Teradyne (NASDAQ:TER) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Teradyne (NASDAQ:TER) announced its earnings results on Wednesday. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18, RTT News reports. Teradyne had a return on equity of 18.88% and a net margin of 16.15%. The firm had revenue of $599.82 million for the quarter, compared to the consensus estimate of $566.31 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Teradyne updated its Q2 2024 guidance to 0.640-0.840 EPS and its Q2 guidance to $0.64-0.84 EPS.

Teradyne Price Performance

Shares of Teradyne stock opened at $114.13 on Friday. Teradyne has a 12 month low of $81.07 and a 12 month high of $119.20. The business has a 50 day simple moving average of $105.62 and a two-hundred day simple moving average of $100.53. The stock has a market capitalization of $17.46 billion, a P/E ratio of 43.40 and a beta of 1.56.

Insider Buying and Selling

In related news, Director Ernest E. Maddock purchased 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $94.07 per share, with a total value of $94,070.00. Following the completion of the acquisition, the director now directly owns 4,728 shares in the company, valued at approximately $444,762.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Teradyne news, CFO Sanjay Mehta sold 8,653 shares of Teradyne stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $105.10, for a total value of $909,430.30. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest E. Maddock acquired 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $94.07 per share, for a total transaction of $94,070.00. Following the acquisition, the director now directly owns 4,728 shares in the company, valued at approximately $444,762.96. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Teradyne

A number of institutional investors have recently added to or reduced their stakes in TER. Norges Bank purchased a new stake in Teradyne in the 4th quarter valued at approximately $188,873,000. Allspring Global Investments Holdings LLC raised its position in shares of Teradyne by 489.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,073,278 shares of the company’s stock worth $208,282,000 after purchasing an additional 1,721,306 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Teradyne by 26.9% during the 4th quarter. Van ECK Associates Corp now owns 4,361,091 shares of the company’s stock worth $473,265,000 after purchasing an additional 923,612 shares during the last quarter. Boston Partners raised its position in shares of Teradyne by 38.5% during the 3rd quarter. Boston Partners now owns 2,351,867 shares of the company’s stock worth $236,164,000 after purchasing an additional 654,181 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Teradyne by 24.4% during the 3rd quarter. Invesco Ltd. now owns 2,427,501 shares of the company’s stock worth $243,867,000 after purchasing an additional 476,763 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TER. Robert W. Baird boosted their target price on Teradyne from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Teradyne in a research note on Thursday. Susquehanna boosted their price target on Teradyne from $125.00 to $130.00 and gave the company a “positive” rating in a research note on Friday. Evercore ISI began coverage on Teradyne in a research note on Tuesday, April 16th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on Teradyne from $107.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Teradyne currently has a consensus rating of “Hold” and an average price target of $115.69.

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.