Huntington National Bank Increases Stake in Teradyne, Inc. (NASDAQ:TER)

Huntington National Bank increased its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 103.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 581 shares of the company’s stock after buying an additional 295 shares during the period. Huntington National Bank’s holdings in Teradyne were worth $78,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TER. Vanguard Group Inc. boosted its stake in shares of Teradyne by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 18,421,186 shares of the company’s stock valued at $2,078,462,000 after buying an additional 135,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Teradyne by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock valued at $682,597,000 after purchasing an additional 57,989 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Teradyne by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock valued at $383,501,000 after purchasing an additional 183,721 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Teradyne by 18.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock valued at $325,814,000 after purchasing an additional 374,522 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Teradyne by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,233,058 shares of the company’s stock valued at $299,073,000 after purchasing an additional 47,157 shares in the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Stock Performance

NASDAQ TER opened at $104.15 on Tuesday. Teradyne, Inc. has a one year low of $90.24 and a one year high of $163.21. The firm has a market cap of $16.96 billion, a PE ratio of 33.06, a P/E/G ratio of 2.22 and a beta of 1.52. The firm’s fifty day moving average is $121.93 and its two-hundred day moving average is $132.16.

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

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

Teradyne Announces Dividend

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

Insider Activity at Teradyne

In other news, insider Richard John Burns sold 789 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $2,903,539.20. This represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mercedes Johnson sold 625 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $133.49, for a total value of $83,431.25. Following the completion of the sale, the director now directly owns 16,518 shares of the company’s stock, valued at $2,204,987.82. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,199 shares of company stock worth $1,080,634 in the last three months. Insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI raised 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. Stifel Nicolaus decreased 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 lowered their price target on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Susquehanna raised their price objective on shares of Teradyne from $130.00 to $145.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, Cantor Fitzgerald upgraded shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.