CIBC Asset Management Inc Grows Stake in Teradyne, Inc. (NASDAQ:TER)

CIBC Asset Management Inc increased its holdings in Teradyne, Inc. (NASDAQ:TER) by 12.0% during the third quarter, Holdings Channel reports. The firm owned 23,439 shares of the company’s stock after acquiring an additional 2,505 shares during the quarter. CIBC Asset Management Inc’s holdings in Teradyne were worth $3,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TER. Ashton Thomas Private Wealth LLC purchased a new position in shares of Teradyne in the second quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in Teradyne in the 3rd quarter valued at $29,000. Rothschild Investment LLC purchased a new stake in Teradyne in the 2nd quarter worth $33,000. Quarry LP boosted its holdings in shares of Teradyne by 256.1% during the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock valued at $35,000 after purchasing an additional 169 shares during the last quarter. Finally, Tortoise Investment Management LLC grew 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 valued at $40,000 after purchasing an additional 118 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Price Performance

Teradyne stock opened at $104.15 on Tuesday. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.52. The firm has a 50-day moving average of $121.93 and a two-hundred day moving average of $132.16. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Research analysts expect that Teradyne, Inc. will post 3.17 earnings per share for the current year.

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

Teradyne Announces Dividend

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

Insider Transactions at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the transaction, the chief executive officer now directly owns 83,816 shares of the company’s stock, valued at approximately $10,896,080. The trade was a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mercedes Johnson sold 625 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $133.49, for a total value of $83,431.25. Following the sale, the director now directly owns 16,518 shares in the company, valued at approximately $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 quarter, insiders sold 8,199 shares of company stock valued at $1,080,634. Company insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI increased their price target on Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Citigroup lowered their target price on Teradyne from $185.00 to $162.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Stifel Nicolaus dropped their price objective on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Teradyne from $120.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird decreased their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.