Sterling Capital Management LLC cut its holdings in Teradyne, Inc. (NASDAQ:TER – Free Report) by 43.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,270 shares of the company’s stock after selling 4,014 shares during the quarter. Sterling Capital Management LLC’s holdings in Teradyne were worth $1,562,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Teradyne in the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Teradyne in the 4th quarter worth approximately $37,000. True Wealth Design LLC lifted its stake in Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company’s stock valued at $41,000 after purchasing an additional 70 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Teradyne during the fourth quarter valued at approximately $41,000. Finally, DV Equities LLC bought a new stake in Teradyne during the fourth quarter worth approximately $42,000. 99.77% of the stock is owned by institutional investors and hedge funds.
Teradyne Stock Up 6.0%
Shares of NASDAQ:TER opened at $463.28 on Tuesday. The company’s fifty day moving average is $384.01 and its two-hundred day moving average is $311.33. Teradyne, Inc. has a 12-month low of $88.60 and a 12-month high of $472.37. The company has a market cap of $72.52 billion, a P/E ratio of 85.79, a price-to-earnings-growth ratio of 1.26 and a beta of 1.79.
Teradyne Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.52 annualized dividend and a yield of 0.1%. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s dividend payout ratio (DPR) is currently 9.63%.
Insiders Place Their Bets
In related news, insider Shannon John Poulin sold 656 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total transaction of $232,880.00. Following the completion of the sale, the insider directly owned 15,722 shares in the company, valued at approximately $5,581,310. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Stephen Smith sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer directly owned 120,470 shares in the company, valued at $50,962,424.10. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,941 shares of company stock worth $5,444,112. 0.19% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Bank of America upped their price target on Teradyne from $365.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings raised Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Morgan Stanley set a $387.00 target price on Teradyne in a report on Thursday, April 30th. The Goldman Sachs Group increased their price target on Teradyne from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price target on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $373.87.
Read Our Latest Analysis on Teradyne
Teradyne Company Profile
Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.
The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.
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