Teradyne (NASDAQ:TER) Shares Down 5.4% – Here’s What Happened

Shares of Teradyne, Inc. (NASDAQ:TER) dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $331.69 and last traded at $330.8220. 225,703 shares traded hands during trading, a decline of 94% from the average session volume of 3,704,452 shares. The stock had previously closed at $349.83.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TER shares. Wall Street Zen downgraded Teradyne from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird reissued a “neutral” rating and issued a $420.00 target price on shares of Teradyne in a report on Friday, August 21st. Susquehanna increased their target price on Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald restated an “overweight” rating and set a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $396.80.

Teradyne Stock Performance

The firm has a market cap of $51.99 billion, a P/E ratio of 45.62, a P/E/G ratio of 0.72 and a beta of 1.78. The business’s 50-day simple moving average is $378.22 and its 200 day simple moving average is $357.57.

Teradyne (NASDAQ:TER) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 103.9% on a year-over-year basis. As a group, equities research analysts expect that Teradyne, Inc. will post 9.1 EPS for the current year.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, September 4th. Teradyne’s dividend payout ratio is 7.13%.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer owned 112,495 shares of the company’s stock, valued at approximately $47,810,375. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Teradyne

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Teradyne in the fourth quarter worth about $28,000. Community Financial Services Group LLC bought a new position in shares of Teradyne during the 2nd quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new position in shares of Teradyne during the 1st quarter valued at approximately $30,000. Elevation Wealth Partners LLC increased its holdings in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after acquiring an additional 66 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Teradyne in the 2nd quarter worth approximately $35,000. Institutional investors own 99.77% of the company’s stock.

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.