Franklin Resources Inc. Raises Stock Holdings in Teradyne, Inc. (NASDAQ:TER)

Franklin Resources Inc. raised its stake in Teradyne, Inc. (NASDAQ:TER) by 30.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,879 shares of the company’s stock after buying an additional 20,762 shares during the quarter. Franklin Resources Inc.’s holdings in Teradyne were worth $11,878,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TER. &PARTNERS acquired a new position in Teradyne during the 2nd quarter worth about $660,000. Retirement Systems of Alabama lifted its position in shares of Teradyne by 2.1% during the second quarter. Retirement Systems of Alabama now owns 34,437 shares of the company’s stock worth $5,107,000 after purchasing an additional 694 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Teradyne by 559.1% in the second quarter. Capital Advisors Ltd. LLC now owns 435 shares of the company’s stock valued at $65,000 after purchasing an additional 369 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Teradyne by 5.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,370 shares of the company’s stock valued at $1,389,000 after purchasing an additional 516 shares in the last quarter. Finally, Checchi Capital Advisers LLC purchased a new stake in Teradyne during the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lowered their target price on Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Craig Hallum decreased their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Northland Securities cut 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 note on Friday, October 25th. Finally, Robert W. Baird cut their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Teradyne presently has an average rating of “Moderate Buy” and an average target price of $147.25.

Teradyne Stock Performance

Teradyne stock opened at $125.95 on Friday. The company has a market capitalization of $20.51 billion, a P/E ratio of 39.98, a PEG ratio of 2.66 and a beta of 1.51. Teradyne, Inc. has a fifty-two week low of $92.29 and a fifty-two week high of $163.21. The stock has a 50-day simple moving average of $114.82 and a 200-day simple moving average of $129.20.

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

Teradyne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th were issued a $0.12 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.38%. Teradyne’s payout ratio is 15.24%.

Teradyne declared that its Board of Directors has authorized a share buyback program on Monday, November 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Teradyne

In related news, Director Mercedes Johnson sold 625 shares of the 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 completion of the transaction, the director now directly owns 15,893 shares of the company’s stock, valued at $2,110,590.40. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. Over the last quarter, insiders sold 4,494 shares of company stock worth $596,803. Company insiders own 0.36% of the company’s stock.

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.