Teradyne (NASDAQ:TER) to Buyback $100.00 million in Shares

Teradyne (NASDAQ:TER) declared that its Board of Directors has approved a share buyback program on Monday, November 11th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

TER has been the subject of a number of analyst reports. Cantor Fitzgerald raised Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price objective for the company in a research report on Friday, August 16th. Citigroup decreased their target price on Teradyne from $185.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus decreased their target price on Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Finally, Craig Hallum decreased their target price on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Teradyne presently has a consensus rating of “Hold” and a consensus price target of $142.62.

Teradyne Trading Down 1.8 %

Shares of NASDAQ TER opened at $106.38 on Thursday. Teradyne has a twelve month low of $89.15 and a twelve month high of $163.21. The stock has a 50 day moving average of $123.50 and a two-hundred day moving average of $132.48. The stock has a market cap of $17.33 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.36 and a beta of 1.52.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The company had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts predict that Teradyne will post 3.15 earnings per share for the current year.

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, November 25th. Teradyne’s payout ratio is currently 15.24%.

Insider Activity

In other news, Director Mercedes Johnson sold 625 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total value of $83,431.25. Following the transaction, the director now owns 16,518 shares of the company’s stock, valued at approximately $2,204,987.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Mercedes Johnson sold 625 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total value of $83,431.25. Following the transaction, the director now owns 16,518 shares of the company’s stock, valued at approximately $2,204,987.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sanjay Mehta sold 6,153 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total value of $818,718.18. Following the completion of the transaction, the chief financial officer now directly owns 35,834 shares in the company, valued at approximately $4,768,072.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,352 shares of company stock valued at $1,899,353. Company insiders own 0.36% of the company’s stock.

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.