Stock Repurchase Plan Declared by Teradyne (NASDAQ:TER)

Teradyne (NASDAQ:TER - Get Free Report) declared that its board has approved a stock buyback 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 buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Teradyne Stock Down 0.4 %

Shares of Teradyne stock traded down $0.29 on Monday, hitting $76.83. 4,835,635 shares of the company were exchanged, compared to its average volume of 2,554,679. Teradyne has a 1-year low of $65.77 and a 1-year high of $163.21. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The company has a 50-day moving average price of $87.49 and a 200 day moving average price of $108.38.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. Research analysts forecast that Teradyne will post 3.88 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TER. UBS Group set a $130.00 target price on Teradyne and gave the company a "buy" rating in a research report on Wednesday, March 12th. TD Cowen decreased their price objective on shares of Teradyne from $135.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Susquehanna reduced their price target on shares of Teradyne from $165.00 to $155.00 and set a "positive" rating for the company in a report on Wednesday, March 12th. Bank of America reduced their price objective on shares of Teradyne from $100.00 to $85.00 and set an "underperform" rating for the company in a research note on Wednesday, March 12th. Finally, Northland Securities dropped their target price on shares of Teradyne from $154.00 to $140.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.94.

Insider Buying and Selling

In other news, insider Richard John Burns sold 445 shares of the company'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 $49,613.05. Following the completion of the sale, the insider now owns 25,191 shares in the company, valued at $2,808,544.59. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Mehta sold 614 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $102.00, for a total value of $62,628.00. Following the transaction, the chief financial officer now directly owns 30,446 shares in the company, valued at $3,105,492. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,399 shares of company stock worth $612,734 over the last 90 days. 0.16% of the stock is owned by 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.

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