Teradyne, Inc. (NASDAQ:TER) Short Interest Up 43.0% in April

Teradyne, Inc. (NASDAQ:TER - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 6,780,000 shares, a growth of 43.0% from the March 31st total of 4,740,000 shares. Approximately 4.3% of the shares of the company are short sold. Based on an average trading volume of 3,570,000 shares, the days-to-cover ratio is presently 1.9 days.

Teradyne Stock Performance

TER traded up $2.10 on Friday, reaching $75.88. The company 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 company has a market cap 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. The business has a 50 day simple moving average of $84.28 and a 200 day simple moving average of $107.01.

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

Teradyne declared that its Board of Directors has approved a stock repurchase plan on Monday, April 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on TER shares. Bank of America cut their target price on shares of Teradyne from $100.00 to $85.00 and set an "underperform" rating for the company in a research report on Wednesday, March 12th. Northland Capmk raised shares of Teradyne from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Vertical Research assumed coverage on shares of Teradyne in a report on Friday, March 7th. They set a "buy" rating and a $135.00 target price on the stock. TD Cowen cut their price target on Teradyne from $135.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Northland Securities decreased their price objective on Teradyne from $154.00 to $140.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $117.56.

Insider Buying and Selling

In related news, insider Richard John Burns sold 445 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.49, for a total transaction of $49,613.05. Following the completion of the transaction, the insider now owns 25,191 shares in the company, valued at approximately $2,808,544.59. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Mehta sold 1,384 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 transaction of $154,302.16. Following the completion of the transaction, the chief financial officer now owns 36,576 shares in the company, valued at approximately $4,077,858.24. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,045 shares of company stock worth $227,997. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teradyne

A number of large investors have recently modified their holdings of TER. Norges Bank bought a new position in Teradyne during the fourth quarter valued at approximately $270,989,000. Van ECK Associates Corp boosted its stake in shares of Teradyne by 59.9% in the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock valued at $620,552,000 after purchasing an additional 1,846,079 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Teradyne during the 4th quarter valued at $160,087,000. Ameriprise Financial Inc. raised its position in Teradyne by 28.3% in the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after purchasing an additional 1,065,474 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in Teradyne by 142.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company's stock worth $191,718,000 after purchasing an additional 894,849 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

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.