Teradyne (NASDAQ:TER) to Buyback $1.00 billion in Outstanding Stock

Teradyne (NASDAQ:TER - Get Free Report) announced that its board has initiated a share repurchase program on Monday, April 28th, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TER. TD Cowen dropped their price objective on shares of Teradyne from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on shares of Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Northland Capmk raised Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Bank of America dropped their target price on Teradyne from $100.00 to $85.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. Finally, UBS Group set a $130.00 price target on Teradyne and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teradyne has a consensus rating of "Moderate Buy" and an average target price of $117.56.

Teradyne Trading Up 2.8 %

TER stock traded up $2.10 during midday trading on Friday, hitting $75.88. The stock had a trading volume of 2,526,831 shares, compared to its average volume of 2,572,477. Teradyne has a 52 week low of $65.77 and a 52 week high of $163.21. The stock has a 50-day simple moving average of $84.28 and a 200 day simple moving average of $107.01. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 2.83 and a beta of 1.65.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. The company had revenue of $685.70 million during the quarter, compared to the consensus estimate of $680.54 million. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. On average, equities analysts forecast that Teradyne will post 3.88 EPS for the current year.

Insider Buying and Selling at Teradyne

In other Teradyne news, insider Richard John Burns sold 445 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total value of $49,613.05. Following the transaction, the insider now directly owns 25,191 shares in the company, valued at $2,808,544.59. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Mehta sold 1,384 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.49, for a total transaction of $154,302.16. Following the sale, the chief financial officer now directly owns 36,576 shares of the company's stock, valued at approximately $4,077,858.24. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,045 shares of company stock valued at $227,997. 0.16% of the stock is currently owned by corporate insiders.

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.