Teradyne (NASDAQ:TER) Shares Gap Down – Here’s What Happened

Shares of Teradyne, Inc. (NASDAQ:TER) gapped down before the market opened on Monday . The stock had previously closed at $375.74, but opened at $360.12. Teradyne shares last traded at $352.6930, with a volume of 299,596 shares traded.

Analysts Set New Price Targets

TER has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $465.00 target price on shares of Teradyne in a research report on Tuesday, July 28th. Cantor Fitzgerald restated an “overweight” rating and set a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Citigroup increased their price objective on shares of Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group lifted their target price on shares of Teradyne from $440.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Bank of America boosted their target price on shares of Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Teradyne Stock Down 3.6%

The firm has a 50-day moving average price of $386.46 and a two-hundred day moving average price of $354.52. The firm has a market cap of $56.63 billion, a PE ratio of 49.63, a P/E/G ratio of 0.76 and a beta of 1.78.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 103.9% on a year-over-year basis. Research analysts forecast that Teradyne, Inc. will post 9.1 earnings per share for the current fiscal year.

Insider Transactions at Teradyne

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chief executive officer owned 112,495 shares of the company’s stock, valued at $47,810,375. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teradyne

Several hedge funds and other institutional investors have recently modified their holdings of TER. California State Teachers Retirement System grew its position in shares of Teradyne by 46,425.7% in the second quarter. California State Teachers Retirement System now owns 115,598,569 shares of the company’s stock valued at $55,931,212,000 after purchasing an additional 115,350,107 shares in the last quarter. BlackRock Inc. acquired a new position in Teradyne during the second quarter worth $9,404,408,000. Andar Capital Management HK Ltd purchased a new stake in Teradyne in the 2nd quarter valued at $37,800,000. Norges Bank purchased a new stake in Teradyne in the 4th quarter valued at $398,777,000. Finally, Wellington Management Group LLP increased its stake in shares of Teradyne by 13,949.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after acquiring an additional 2,022,389 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.