Quest Partners LLC Sells 943 Shares of Teradyne, Inc. (NASDAQ:TER)

Quest Partners LLC reduced its stake in Teradyne, Inc. (NASDAQ:TER) by 28.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,351 shares of the company’s stock after selling 943 shares during the quarter. Quest Partners LLC’s holdings in Teradyne were worth $315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TER. Swedbank AB increased its position in shares of Teradyne by 198.8% during the second quarter. Swedbank AB now owns 641,614 shares of the company’s stock worth $95,145,000 after acquiring an additional 426,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Teradyne by 18.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock worth $325,814,000 after acquiring an additional 374,522 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Teradyne by 4,695.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 290,249 shares of the company’s stock worth $43,041,000 after acquiring an additional 284,197 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Teradyne during the second quarter worth about $41,467,000. Finally, Principal Financial Group Inc. increased its position in shares of Teradyne by 105.2% during the second quarter. Principal Financial Group Inc. now owns 527,417 shares of the company’s stock worth $78,211,000 after acquiring an additional 270,396 shares in the last quarter. 99.77% of the stock is owned by institutional investors.

Teradyne Stock Up 2.3 %

TER opened at $110.67 on Tuesday. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.34 and a beta of 1.52. Teradyne, Inc. has a twelve month low of $90.24 and a twelve month high of $163.21. The company’s 50-day moving average price is $119.65 and its two-hundred day moving average price is $131.62.

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

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, November 25th. Teradyne’s payout ratio is currently 15.24%.

Teradyne announced that its board has authorized a share buyback program on Monday, November 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Craig Hallum decreased their target price on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Robert W. Baird reduced their price objective on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research report on Sunday, October 27th. 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. Finally, Cantor Fitzgerald raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price objective for the company in a research report on Friday, August 16th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $142.62.

Insider Activity at Teradyne

In related news, Director Mercedes Johnson sold 625 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total transaction of $83,000.00. Following the sale, the director now directly owns 15,893 shares in the company, valued at approximately $2,110,590.40. This represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Stephen Smith sold 3,080 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the sale, the chief executive officer now directly 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 ninety days, insiders have sold 8,199 shares of company stock worth $1,080,634. 0.18% of the stock is owned by corporate insiders.

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.