Carmel Capital Management L.L.C. Reduces Holdings in Teradyne, Inc. (NASDAQ:TER)

Carmel Capital Management L.L.C. lessened its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,334 shares of the company’s stock after selling 1,100 shares during the period. Teradyne comprises about 2.7% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 17th biggest position. Carmel Capital Management L.L.C.’s holdings in Teradyne were worth $7,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Teradyne during the 3rd quarter valued at $29,000. Quarry LP grew its position in shares of Teradyne by 256.1% in the second quarter. Quarry LP now owns 235 shares of the company’s stock valued at $35,000 after purchasing an additional 169 shares in the last quarter. Coastline Trust Co purchased a new stake in Teradyne during the 3rd quarter worth about $46,000. Brooklyn Investment Group bought a new position in Teradyne in the 3rd quarter worth about $52,000. Finally, Eastern Bank bought a new position in Teradyne in the 3rd quarter worth about $67,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the sale, the chief executive officer now owns 74,660 shares in the company, valued at $9,705,800. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.

Teradyne Stock Performance

NASDAQ:TER opened at $131.83 on Friday. The firm has a market cap of $21.47 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 2.25 and a beta of 1.46. The business has a 50 day moving average price of $123.40 and a 200-day moving average price of $126.81. Teradyne, Inc. has a fifty-two week low of $92.29 and a fifty-two week high of $163.21.

Teradyne (NASDAQ:TER) last issued 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. The firm had revenue of $737.30 million during 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. Research analysts predict that Teradyne, Inc. will post 3.17 EPS for the current year.

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

Teradyne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, November 25th. Teradyne’s payout ratio is 15.24%.

Analyst Ratings Changes

A number of research firms have recently commented on TER. Susquehanna raised their price objective on shares of Teradyne from $145.00 to $165.00 and gave the company a “positive” rating in a research report on Wednesday. Craig Hallum decreased their price target on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Northland Securities raised Teradyne from a “market perform” rating to an “outperform” rating and raised their price target for the company from $117.00 to $154.00 in a report on Monday, January 6th. Morgan Stanley lowered Teradyne from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $121.00 to $117.00 in a report on Tuesday. Finally, Northland Capmk raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

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.