Cerity Partners LLC acquired a new stake in Teradyne, Inc. (NASDAQ:TER – Get Rating) during the second quarter, HoldingsChannel reports. The fund acquired 2,302 shares of the company’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its holdings in Teradyne by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 44,335 shares of the company’s stock valued at $5,242,000 after buying an additional 135 shares in the last quarter. Bank of America Corp DE grew its holdings in Teradyne by 2,844.1% in the 1st quarter. Bank of America Corp DE now owns 1,032,783 shares of the company’s stock valued at $122,106,000 after buying an additional 997,703 shares in the last quarter. Elo Mutual Pension Insurance Co grew its holdings in Teradyne by 1.5% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 12,821 shares of the company’s stock valued at $1,516,000 after buying an additional 194 shares in the last quarter. M&T Bank Corp lifted its position in shares of Teradyne by 6.3% during the 1st quarter. M&T Bank Corp now owns 4,731 shares of the company’s stock valued at $560,000 after acquiring an additional 280 shares during the period. Finally, Kentucky Retirement Systems lifted its position in shares of Teradyne by 5.4% during the 1st quarter. Kentucky Retirement Systems now owns 10,390 shares of the company’s stock valued at $1,228,000 after acquiring an additional 528 shares during the period. 98.52% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TER. Cowen cut their target price on Teradyne to $110.00 in a research report on Thursday, October 27th. UBS Group cut their target price on Teradyne from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. DA Davidson cut their target price on Teradyne from $120.00 to $105.00 in a research report on Thursday, October 27th. KeyCorp cut their target price on Teradyne from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Finally, TheStreet downgraded Teradyne from a “b-” rating to a “c+” rating in a research report on Thursday, October 13th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.65.
Teradyne Trading Up 2.0 %
Teradyne (NASDAQ:TER – Get Rating) last posted its earnings results on Tuesday, October 25th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.04 by $0.11. The firm had revenue of $827.07 million during the quarter, compared to the consensus estimate of $800.20 million. Teradyne had a return on equity of 33.39% and a net margin of 23.38%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. As a group, analysts predict that Teradyne, Inc. will post 4.07 earnings per share for the current fiscal year.
Teradyne Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Monday, November 28th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $0.44 annualized dividend and a yield of 0.47%. Teradyne’s dividend payout ratio is presently 9.84%.
In other news, insider Brad Robbins sold 3,144 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $75.84, for a total value of $238,440.96. Following the completion of the sale, the insider now owns 44,755 shares of the company’s stock, valued at $3,394,219.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.
Teradyne Company Profile
Teradyne, Inc designs, develops, manufactures, sells, and supports automatic test equipment worldwide. The company operates through Semiconductor Test, System Test, Industrial Automation, and Wireless Test segments. The Semiconductor Test segment offers products and services for wafer level and device package testing in automotive, industrial, communications, consumer, smartphones, cloud computer and electronic game, and other applications.
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