Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 16,584 Teradyne, Inc. (NASDAQ:TER)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Teradyne, Inc. (NASDAQ:TER) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,584 shares of the company’s stock, valued at approximately $2,221,000.

Other large investors also recently modified their holdings of the company. Swedbank AB boosted its stake in Teradyne by 198.8% during the 2nd quarter. Swedbank AB now owns 641,614 shares of the company’s stock valued at $95,145,000 after purchasing an additional 426,900 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Teradyne in the second quarter valued at approximately $1,619,000. SG Americas Securities LLC boosted its position in shares of Teradyne by 65.1% during the second quarter. SG Americas Securities LLC now owns 36,515 shares of the company’s stock valued at $5,415,000 after buying an additional 14,395 shares during the last quarter. Cetera Investment Advisers grew its holdings in Teradyne by 161.6% during the first quarter. Cetera Investment Advisers now owns 19,075 shares of the company’s stock worth $2,152,000 after buying an additional 11,782 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in Teradyne in the 2nd quarter valued at $236,000. 99.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Northland Securities cut their price target on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Craig Hallum decreased 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. Evercore ISI boosted their target price on Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $142.62.

Insider Activity at Teradyne

In other news, insider Richard John Burns sold 789 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 21,864 shares in the company, valued at $2,903,539.20. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Stephen Smith sold 3,080 shares of the 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 sale, the chief executive officer now owns 83,816 shares in the company, valued at $10,896,080. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,199 shares of company stock worth $1,080,634. 0.18% of the stock is owned by company insiders.

Teradyne Price Performance

Shares of TER opened at $110.67 on Tuesday. The firm has a market cap of $18.02 billion, a PE ratio of 35.13, a PEG ratio of 2.34 and a beta of 1.52. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21. The stock’s fifty day moving average price is $119.65 and its two-hundred day moving average price is $131.62.

Teradyne (NASDAQ:TER) last released 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 business had revenue of $737.30 million for 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 revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts anticipate that Teradyne, Inc. will post 3.17 earnings per share for the current fiscal year.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, November 25th. Teradyne’s dividend payout ratio (DPR) is presently 15.24%.

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

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.