Cornercap Investment Counsel Inc. Takes Position in Teradyne, Inc. (NASDAQ:TER)

Cornercap Investment Counsel Inc. bought a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,016 shares of the company's stock, valued at approximately $806,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TER. Swedbank AB lifted its position in shares of Teradyne by 198.8% during the 2nd quarter. Swedbank AB now owns 641,614 shares of the company's stock valued at $95,145,000 after buying an additional 426,900 shares in the last quarter. Ossiam boosted its position in shares of Teradyne by 13,540.0% in the first quarter. Ossiam now owns 419,977 shares of the company's stock worth $47,386,000 after purchasing an additional 416,898 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. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Teradyne by 4,695.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 290,249 shares of the company's stock valued at $43,041,000 after purchasing an additional 284,197 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Teradyne during the 2nd quarter valued at $41,467,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Teradyne

In related news, CEO Gregory Stephen Smith sold 3,080 shares of the firm's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the transaction, the chief executive officer now owns 83,816 shares of the company's stock, valued at $10,896,080. This trade represents a 3.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Mehta sold 6,153 shares of the business's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total transaction of $818,718.18. Following the completion of the sale, the chief financial officer now directly owns 35,834 shares of the company's stock, valued at approximately $4,768,072.04. This trade represents a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,352 shares of company stock worth $1,899,353. Insiders own 0.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TER. Evercore ISI increased their price target on Teradyne from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. StockNews.com raised Teradyne from a "sell" rating to a "hold" rating in a research note on Sunday, October 27th. Northland Securities dropped their price target on Teradyne from $126.00 to $117.00 and set a "market perform" rating for the company in a research note on Friday, October 25th. Citigroup cut their price objective on shares of Teradyne from $185.00 to $162.00 and set a "buy" rating for the company in a report on Friday, July 26th. Finally, Robert W. Baird dropped their target price on shares of Teradyne from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $142.62.

Teradyne Stock Performance

TER stock traded down $3.94 during midday trading on Friday, reaching $102.58. 3,091,875 shares of the company traded hands, compared to its average volume of 2,042,539. The firm has a market capitalization of $16.71 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.31 and a beta of 1.52. Teradyne, Inc. has a 52-week low of $90.24 and a 52-week high of $163.21. The business has a 50 day moving average of $122.33 and a 200-day moving average of $132.01.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share 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%. Teradyne's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Research analysts anticipate that Teradyne, Inc. will post 3.15 earnings per share for the current year.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, November 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.47%. Teradyne's dividend payout ratio is presently 15.24%.

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

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.