Teradyne, Inc. $TER Position Cut by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 41.6% during the first quarter, Holdings Channel.com reports. The firm owned 191,980 shares of the company’s stock after selling 136,958 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Teradyne were worth $56,914,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TER. State Street Corp raised its position in shares of Teradyne by 0.9% during the 4th quarter. State Street Corp now owns 7,078,635 shares of the company’s stock worth $1,370,141,000 after buying an additional 60,986 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Teradyne by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock valued at $442,413,000 after acquiring an additional 143,058 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Teradyne by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company’s stock valued at $813,640,000 after acquiring an additional 659,273 shares during the period. Invesco Ltd. increased its stake in shares of Teradyne by 3.5% during the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company’s stock valued at $407,322,000 after acquiring an additional 99,864 shares during the period. Finally, Morgan Stanley raised its holdings in Teradyne by 1.9% during the fourth quarter. Morgan Stanley now owns 2,442,014 shares of the company’s stock worth $472,677,000 after purchasing an additional 45,089 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the sale, the chief executive officer owned 120,470 shares in the company, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the sale, the vice president directly owned 7,665 shares of the company’s stock, valued at approximately $2,894,304. This represents a 8.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,941 shares of company stock valued at $5,444,112 over the last quarter. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 target price for the company in a research note on Thursday, April 30th. The Goldman Sachs Group upped their price target on shares of Teradyne from $350.00 to $465.00 and gave the company a “buy” rating in a report on Monday, July 6th. Morgan Stanley set a $387.00 price objective on shares of Teradyne in a research report on Thursday, April 30th. Zacks Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Bank of America boosted their target price on shares of Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.53.

Teradyne Trading Down 4.3%

Shares of TER stock opened at $334.77 on Tuesday. The company has a market capitalization of $52.40 billion, a price-to-earnings ratio of 61.99, a P/E/G ratio of 1.01 and a beta of 1.74. Teradyne, Inc. has a 1-year low of $89.18 and a 1-year high of $487.91. The stock’s fifty day simple moving average is $382.69 and its 200-day simple moving average is $334.39.

Teradyne (NASDAQ:TER) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 22.55% and a return on equity of 31.79%. The firm’s revenue was up 87.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, sell-side analysts predict that Teradyne, Inc. will post 7.2 EPS for the current year.

Teradyne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.13 per share. This is a positive change from Teradyne’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.2%. Teradyne’s dividend payout ratio (DPR) is currently 9.63%.

Teradyne Company Profile

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.