Lord Abbett & CO. LLC Has $18.01 Million Stock Holdings in Teradyne, Inc. (NASDAQ:TER)

Lord Abbett & CO. LLC lowered its position in shares of Teradyne, Inc. (NASDAQ:TER) by 20.9% in the third quarter, Holdings Channel reports. The firm owned 134,499 shares of the company’s stock after selling 35,581 shares during the period. Lord Abbett & CO. LLC’s holdings in Teradyne were worth $18,013,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Alkeon Capital Management LLC grew its holdings in shares of Teradyne by 189.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,144,017 shares of the company’s stock valued at $153,218,000 after buying an additional 749,003 shares during the period. Holocene Advisors LP bought a new position in Teradyne during the third quarter worth about $91,129,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Teradyne by 18.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock valued at $325,814,000 after acquiring an additional 374,522 shares during the period. State Street Corp increased its holdings in shares of Teradyne by 5.4% in 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. Finally, Eagle Asset Management Inc. raised its position in shares of Teradyne by 70.8% during the third quarter. Eagle Asset Management Inc. now owns 742,207 shares of the company’s stock worth $99,404,000 after purchasing an additional 307,724 shares during the period. Institutional investors own 99.77% of the company’s stock.

Teradyne Stock Up 1.9 %

Shares of NASDAQ:TER opened at $123.22 on Monday. Teradyne, Inc. has a 12-month low of $92.29 and a 12-month high of $163.21. The business has a 50 day moving average of $115.18 and a 200-day moving average of $129.55. The stock has a market cap of $20.07 billion, a PE ratio of 39.12, a P/E/G ratio of 2.66 and a beta of 1.51.

Teradyne (NASDAQ:TER) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $737.30 million during the quarter, compared to the consensus estimate of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Equities research analysts expect that Teradyne, Inc. will post 3.17 earnings per share for the current year.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be given 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 0.39%. Teradyne’s payout ratio is 15.24%.

Teradyne declared that its Board of Directors has initiated a share repurchase program on Monday, November 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on TER. Robert W. Baird cut their price target on shares of Teradyne from $140.00 to $133.00 and set an “outperform” 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 research note on Sunday, October 27th. Evercore ISI lifted their price target on 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 objective on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Northland Securities dropped their target price on Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

Insider Activity at Teradyne

In other Teradyne news, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction dated Tuesday, October 1st. The stock was 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. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,721,740.80. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,494 shares of company stock worth $596,803. Company insiders own 0.36% of the company’s stock.

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.