Connor Clark & Lunn Investment Management Ltd. Invests $2.22 Million in Teradyne, Inc. (NASDAQ:TER)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Teradyne, Inc. (NASDAQ:TER) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,584 shares of the company’s stock, valued at approximately $2,221,000.

A number of other large investors also recently modified their holdings of the company. Swedbank AB grew its position in Teradyne by 198.8% during the second quarter. Swedbank AB now owns 641,614 shares of the company’s stock valued at $95,145,000 after acquiring an additional 426,900 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of Teradyne in the 2nd quarter valued at $1,619,000. SG Americas Securities LLC grew its holdings in shares of Teradyne by 65.1% during the 2nd quarter. SG Americas Securities LLC now owns 36,515 shares of the company’s stock valued at $5,415,000 after purchasing an additional 14,395 shares during the last quarter. Cetera Investment Advisers raised its position in Teradyne by 161.6% in the 1st quarter. Cetera Investment Advisers now owns 19,075 shares of the company’s stock worth $2,152,000 after purchasing an additional 11,782 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in Teradyne in the second quarter worth $236,000. 99.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Teradyne

In other news, insider Richard John Burns sold 789 shares of Teradyne stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $104,779.20. Following the completion of the transaction, the insider now owns 21,864 shares of the company’s stock, valued at $2,903,539.20. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mercedes Johnson sold 625 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $133.49, for a total transaction of $83,431.25. Following the sale, the director now directly owns 16,518 shares in the company, valued at $2,204,987.82. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,199 shares of company stock valued at $1,080,634 in the last three months. Company insiders own 0.18% of the company’s stock.

Teradyne Price Performance

Shares of TER opened at $110.67 on Tuesday. The company has a 50-day simple moving average of $119.65 and a two-hundred day simple moving average of $131.62. The firm has a market capitalization of $18.02 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.52. Teradyne, Inc. has a one year low of $90.24 and a one year high of $163.21.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. Analysts expect that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne declared that its Board of Directors has initiated a stock repurchase program on Monday, November 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Teradyne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, November 25th. Teradyne’s dividend payout ratio is presently 15.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Northland Securities dropped their price objective on Teradyne from $126.00 to $117.00 and set a “market perform” rating for the company in a research note on Friday, October 25th. Cantor Fitzgerald raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a research note on Friday, August 16th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. Finally, Craig Hallum cut their price target on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $142.62.

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.