California Public Employees Retirement System Lowers Stock Holdings in Teradyne, Inc. $TER

California Public Employees Retirement System reduced its holdings in Teradyne, Inc. (NASDAQ:TER) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 401,178 shares of the company’s stock after selling 92,070 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of Teradyne worth $36,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in shares of Teradyne by 79.7% during the 2nd quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock valued at $340,353,000 after acquiring an additional 1,679,215 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Teradyne by 26.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,118,297 shares of the company’s stock valued at $286,634,000 after purchasing an additional 652,175 shares during the period. Primecap Management Co. CA increased its position in Teradyne by 58.6% during the second quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company’s stock worth $274,036,000 after purchasing an additional 1,125,868 shares during the last quarter. Invesco Ltd. increased its position in Teradyne by 2.5% during the second quarter. Invesco Ltd. now owns 2,859,466 shares of the company’s stock worth $257,123,000 after purchasing an additional 68,568 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Teradyne by 224.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,851,684 shares of the company’s stock worth $152,949,000 after purchasing an additional 1,280,120 shares during the period. 99.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 1,108 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $180.20, for a total value of $199,661.60. Following the sale, the chief executive officer owned 94,517 shares in the company, valued at approximately $17,031,963.40. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 3,324 shares of company stock worth $494,318. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

TER has been the subject of several research reports. Industrial Alliance Securities set a $175.00 price objective on shares of Teradyne in a research note on Tuesday, October 28th. Stifel Nicolaus set a $225.00 price target on Teradyne and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Northland Securities set a $186.00 price target on Teradyne in a research note on Thursday, October 30th. Zacks Research raised Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley boosted their target price on Teradyne from $100.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Teradyne currently has a consensus rating of “Moderate Buy” and an average target price of $176.88.

Teradyne Stock Up 2.0%

NASDAQ TER opened at $204.01 on Thursday. The stock has a market cap of $31.95 billion, a PE ratio of 74.19, a P/E/G ratio of 2.09 and a beta of 1.85. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $205.00. The business has a 50 day moving average price of $165.66 and a two-hundred day moving average price of $124.74.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Teradyne had a net margin of 15.49% and a return on equity of 18.04%. The company had revenue of $769.21 million for the quarter, compared to analyst estimates of $744.20 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Teradyne, Inc. will post 3.88 EPS for the current fiscal year.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, November 24th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.48 annualized dividend and a yield of 0.2%. Teradyne’s dividend payout ratio is currently 17.45%.

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.