Teradyne (NASDAQ:TER) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Teradyne (NASDAQ:TER) announced its quarterly earnings data on Wednesday. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09, Briefing.com reports. The business had revenue of $729.88 million for the quarter, compared to analysts’ expectations of $701.20 million. Teradyne had a return on equity of 18.88% and a net margin of 16.15%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Teradyne updated its Q3 2024 guidance to 0.660-0.860 EPS and its Q3 guidance to $0.66-0.86 EPS.

Teradyne Stock Down 13.4 %

Shares of NASDAQ TER traded down $19.20 during mid-day trading on Thursday, reaching $124.34. 6,538,819 shares of the company were exchanged, compared to its average volume of 2,046,196. The company’s 50 day moving average price is $146.94 and its 200 day moving average price is $121.10. Teradyne has a 52 week low of $81.07 and a 52 week high of $163.21. The stock has a market capitalization of $19.41 billion, a PE ratio of 47.28, a PEG ratio of 2.85 and a beta of 1.50.

Teradyne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, May 21st. Teradyne’s dividend payout ratio (DPR) is currently 18.25%.

Insider Buying and Selling at Teradyne

In related news, CFO Sanjay Mehta sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $120.06, for a total value of $450,225.00. Following the completion of the sale, the chief financial officer now owns 41,902 shares in the company, valued at approximately $5,030,754.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Sanjay Mehta sold 3,750 shares of Teradyne stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $120.06, for a total value of $450,225.00. Following the transaction, the chief financial officer now owns 41,902 shares in the company, valued at approximately $5,030,754.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard John Burns sold 5,005 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $137.64, for a total transaction of $688,888.20. Following the completion of the sale, the insider now directly owns 21,780 shares of the company’s stock, valued at $2,997,799.20. The disclosure for this sale can be found here. Insiders have sold 10,005 shares of company stock worth $1,304,763 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TER. Citigroup boosted their price target on shares of Teradyne from $112.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Robert W. Baird boosted their target price on shares of Teradyne from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on Teradyne from $120.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI began coverage on Teradyne in a research note on Tuesday, April 16th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Teradyne from $118.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $142.14.

Teradyne Company Profile

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.