Rockland Trust Co. Trims Stock Position in Teradyne, Inc. (NASDAQ:TER)

Rockland Trust Co. decreased its stake in Teradyne, Inc. (NASDAQ:TER) by 9.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,539 shares of the company’s stock after selling 250 shares during the quarter. Rockland Trust Co.’s holdings in Teradyne were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TER. Fifth Third Wealth Advisors LLC purchased a new position in Teradyne in the fourth quarter valued at $217,000. Tealwood Asset Management Inc. grew its position in shares of Teradyne by 1.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,510 shares of the company’s stock valued at $1,197,000 after acquiring an additional 161 shares during the period. Czech National Bank increased its stake in shares of Teradyne by 6.2% in the 4th quarter. Czech National Bank now owns 35,312 shares of the company’s stock valued at $4,446,000 after purchasing an additional 2,072 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Teradyne by 14.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,499 shares of the company’s stock worth $441,000 after purchasing an additional 452 shares during the period. Finally, Nordea Investment Management AB boosted its position in Teradyne by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 1,522,492 shares of the company’s stock worth $194,407,000 after purchasing an additional 63,218 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $130.00, for a total value of $400,400.00. Following the transaction, the chief executive officer now owns 74,660 shares of the company’s stock, valued at $9,705,800. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northland Capmk upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Evercore ISI upped their price objective on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus dropped their target price on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Northland Securities upgraded shares of Teradyne from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $117.00 to $154.00 in a research report on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.33.

Teradyne Stock Performance

NASDAQ:TER opened at $134.93 on Thursday. Teradyne, Inc. has a one year low of $92.29 and a one year high of $163.21. The stock has a market cap of $21.97 billion, a PE ratio of 42.83, a P/E/G ratio of 2.66 and a beta of 1.46. The stock has a 50 day moving average price of $119.67 and a 200 day moving average price of $127.22.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. As a group, analysts predict that Teradyne, Inc. will post 3.17 earnings per share for the current fiscal year.

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

Teradyne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders 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 annualized dividend and a yield of 0.36%. Teradyne’s payout ratio is 15.24%.

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.