Teradyne, Inc. (NASDAQ:TER) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 20.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,499 shares of the company's stock after selling 35,581 shares during the quarter. Lord Abbett & CO. LLC owned 0.08% of Teradyne worth $18,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TER. State Street Corp boosted its position in Teradyne by 5.4% in the 3rd quarter. State Street Corp now owns 6,880,148 shares of the company's stock worth $921,458,000 after purchasing an additional 350,002 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Teradyne by 1.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company's stock valued at $682,597,000 after buying an additional 57,989 shares during the period. Geode Capital Management LLC increased its holdings in Teradyne by 5.5% in the third quarter. Geode Capital Management LLC now owns 4,011,131 shares of the company's stock valued at $535,484,000 after buying an additional 209,868 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Teradyne by 6.3% in the third quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company's stock worth $383,501,000 after acquiring an additional 183,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Teradyne by 18.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company's stock worth $325,814,000 after acquiring an additional 374,522 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

Shares of TER traded up $6.26 during midday trading on Monday, hitting $129.48. 3,368,823 shares of the stock were exchanged, compared to its average volume of 2,075,105. Teradyne, Inc. has a 52-week low of $92.29 and a 52-week high of $163.21. The stock has a fifty day simple moving average of $115.18 and a 200 day simple moving average of $129.47. The firm has a market cap of $21.09 billion, a P/E ratio of 41.10, a P/E/G ratio of 2.66 and a beta of 1.51.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating 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 business had revenue of $737.30 million during the quarter, compared to analyst estimates of $716.40 million. During the same quarter last year, the firm posted $0.80 earnings per share. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Teradyne, Inc. will post 3.17 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. Investors of record on Monday, November 25th will be paid 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 0.37%. Teradyne's payout ratio is 15.24%.

Teradyne announced that its Board of Directors has authorized a share buyback plan on Monday, November 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Teradyne from a "neutral" rating to an "overweight" rating and increased their target price for the company from $145.00 to $158.00 in a research report on Monday. Robert W. Baird decreased their price objective on shares of Teradyne from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Craig Hallum cut their target price on shares of Teradyne from $124.00 to $111.00 and set a "hold" rating for the company in a research note on Friday, October 25th. Stifel Nicolaus decreased their price target on shares of Teradyne from $140.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, October 25th. Finally, Northland Securities cut their price objective 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Teradyne presently has an average rating of "Moderate Buy" and an average target price of $147.25.

Insider Activity at Teradyne

In other news, insider Richard John Burns sold 789 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total transaction of $104,779.20. Following the completion of the transaction, the insider now directly owns 21,864 shares of the company's stock, valued at approximately $2,903,539.20. This represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $132.80, for a total value of $409,024.00. Following the completion of the transaction, the chief executive officer now directly owns 80,736 shares of the company's stock, valued at $10,721,740.80. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,494 shares of company stock valued at $596,803 over the last 90 days. 0.36% of the stock is owned by corporate insiders.

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.