Teradyne (NASDAQ:TER) Stock Price Down 1% – Here’s What Happened

Shares of Teradyne, Inc. (NASDAQ:TER) fell 1% during mid-day trading on Monday. The company traded as low as $435.50 and last traded at $444.53. 1,677,148 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 3,564,906 shares. The stock had previously closed at $449.04.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TER shares. Robert W. Baird reissued a “neutral” rating and set a $420.00 price target on shares of Teradyne in a research report on Friday, August 21st. The Goldman Sachs Group restated a “buy” rating and issued a $465.00 price objective on shares of Teradyne in a research report on Tuesday, July 28th. Wall Street Zen lowered Teradyne from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings upgraded Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Finally, UBS Group lifted their price objective on Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $396.80.

Teradyne Stock Performance

The firm has a market capitalization of $67.28 billion, a PE ratio of 59.03, a price-to-earnings-growth ratio of 0.90 and a beta of 1.75. The company’s fifty day moving average price is $379.46 and its two-hundred day moving average price is $370.34.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.38. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 103.9% on a year-over-year basis. On average, equities analysts expect that Teradyne, Inc. will post 9.11 earnings per share for the current year.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, September 4th. Teradyne’s dividend payout ratio (DPR) is 7.13%.

Insider Activity

In other news, CEO Gregory Smith sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $337.83, for a total transaction of $1,351,320.00. Following the completion of the sale, the chief executive officer directly owned 108,495 shares in the company, valued at $36,652,865.85. This represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Teradyne in the 2nd quarter worth about $9,404,408,000. State Street Corp lifted its stake in shares of Teradyne by 4.6% in the 2nd quarter. State Street Corp now owns 7,290,460 shares of the company’s stock valued at $3,527,416,000 after purchasing an additional 320,034 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Teradyne by 5.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,607,914 shares of the company’s stock worth $1,261,813,000 after purchasing an additional 123,549 shares during the period. ABS Investment Management LLC purchased a new stake in shares of Teradyne during the 2nd quarter worth about $1,006,387,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Teradyne by 0.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,978,124 shares of the company’s stock worth $957,096,000 after purchasing an additional 12,659 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Teradyne Company Profile

Teradyne, Inc is a global provider of automated test equipment and industrial automation solutions. Founded in 1960 and headquartered in North Reading, Massachusetts, the company develops systems that help manufacturers test the performance, quality, and reliability of electronic products and components.

Teradyne’s products include semiconductor test systems used to evaluate integrated circuits, memory devices, and other semiconductor components. The company also provides test solutions for wireless products, storage systems, and complex electronic systems, along with related software, services, and support.

Through its Industrial Automation segment, Teradyne offers collaborative robots from Universal Robots, autonomous mobile robots from Mobile Industrial Robots, and robotic arms and systems for manufacturing and other industrial applications.