Teradyne (NASDAQ:TER) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Teradyne (NASDAQ:TER) released its earnings results on Wednesday. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.33 by $0.18, RTT News reports. The company had revenue of $599.82 million during the quarter, compared to analysts’ expectations of $566.31 million. Teradyne had a return on equity of 19.45% and a net margin of 16.77%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. Teradyne updated its Q2 2024 guidance to 0.640-0.840 EPS and its Q2 guidance to $0.64-0.84 EPS.

Teradyne Stock Performance

Shares of Teradyne stock traded up $0.85 during trading on Wednesday, hitting $100.70. 2,428,307 shares of the stock traded hands, compared to its average volume of 1,807,241. The stock has a market cap of $15.40 billion, a P/E ratio of 36.89 and a beta of 1.56. Teradyne has a twelve month low of $81.07 and a twelve month high of $119.20. The company has a fifty day moving average price of $105.25 and a two-hundred day moving average price of $100.37.

Wall Street Analyst Weigh In

TER has been the topic of several research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 price target on shares of Teradyne in a research report on Monday, March 4th. Evercore ISI initiated coverage on Teradyne in a research report on Tuesday, April 16th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Teradyne from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $113.73.

Insider Buying and Selling

In related news, Director Ernest E. Maddock bought 1,000 shares of Teradyne stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $94.07 per share, for a total transaction of $94,070.00. Following the acquisition, the director now owns 4,728 shares in the company, valued at $444,762.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Sanjay Mehta sold 1,083 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $110.95, for a total transaction of $120,158.85. Following the completion of the transaction, the chief financial officer now directly owns 45,107 shares in the company, valued at $5,004,621.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest E. Maddock purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $94.07 per share, with a total value of $94,070.00. Following the completion of the acquisition, the director now owns 4,728 shares of the company’s stock, valued at $444,762.96. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 11,797 shares of company stock worth $1,248,237. 0.18% 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.