Teradyne, Inc. (NASDAQ:TER) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 5.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,288,493 shares of the company’s stock after selling 78,936 shares during the period. Citigroup Inc. owned approximately 0.79% of Teradyne worth $172,568,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Teradyne by 1.3% in 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 increased its holdings in Teradyne by 6.3% in the third quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock valued at $383,501,000 after buying an additional 183,721 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position 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 worth $325,814,000 after acquiring an additional 374,522 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Teradyne by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,233,058 shares of the company’s stock worth $299,073,000 after acquiring an additional 47,157 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Teradyne by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 968,841 shares of the company’s stock valued at $129,757,000 after acquiring an additional 49,115 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insider Activity at Teradyne

In related news, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $2,204,987.82. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard John Burns sold 789 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total transaction 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. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,199 shares of company stock valued at $1,080,634 over the last three months. 0.36% of the stock is owned by corporate insiders.

Teradyne Stock Up 1.6 %

Shares of NASDAQ TER opened at $105.24 on Friday. The business’s 50 day moving average is $120.46 and its two-hundred day moving average is $131.65. Teradyne, Inc. has a 52-week low of $90.24 and a 52-week high of $163.21. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.22 and a beta of 1.52.

Teradyne (NASDAQ:TER) last released its earnings results 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 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 firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Analysts anticipate that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne announced that its Board of Directors has approved a stock buyback plan on Monday, November 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 0.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Teradyne Dividend Announcement

The firm 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. 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 15.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TER. Craig Hallum lowered their price target on Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. Cantor Fitzgerald upgraded shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Friday, August 16th. 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, Citigroup cut their price objective on Teradyne from $185.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Teradyne presently has an average rating of “Hold” and an average price target of $142.62.

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.