NewEdge Wealth LLC Reduces Stock Position in Teradyne, Inc. (NASDAQ:TER)

NewEdge Wealth LLC lowered its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 28.1% during the 4th quarter, HoldingsChannel reports. The fund owned 29,147 shares of the company’s stock after selling 11,416 shares during the period. NewEdge Wealth LLC’s holdings in Teradyne were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Teradyne by 5.4% during the third quarter. State Street Corp now owns 6,880,148 shares of the company’s stock worth $921,458,000 after acquiring an additional 350,002 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Teradyne by 59.9% in the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after buying an additional 1,846,079 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Teradyne by 5.5% in the third quarter. Geode Capital Management LLC now owns 4,011,131 shares of the company’s stock worth $535,484,000 after buying an additional 209,868 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Teradyne by 16.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,825,897 shares of the company’s stock worth $355,837,000 after buying an additional 393,175 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Teradyne by 7.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,390,896 shares of the company’s stock worth $302,582,000 after buying an additional 157,838 shares in the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insider Transactions at Teradyne

In related news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the transaction, the chief executive officer now owns 74,660 shares in the company, valued at $9,705,800. The trade was a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Ryan Driscoll sold 437 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $102.00, for a total value of $44,574.00. Following the transaction, the vice president now owns 4,312 shares in the company, valued at approximately $439,824. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,479 shares of company stock worth $1,013,134. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TER shares. UBS Group lowered their price objective on Teradyne from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. KeyCorp lowered their price objective on Teradyne from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Teradyne in a research report on Thursday, January 30th. Morgan Stanley downgraded Teradyne from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $121.00 to $117.00 in a research report on Tuesday, January 21st. Finally, Susquehanna increased their price objective on Teradyne from $145.00 to $165.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and an average price target of $143.77.

Teradyne Stock Up 1.0 %

NASDAQ TER opened at $109.86 on Friday. The stock’s 50-day simple moving average is $123.51 and its two-hundred day simple moving average is $122.67. Teradyne, Inc. has a twelve month low of $95.80 and a twelve month high of $163.21. The company has a market capitalization of $17.77 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 2.83 and a beta of 1.45.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. On average, equities analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne declared that its Board of Directors has initiated a share repurchase plan on Monday, November 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Teradyne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. Teradyne’s dividend payout ratio is currently 14.41%.

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.