Ontario Teachers Pension Plan Board Cuts Stake in Teradyne, Inc. (NASDAQ:TER)

Ontario Teachers Pension Plan Board lessened its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 29.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,986 shares of the company’s stock after selling 820 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Teradyne were worth $266,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Teradyne by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock worth $682,597,000 after acquiring an additional 57,989 shares during the last quarter. Van ECK Associates Corp boosted its position in Teradyne by 6.3% during the third quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock worth $383,501,000 after purchasing an additional 183,721 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Teradyne by 18.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock worth $325,814,000 after purchasing an additional 374,522 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Teradyne by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,233,058 shares of the company’s stock valued at $299,073,000 after purchasing an additional 47,157 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Teradyne by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,030 shares of the company’s stock valued at $127,684,000 after buying an additional 15,907 shares in the last quarter. Institutional investors own 99.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TER shares. Evercore ISI lifted their price objective on shares of Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Craig Hallum reduced their price target on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus decreased their price objective 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 upgraded Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Finally, Robert W. Baird decreased their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $142.62.

Insider Buying and Selling

In related news, Director Mercedes Johnson sold 625 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 $83,000.00. Following the transaction, the director now owns 15,893 shares in the company, valued at $2,110,590.40. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard John Burns sold 789 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total transaction of $104,779.20. Following the sale, the insider now owns 21,864 shares of the company’s stock, valued at approximately $2,903,539.20. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,199 shares of company stock worth $1,080,634 in the last quarter. 0.36% of the stock is owned by insiders.

Teradyne Price Performance

TER stock opened at $108.21 on Friday. The firm has a 50 day simple moving average of $120.00 and a two-hundred day simple moving average of $131.55. The stock has a market cap of $17.62 billion, a PE ratio of 34.35, a P/E/G ratio of 2.22 and a beta of 1.52. Teradyne, Inc. has a one year low of $90.24 and a one year high of $163.21.

Teradyne (NASDAQ:TER) last announced its earnings results 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 net margin of 18.75% and a return on equity of 18.56%. The company had revenue of $737.30 million during the quarter, compared to analyst estimates of $716.40 million. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts expect that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne announced that its Board of Directors has authorized a stock buyback plan on Monday, November 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 0.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be issued 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 dividend yield of 0.44%. Teradyne’s dividend payout ratio is 15.24%.

Teradyne 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.