Alkeon Capital Management LLC cut its holdings in shares of Teradyne, Inc. (NYSE:TER) by 6.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,231,427 shares of the semiconductor company’s stock after selling 153,734 shares during the period. Alkeon Capital Management LLC’s holdings in Teradyne were worth $93,430,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. bought a new position in Teradyne during the fourth quarter worth about $156,000. Focused Wealth Management Inc bought a new position in Teradyne during the fourth quarter worth about $163,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Teradyne by 2,678.1% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,195 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 4,044 shares in the last quarter. Krilogy Financial LLC bought a new position in Teradyne during the third quarter worth about $179,000. Finally, Fiduciary Trust Co. bought a new position in Teradyne during the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 98.56% of the company’s stock.
Shares of TER stock opened at $48.99 on Wednesday. Teradyne, Inc. has a 12 month low of $29.68 and a 12 month high of $50.68. The stock has a market capitalization of $9,620.66, a PE ratio of 38.58, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The company has a quick ratio of 4.76, a current ratio of 5.00 and a debt-to-equity ratio of 0.19.
Teradyne (NYSE:TER) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.12. The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $438.85 million. Teradyne had a return on equity of 23.37% and a net margin of 12.06%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. equities research analysts forecast that Teradyne, Inc. will post 2.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, February 23rd will be given a $0.09 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Teradyne’s previous quarterly dividend of $0.07. Teradyne’s payout ratio is currently 28.35%.
Teradyne announced that its board has initiated a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts have weighed in on the company. ValuEngine upgraded Teradyne from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Citigroup lifted their target price on Teradyne from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research raised Teradyne from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Monday, January 29th. Needham & Company LLC lifted their price target on Teradyne from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, DA Davidson lifted their price target on Teradyne to $55.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Teradyne currently has an average rating of “Buy” and a consensus price target of $48.00.
In related news, insider Mark E. Jagiela sold 30,000 shares of Teradyne stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.96, for a total value of $1,348,800.00. Following the sale, the insider now owns 244,516 shares of the company’s stock, valued at $10,993,439.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory Stephen Smith sold 7,431 shares of Teradyne stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $44.51, for a total value of $330,753.81. Following the completion of the sale, the insider now directly owns 6,599 shares in the company, valued at approximately $293,721.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,009 shares of company stock worth $6,731,077. 0.62% of the stock is owned by company insiders.
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.
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