Rockland Trust Co. Decreases Stock Holdings in Teradyne, Inc. (NASDAQ:TER)

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

A number of other large investors have also recently made changes to their positions in TER. State Street Corp raised its stake in shares of Teradyne by 5.4% in the third quarter. State Street Corp now owns 6,880,148 shares of the company’s stock valued at $921,458,000 after acquiring an additional 350,002 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Teradyne by 1.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock worth $682,597,000 after purchasing an additional 57,989 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teradyne by 5.5% during the third quarter. Geode Capital Management LLC now owns 4,011,131 shares of the company’s stock valued at $535,484,000 after buying an additional 209,868 shares during the period. Van ECK Associates Corp boosted its position in shares of Teradyne by 6.3% during the third quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock valued at $383,501,000 after buying an additional 183,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake 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 valued at $325,814,000 after buying an additional 374,522 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TER shares. Craig Hallum dropped their price objective on Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Stifel Nicolaus cut their price target on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price objective on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Northland Securities raised shares of Teradyne from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $117.00 to $154.00 in a research report on Monday, January 6th. Finally, Evercore ISI raised their target price 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. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $150.33.

Teradyne Stock Performance

Shares of Teradyne stock opened at $134.93 on Thursday. The company has a market capitalization 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 company has a 50-day simple moving average of $119.67 and a two-hundred day simple moving average of $127.22. Teradyne, Inc. has a one year low of $92.29 and a one year high of $163.21.

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

Teradyne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, November 25th. Teradyne’s dividend payout ratio (DPR) is presently 15.24%.

Teradyne declared that its board has initiated a stock repurchase plan on Monday, November 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 3,080 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the transaction, the chief executive officer now owns 74,660 shares of the company’s stock, valued at approximately $9,705,800. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.