Teradyne, Inc. (NASDAQ:TER) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,965,835 shares of the company's stock after selling 72,650 shares during the period. Primecap Management Co. CA owned approximately 1.21% of Teradyne worth $263,284,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Teradyne by 1.3% in 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 last quarter. Van ECK Associates Corp boosted its stake in shares of Teradyne by 6.3% during the third 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 during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Teradyne by 18.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company's stock worth $325,814,000 after buying an additional 374,522 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Teradyne by 2.2% in 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 purchasing an additional 47,157 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Teradyne by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 861,030 shares of the company's stock valued at $127,684,000 after purchasing an additional 15,907 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Price Performance

Shares of TER opened at $103.58 on Thursday. The company's 50-day moving average is $120.92 and its 200-day moving average is $131.83. Teradyne, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $163.21. The firm has a market capitalization of $16.87 billion, a PE ratio of 32.88, a PEG ratio of 2.22 and a beta of 1.52.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $737.30 million for the quarter, compared to the consensus estimate of $716.40 million. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. The business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Analysts predict that Teradyne, Inc. will post 3.17 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, November 25th. Teradyne's payout ratio is currently 15.24%.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TER shares. Cantor Fitzgerald raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $160.00 price objective for the company in a research note on Friday, August 16th. Northland Securities cut their price objective on shares of Teradyne from $126.00 to $117.00 and set a "market perform" rating on the stock in a report on Friday, October 25th. Susquehanna boosted their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock a "positive" rating in a research report on Friday, July 26th. Craig Hallum lowered their price objective on shares of 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 reduced their price target on shares of Teradyne from $185.00 to $162.00 and set a "buy" rating for the company in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $142.62.

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 sale, the insider now directly owns 21,864 shares in the company, valued at $2,903,539.20. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mercedes Johnson sold 625 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total value of $83,431.25. Following the transaction, the director now directly owns 16,518 shares of the company's stock, valued at $2,204,987.82. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,199 shares of company stock valued at $1,080,634. 0.36% of the stock is owned by company insiders.

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.

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