ICICI Prudential Asset Management Co Ltd Sells 5,530 Shares of Teradyne, Inc. (NASDAQ:TER)

ICICI Prudential Asset Management Co Ltd cut its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,717 shares of the company’s stock after selling 5,530 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Teradyne were worth $5,051,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Teradyne in the 2nd quarter worth $27,000. Capital Performance Advisors LLP bought a new position in shares of Teradyne during the 3rd quarter valued at about $29,000. Rothschild Investment LLC bought a new position in shares of Teradyne in the 2nd quarter valued at about $33,000. Quarry LP raised its position in Teradyne by 256.1% in the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock worth $35,000 after purchasing an additional 169 shares during the period. Finally, Tortoise Investment Management LLC raised its position in Teradyne by 76.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 273 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Sanjay Mehta sold 6,153 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total value of $818,718.18. Following the completion of the sale, the chief financial officer now owns 35,834 shares of the company’s stock, valued at $4,768,072.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Teradyne news, CFO Sanjay Mehta sold 6,153 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total transaction of $818,718.18. Following the sale, the chief financial officer now directly owns 35,834 shares in the company, valued at $4,768,072.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mercedes Johnson sold 625 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total transaction of $83,431.25. Following the sale, the director now owns 16,518 shares in the company, valued at approximately $2,204,987.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,352 shares of company stock valued at $1,899,353 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research report on Friday, August 16th. Citigroup reduced their price objective on shares of Teradyne from $185.00 to $162.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Teradyne from $120.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. 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. Finally, Robert W. Baird reduced their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Teradyne currently has a consensus rating of “Hold” and a consensus target price of $142.62.

Teradyne Stock Performance

Shares of TER traded down $1.16 during mid-day trading on Wednesday, hitting $107.17. 207,002 shares of the company were exchanged, compared to its average volume of 2,032,951. Teradyne, Inc. has a 1-year low of $89.15 and a 1-year high of $163.21. The company has a 50 day moving average of $123.50 and a 200-day moving average of $132.48. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.36 and a beta of 1.52.

Teradyne (NASDAQ:TER) last announced its quarterly earnings data 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 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 earned $0.80 EPS. Teradyne’s revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Teradyne, Inc. will post 3.15 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has authorized a share buyback plan on Monday, November 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Teradyne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. Teradyne’s dividend payout ratio (DPR) is 15.24%.

Teradyne Company Profile

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.