Bank of Nova Scotia Sells 220,357 Shares of Teradyne, Inc. $TER

Bank of Nova Scotia lessened its position in shares of Teradyne, Inc. (NASDAQ:TER) by 76.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,776 shares of the company’s stock after selling 220,357 shares during the quarter. Bank of Nova Scotia’s holdings in Teradyne were worth $19,796,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Teradyne during the 4th quarter valued at about $28,000. CYBER HORNET ETFs LLC bought a new position in shares of Teradyne in the 2nd quarter valued at about $35,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Teradyne during the 4th quarter worth approximately $37,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Teradyne during the fourth quarter worth approximately $41,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Teradyne by 149.1% during the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company’s stock worth $42,000 after buying an additional 85 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.

Teradyne Trading Down 6.4%

NASDAQ:TER opened at $349.92 on Friday. Teradyne, Inc. has a 1 year low of $89.18 and a 1 year high of $487.91. The stock has a 50-day moving average price of $382.42 and a two-hundred day moving average price of $332.85. The stock has a market cap of $54.78 billion, a price-to-earnings ratio of 64.80, a PEG ratio of 1.01 and a beta of 1.74.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.Teradyne’s quarterly revenue was up 87.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Sell-side analysts forecast that Teradyne, Inc. will post 7.2 earnings per share for the current year.

Teradyne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.52 annualized dividend and a yield of 0.1%. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s payout ratio is presently 9.63%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Teradyne from $350.00 to $446.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Cantor Fitzgerald raised their price target on Teradyne from $400.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Morgan Stanley set a $387.00 price objective on Teradyne in a research note on Thursday, April 30th. Citigroup upped their price target on Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Teradyne from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $394.53.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at $42,192,840.60. The trade was a 6.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $345.37, for a total value of $348,132.96. Following the completion of the sale, the insider owned 15,066 shares in the company, valued at approximately $5,203,344.42. This trade represents a 6.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 14,941 shares of company stock valued at $5,444,112. Company insiders own 0.19% of the company’s stock.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.