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

Teradyne (NASDAQ:TER) announced that its board has initiated a share buyback plan on Monday, November 11th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Teradyne Trading Down 0.4 %

Shares of NASDAQ:TER opened at $108.33 on Wednesday. The company has a market capitalization of $17.64 billion, a PE ratio of 34.54, a PEG ratio of 2.41 and a beta of 1.52. The business has a 50 day moving average of $123.83 and a two-hundred day moving average of $132.52. Teradyne has a 12-month low of $85.75 and a 12-month high of $163.21.

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

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. Teradyne’s payout ratio is 15.24%.

Analyst Upgrades and Downgrades

TER has been the subject of a number of analyst reports. StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Susquehanna upped their price objective on shares of Teradyne from $130.00 to $145.00 and gave the company a “positive” rating in a report on Friday, July 26th. Northland Securities decreased their price target on Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Evercore ISI lifted their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Craig Hallum dropped their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teradyne presently has an average rating of “Hold” and an average target price of $142.62.

Insider Transactions at Teradyne

In related news, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the transaction, the chief executive officer now directly owns 83,816 shares of the company’s stock, valued at $10,896,080. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gregory Stephen Smith sold 3,080 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the completion of the sale, the chief executive officer now directly owns 83,816 shares of the company’s stock, valued at $10,896,080. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Mehta sold 6,153 shares of Teradyne 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 sale, the chief financial officer now owns 35,834 shares in the company, valued at approximately $4,768,072.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,352 shares of company stock worth $1,899,353. 0.36% of the stock is currently owned by insiders.

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.