Oppenheimer & Co. Inc. Decreases Stock Position in Teradyne, Inc. (NASDAQ:TER)

Oppenheimer & Co. Inc. trimmed its position in shares of Teradyne, Inc. (NASDAQ:TER) by 25.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,930 shares of the company’s stock after selling 4,340 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Teradyne were worth $1,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Teradyne by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 18,421,186 shares of the company’s stock valued at $2,078,462,000 after acquiring an additional 135,286 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Teradyne by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock worth $682,597,000 after purchasing an additional 57,989 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Teradyne by 6.3% in the third quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock valued at $383,501,000 after purchasing an additional 183,721 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Teradyne by 18.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock valued at $325,814,000 after purchasing an additional 374,522 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Teradyne by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,233,058 shares of the company’s stock worth $299,073,000 after buying an additional 47,157 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Susquehanna raised their target price on Teradyne from $130.00 to $145.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Northland Securities cut their price objective on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating for the company in a research report on Friday, October 25th. Robert W. Baird decreased their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Finally, Stifel Nicolaus reduced their price target on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Teradyne has a consensus rating of “Hold” and a consensus target price of $142.62.

Insider Transactions at Teradyne

In related news, CFO Sanjay Mehta sold 6,153 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total value of $818,718.18. Following the sale, the chief financial officer now owns 35,834 shares of the company’s stock, valued at $4,768,072.04. This trade represents a 14.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the transaction, the chief executive officer now owns 83,816 shares of the company’s stock, valued at $10,896,080. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,352 shares of company stock valued at $1,899,353. 0.36% of the stock is currently owned by company insiders.

Teradyne Trading Down 3.7 %

TER stock opened at $102.58 on Monday. The business’s fifty day moving average price is $122.33 and its 200 day moving average price is $132.25. Teradyne, Inc. has a 12-month low of $90.24 and a 12-month high of $163.21. The company has a market capitalization of $16.71 billion, a PE ratio of 32.57, a P/E/G ratio of 2.22 and a beta of 1.52.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. The business had revenue of $737.30 million for the quarter, compared to analysts’ expectations of $716.40 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts predict that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.47%. Teradyne’s dividend payout ratio (DPR) is 15.24%.

Teradyne announced that its Board of Directors has initiated a share buyback program on Monday, November 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 0.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Teradyne

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.