Kentucky Retirement Systems lowered its position in Teradyne, Inc. (NASDAQ:TER – Free Report) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,368 shares of the company’s stock after selling 396 shares during the quarter. Kentucky Retirement Systems’ holdings in Teradyne were worth $1,523,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Coastline Trust Co purchased a new position in Teradyne during the third quarter worth $46,000. Empirical Finance LLC raised its position in shares of Teradyne by 3.2% in the third quarter. Empirical Finance LLC now owns 4,929 shares of the company’s stock valued at $660,000 after buying an additional 153 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Teradyne during the third quarter worth $806,000. CIBC Asset Management Inc lifted its position in Teradyne by 12.0% during the third quarter. CIBC Asset Management Inc now owns 23,439 shares of the company’s stock worth $3,139,000 after buying an additional 2,505 shares during the period. Finally, Lifeworks Advisors LLC purchased a new stake in Teradyne in the third quarter valued at approximately $260,000. Institutional investors and hedge funds own 99.77% of the company’s stock.
Teradyne Price Performance
Shares of TER stock opened at $104.15 on Tuesday. The company’s fifty day moving average price is $121.93 and its two-hundred day moving average price is $132.16. The firm has a market capitalization of $16.96 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.22 and a beta of 1.52. Teradyne, Inc. has a 12 month low of $90.24 and a 12 month high of $163.21.
Teradyne announced that its board has authorized a stock repurchase program on Monday, November 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Teradyne Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.48 dividend on an annualized basis and a yield of 0.46%. Teradyne’s dividend payout ratio (DPR) is 15.24%.
Insiders Place Their Bets
In related news, CEO Gregory Stephen Smith sold 3,080 shares of the company’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 sale, the chief executive officer now directly owns 83,816 shares of the company’s stock, valued at approximately $10,896,080. This represents a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total transaction of $83,431.25. Following the completion of the transaction, the director now directly owns 16,518 shares of the company’s stock, valued at approximately $2,204,987.82. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,199 shares of company stock valued at $1,080,634 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on TER shares. Northland Securities decreased their price target on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Robert W. Baird dropped their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Craig Hallum cut their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus decreased their target price on Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, Evercore ISI increased their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $142.62.
Check Out Our Latest Stock Report on Teradyne
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.
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