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

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TER. Stifel Nicolaus decreased their price objective on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Robert W. Baird dropped their price objective on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Evercore ISI raised 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. JPMorgan Chase & Co. lifted their price objective on shares of Teradyne from $120.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Northland Capmk downgraded shares of Teradyne from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Teradyne currently has an average rating of “Hold” and a consensus price target of $142.62.

Teradyne Trading Down 0.4 %

Shares of Teradyne stock opened at $108.33 on Wednesday. Teradyne has a 12 month low of $85.75 and a 12 month high of $163.21. The firm has a market cap of $17.64 billion, a PE ratio of 34.54, a PEG ratio of 2.41 and a beta of 1.52. The stock has a 50 day moving average of $123.83 and a 200 day moving average of $132.52.

Teradyne (NASDAQ:TER) last announced its 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. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm had revenue of $737.30 million for the quarter, compared to the consensus estimate of $716.40 million. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts forecast that Teradyne will post 3.15 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

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

Insider Activity

In related news, Director Mercedes Johnson sold 625 shares of Teradyne 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 sale, the director now directly owns 16,518 shares in the company, valued at $2,204,987.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gregory Stephen Smith sold 3,080 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the transaction, the chief executive officer now owns 83,816 shares in the company, valued at approximately $10,896,080. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 directly owns 16,518 shares in the company, valued at $2,204,987.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,352 shares of company stock worth $1,899,353. Corporate 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.