M&T Bank Corp Has $1.16 Million Stake in Teradyne, Inc. (NASDAQ:TER)

M&T Bank Corp grew its stake in Teradyne, Inc. (NASDAQ:TER) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,645 shares of the company’s stock after purchasing an additional 2,519 shares during the period. M&T Bank Corp’s holdings in Teradyne were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TER. Nomura Asset Management Co. Ltd. boosted its position in Teradyne by 17.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock valued at $10,325,000 after buying an additional 11,541 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Teradyne in the 3rd quarter valued at $571,000. National Bank of Canada FI boosted its holdings in shares of Teradyne by 210.2% during the 3rd quarter. National Bank of Canada FI now owns 207,536 shares of the company’s stock valued at $27,795,000 after acquiring an additional 140,633 shares in the last quarter. EP Wealth Advisors LLC grew its position in Teradyne by 15.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 3,493 shares of the company’s stock worth $468,000 after acquiring an additional 466 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Teradyne by 9.1% in the 3rd quarter. Wellington Management Group LLP now owns 10,684 shares of the company’s stock worth $1,431,000 after purchasing an additional 890 shares in the last quarter. 99.77% of the stock is owned by institutional investors.

Insider Activity at Teradyne

In related news, insider Richard John Burns sold 789 shares of Teradyne stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total value of $104,779.20. Following the completion of the sale, the insider now owns 21,864 shares of the company’s stock, valued at approximately $2,903,539.20. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total transaction of $409,024.00. Following the transaction, the chief executive officer now owns 80,736 shares in the company, valued at approximately $10,721,740.80. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,494 shares of company stock worth $596,803 in the last quarter. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

TER has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target on Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Northland Securities dropped their price target on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating for the company in a research note on Friday, October 25th. Craig Hallum reduced their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird lowered their target price on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Teradyne has a consensus rating of “Moderate Buy” and an average price target of $146.17.

Teradyne Trading Up 1.9 %

Shares of TER opened at $123.22 on Monday. The firm’s fifty day simple moving average is $115.18 and its two-hundred day simple moving average is $129.55. Teradyne, Inc. has a 12 month low of $92.29 and a 12 month high of $163.21. The stock has a market capitalization of $20.07 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 2.66 and a beta of 1.51.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $737.30 million for the quarter, compared to analyst estimates of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, research analysts predict that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne announced that its board has authorized a share buyback program on Monday, November 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Teradyne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.39%. Teradyne’s dividend payout ratio is currently 15.24%.

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.