Kovitz Investment Group Partners LLC Sells 2,975 Shares of Teradyne, Inc. (NASDAQ:TER)

Kovitz Investment Group Partners LLC reduced its position in Teradyne, Inc. (NASDAQ:TER) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,364 shares of the company’s stock after selling 2,975 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Teradyne were worth $1,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TER. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Teradyne during the second quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in Teradyne during the 3rd quarter valued at approximately $29,000. Rothschild Investment LLC bought a new stake in shares of Teradyne during the second quarter valued at approximately $33,000. Quarry LP lifted its holdings in shares of Teradyne by 256.1% in the second quarter. Quarry LP now owns 235 shares of the company’s stock worth $35,000 after buying an additional 169 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in shares of Teradyne by 76.1% during the second quarter. Tortoise Investment Management LLC now owns 273 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Down 2.1 %

Shares of NASDAQ:TER opened at $117.03 on Wednesday. Teradyne, Inc. has a 12 month low of $92.29 and a 12 month high of $163.21. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 2.56 and a beta of 1.51. The firm’s 50-day moving average is $115.95 and its 200 day moving average is $130.21.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm had revenue of $737.30 million for the quarter, compared to analysts’ expectations of $716.40 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne announced that its board has authorized a share buyback program on Monday, November 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, November 25th. Teradyne’s dividend payout ratio is currently 15.24%.

Insider Activity

In other Teradyne news, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total transaction of $83,000.00. Following the completion of the sale, the director now directly owns 15,893 shares of the company’s stock, valued at $2,110,590.40. The trade was a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard John Burns sold 789 shares of the company’s stock in a transaction on 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 $2,903,539.20. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,494 shares of company stock valued at $596,803. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TER shares. StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Northland Securities decreased their target price on Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Craig Hallum cut their price target on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Evercore ISI lifted their price objective on Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus cut their target price on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a report on Friday, October 25th. 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $142.62.

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.