Teradyne board approves stock repurchase

Chip testing equipment maker Teradyne Inc. said Wednesday its board authorized the repurchase of up to $400 million worth of common stock.

Shares will be bought back at the company's discretion, subject to market conditions and other factors.

Teradyne currently has about 183.8 million shares outstanding.

The stock closed earlier down 47 cents, or 4 percent, at $11.42.
(By Chris Reidy, Globe staff)