Buyback Wednesdays – Teradyne Announced a $2 Billion Share Repurchase Program

Buyback activity increased last week with 13 companies announcing buybacks last week compared to 11 companies in the prior week. Seven of these companies were financial companies. Several massive buyback announcements in January helped the month set a multi-year record as seen below.

Teradyne (TER)

The large $2 billion buyback announcement by Teradyne (TER) caught our attention last week. This Massachusetts based, $15.6 billion company delivers manufacturing automation across industries, and applications globally. The company uses robotics to automate tasks and provides automated test equipment (ATE).

Teradyne’s automatic test systems are used to test semiconductors, wireless products, data storage and complex electronics systems in many industries including consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense industries.

On January 25, 2023, Teradyne’s Board authorized a $2 billion share repurchase program and the company expects to repurchase up to $500 million of its common stock in 2023. The Board also declared a quarterly cash dividend of $0.11 per share, payable on March 17, 2023 to shareholders of record as of the close of business on February 17, 2023.

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