ICICI Prudential Asset Management Co Ltd Reduces Holdings in Teradyne, Inc. (NASDAQ:TER)

ICICI Prudential Asset Management Co Ltd trimmed its stake in Teradyne, Inc. (NASDAQ:TER) by 12.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,717 shares of the company’s stock after selling 5,530 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Teradyne were worth $5,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Swedbank AB grew its position in Teradyne by 198.8% during the 2nd quarter. Swedbank AB now owns 641,614 shares of the company’s stock worth $95,145,000 after purchasing an additional 426,900 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Teradyne by 17.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 335,636 shares of the company’s stock valued at $37,887,000 after purchasing an additional 50,156 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Teradyne in the second quarter valued at about $1,619,000. SG Americas Securities LLC lifted its stake in shares of Teradyne by 65.1% in the second 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 period. Finally, Cetera Investment Advisers lifted its stake in shares of Teradyne by 161.6% in the first quarter. Cetera Investment Advisers now owns 19,075 shares of the company’s stock valued at $2,152,000 after purchasing an additional 11,782 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Teradyne Price Performance

Teradyne stock traded down $1.16 during midday trading on Wednesday, hitting $107.17. 207,002 shares of the company were exchanged, compared to its average volume of 2,032,951. The company’s fifty day moving average price is $123.50 and its 200-day moving average price is $132.48. The company has a market cap of $17.45 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.36 and a beta of 1.52. Teradyne, Inc. has a fifty-two week low of $89.15 and a fifty-two week high of $163.21.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data 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 return on equity of 18.56% and a net margin of 18.75%. The company had revenue of $737.30 million for the quarter, compared to the consensus estimate of $716.40 million. During the same period in the previous year, the business earned $0.80 EPS. Teradyne’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts expect that Teradyne, Inc. will post 3.15 EPS for the current fiscal year.

Teradyne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. Teradyne’s dividend payout ratio (DPR) is 15.24%.

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

Insider Activity

In related news, 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 completion of the transaction, the chief executive officer now owns 83,816 shares in the company, valued at $10,896,080. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Sanjay Mehta sold 6,153 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $133.06, for a total value of $818,718.18. Following the completion of the sale, the chief financial officer now owns 35,834 shares in the company, valued at $4,768,072.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the sale, the chief executive officer now owns 83,816 shares of the company’s stock, valued at approximately $10,896,080. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,352 shares of company stock worth $1,899,353. 0.36% of the stock is currently owned by insiders.

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.