stock valued at $445,254,000 after purchasing an additional 106,848 shares during the period. Van ECK Associates Corp lifted its stake in shares of Teradyne by 26.9% in the 4th quarter. Van ECK Associates Corp now owns 4,361,091 shares of the company's stock valued at $473,265,000 after purchasing an additional 923,612 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Teradyne by 4.6% in the 3rd quarter. Nordea Investment Management AB now owns 3,177,256 shares of the company's stock valued at $321,062,000 after purchasing an additional 140,579 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Stock Performance

The firm's 50 day moving average is $105.38 and its 200-day moving average is $100.43. The stock has a market capitalization of $16.66 billion, a price-to-earnings 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.