Oppenheimer & Co. Inc. Trims Stock Position in Teradyne, Inc. (NASDAQ:TER)

Oppenheimer & Co. Inc. trimmed its stake in Teradyne, Inc. (NASDAQ:TER) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,930 shares of the company’s stock after selling 4,340 shares during the period. Oppenheimer & Co. Inc.’s holdings in Teradyne were worth $1,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Teradyne in the second quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Teradyne in the 3rd quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in Teradyne during the 2nd quarter worth $33,000. Quarry LP grew its position in Teradyne by 256.1% during 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 last quarter. Finally, Tortoise Investment Management LLC increased its stake in Teradyne by 76.1% in the second quarter. Tortoise Investment Management LLC now owns 273 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mercedes Johnson sold 625 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $133.49, for a total transaction of $83,431.25. Following the completion of the sale, the director now directly owns 16,518 shares of the company’s stock, valued at $2,204,987.82. The trade was a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Stephen Smith sold 3,080 shares of the stock in a transaction on Wednesday, September 11th. The stock was 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 directly owns 83,816 shares in the company, valued at $10,896,080. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,352 shares of company stock worth $1,899,353. 0.36% of the stock is owned by company insiders.

Teradyne Price Performance

Teradyne stock opened at $102.58 on Monday. The firm’s 50-day moving average is $122.33 and its two-hundred day moving average is $132.25. The stock has a market capitalization of $16.71 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.22 and a beta of 1.52. Teradyne, Inc. has a 12-month low of $90.24 and a 12-month high of $163.21.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $737.30 million during 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%. Teradyne’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. As a group, analysts forecast that Teradyne, Inc. will post 3.17 EPS for the current year.

Teradyne announced that its board has initiated a share buyback program on Monday, November 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Teradyne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 yield of 0.47%. Teradyne’s payout ratio is currently 15.24%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TER shares. Citigroup decreased their target price on shares of Teradyne from $185.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Susquehanna lifted their target price on Teradyne from $130.00 to $145.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Robert W. Baird cut their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus lowered their price objective on Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $142.62.

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.