ICICI Prudential Asset Management Co Ltd Sells 5,530 Shares of Teradyne, Inc. (NASDAQ:TER)

ICICI Prudential Asset Management Co Ltd cut its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 12.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,717 shares of the company's stock after selling 5,530 shares during the quarter. ICICI Prudential Asset Management Co Ltd's holdings in Teradyne were worth $5,051,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TER. Ashton Thomas Private Wealth LLC acquired a new position in shares of Teradyne during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in Teradyne in the 3rd quarter valued at $29,000. Rothschild Investment LLC acquired a new position in Teradyne in the 2nd quarter valued at $33,000. Quarry LP grew its holdings in Teradyne by 256.1% in the 2nd quarter. Quarry LP now owns 235 shares of the company's stock valued at $35,000 after buying an additional 169 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in Teradyne by 76.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 273 shares of the company's stock valued at $40,000 after buying an additional 118 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus decreased their price objective on Teradyne from $140.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Teradyne from $120.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. Cantor Fitzgerald raised Teradyne from a "neutral" rating to an "overweight" rating and set a $160.00 price objective on the stock in a report on Friday, August 16th. Craig Hallum cut their target price 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, Citigroup cut their target price on Teradyne from $185.00 to $162.00 and set a "buy" rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $142.62.

Teradyne Price Performance

Shares of TER stock traded down $1.95 on Wednesday, hitting $106.38. 1,732,904 shares of the company's stock were exchanged, compared to its average volume of 2,040,227. Teradyne, Inc. has a 12 month low of $89.15 and a 12 month high of $163.21. The stock has a market cap of $17.33 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 2.36 and a beta of 1.52. The company has a 50 day moving average of $123.50 and a 200 day moving average of $132.48.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The business had revenue of $737.30 million during the quarter, compared to the consensus estimate of $716.40 million. During the same period in the prior year, the company earned $0.80 EPS. Teradyne's revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts predict that Teradyne, Inc. will post 3.15 EPS for the current fiscal year.

Teradyne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be issued 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 yield of 0.45%. Teradyne's payout ratio is presently 15.24%.

Teradyne declared that its Board of Directors has initiated a stock repurchase program on Monday, November 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 3,080 shares of the company's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the transaction, the chief executive officer now owns 83,816 shares of the company's stock, valued at $10,896,080. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Richard John Burns sold 789 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $104,779.20. Following the completion of the sale, the insider now owns 21,864 shares of the company's stock, valued at approximately $2,903,539.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Stephen Smith sold 3,080 shares of the 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 completion of the sale, the chief executive officer now directly owns 83,816 shares of the company's stock, valued at approximately $10,896,080. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,352 shares of company stock valued at $1,899,353 in the last 90 days. Corporate insiders own 0.36% of the company's stock.

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.