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).