Parnassus Investments LLC Sells 52,317 Shares of Teradyne, Inc. (NASDAQ:TER)

Parnassus Investments LLC trimmed its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 19.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,335 shares of the company's stock after selling 52,317 shares during the period. Parnassus Investments LLC owned 0.14% of Teradyne worth $29,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Teradyne by 0.7% during the first quarter. Vanguard Group Inc. now owns 18,421,186 shares of the company's stock valued at $2,078,462,000 after acquiring an additional 135,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Teradyne by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company's stock valued at $682,597,000 after purchasing an additional 57,989 shares during the period. Van ECK Associates Corp raised its stake in shares of Teradyne by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company's stock worth $383,501,000 after buying an additional 183,721 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 valued at $325,814,000 after buying an additional 374,522 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Teradyne by 2.2% during 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 buying an additional 47,157 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TER has been the topic of several research reports. Robert W. Baird cut their price objective on Teradyne from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Evercore ISI raised their price objective on shares of 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 shares of Teradyne from a "sell" rating to a "hold" rating in a research note on Sunday, October 27th. Northland Securities decreased their price objective on Teradyne from $126.00 to $117.00 and set a "market perform" rating for the company in a research report on Friday, October 25th. Finally, Citigroup lowered their target price on Teradyne from $185.00 to $162.00 and set a "buy" rating on the stock in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $142.62.

Insider Transactions at Teradyne

In related news, Director Mercedes Johnson sold 625 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $133.49, for a total value of $83,431.25. Following the completion of the transaction, the director now owns 16,518 shares of the company's stock, valued at $2,204,987.82. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard John Burns sold 789 shares of Teradyne stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total value of $104,779.20. Following the sale, the insider now directly owns 21,864 shares in the company, valued at $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. In the last quarter, insiders have sold 8,199 shares of company stock valued at $1,080,634. 0.18% of the stock is owned by corporate insiders.

Teradyne Stock Performance

Shares of TER traded down $1.35 during mid-day trading on Tuesday, hitting $102.80. The company's stock had a trading volume of 2,031,738 shares, compared to its average volume of 2,046,168. The stock's 50-day moving average is $121.93 and its two-hundred day moving average is $132.16. The firm has a market capitalization of $16.74 billion, a PE ratio of 32.63, a price-to-earnings-growth 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 - Get Free Report) last posted its quarterly 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. The company had revenue of $737.30 million for the quarter, compared to analyst estimates of $716.40 million. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. Analysts expect that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 0.47%. Teradyne's dividend payout ratio is currently 15.24%.

Teradyne declared that its Board of Directors has initiated a share buyback plan on Monday, November 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are 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.