Sumitomo Mitsui Trust Group Inc. Buys 374,522 Shares of Teradyne, Inc. (NASDAQ:TER)

Sumitomo Mitsui Trust Group Inc. boosted its position in Teradyne, Inc. (NASDAQ:TER) by 18.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,432,722 shares of the company’s stock after purchasing an additional 374,522 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Teradyne were worth $325,814,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in Teradyne during the third quarter worth approximately $647,000. Apollon Wealth Management LLC raised its holdings in shares of Teradyne by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 2,362 shares of the company’s stock valued at $316,000 after acquiring an additional 159 shares during the last quarter. Venturi Wealth Management LLC increased its position in Teradyne by 33.6% during the third quarter. Venturi Wealth Management LLC now owns 3,275 shares of the company’s stock worth $439,000 after purchasing an additional 823 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Teradyne by 1.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 55,794 shares of the company’s stock worth $7,472,000 after purchasing an additional 1,036 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Teradyne by 4.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 647,013 shares of the company’s stock worth $86,654,000 after purchasing an additional 25,370 shares during the period. 99.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

TER has been the subject of several research analyst reports. Susquehanna raised their price objective on Teradyne from $130.00 to $145.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Cantor Fitzgerald upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a research report on Friday, August 16th. Robert W. Baird reduced their target price on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Craig Hallum reduced their price objective 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. Finally, Northland Securities dropped their target price on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Teradyne currently has an average rating of “Hold” and an average target price of $142.62.

Teradyne Stock Down 1.9 %

TER opened at $108.81 on Tuesday. Teradyne, Inc. has a 52 week low of $85.75 and a 52 week high of $163.21. The business’s 50 day moving average is $123.83 and its two-hundred day moving average is $132.52. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 2.41 and a beta of 1.52.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $737.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities analysts expect that Teradyne, Inc. will post 3.15 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. Shareholders of record on Monday, November 25th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. Teradyne’s payout ratio is 15.24%.

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

Insider Buying and Selling at Teradyne

In related news, Director Mercedes Johnson sold 625 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $83,000.00. Following the sale, the director now owns 15,893 shares of the company’s stock, valued at approximately $2,110,590.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory Stephen Smith sold 3,080 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total transaction of $400,400.00. Following the sale, the chief executive officer now owns 83,816 shares in the company, valued at approximately $10,896,080. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mercedes Johnson sold 625 shares of the company’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 $83,000.00. Following the transaction, the director now directly owns 15,893 shares of the company’s stock, valued at approximately $2,110,590.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,352 shares of company stock valued at $1,899,353. Insiders own 0.36% of the company’s stock.

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.