Everence Capital Management Inc. Takes Position in Teradyne, Inc. (NASDAQ:TER)

Everence Capital Management Inc. purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,520 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position 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 buying an additional 350,002 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teradyne by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock valued at $682,597,000 after acquiring an additional 57,989 shares in the last quarter. Geode Capital Management LLC raised its holdings in Teradyne by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,011,131 shares of the company’s stock valued at $535,484,000 after acquiring an additional 209,868 shares during the last quarter. Van ECK Associates Corp lifted its stake in Teradyne by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,082,064 shares of the company’s stock worth $383,501,000 after purchasing an additional 183,721 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Teradyne by 18.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock worth $325,814,000 after purchasing an additional 374,522 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Teradyne Stock Performance

Shares of TER opened at $140.00 on Tuesday. The stock has a market capitalization of $22.80 billion, a PE ratio of 44.44, a P/E/G ratio of 2.66 and a beta of 1.46. The company’s 50-day simple moving average is $116.28 and its 200-day simple moving average is $127.71. Teradyne, Inc. has a 1 year low of $92.29 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.90 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 last year, the company posted $0.80 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Teradyne, Inc. will post 3.17 earnings per share for the current year.

Teradyne declared that its Board of Directors has initiated a share repurchase program on Monday, November 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, November 25th. Teradyne’s dividend payout ratio is currently 15.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TER shares. JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and increased their price target for the company from $145.00 to $158.00 in a report on Monday, December 16th. Northland Securities raised Teradyne from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $117.00 to $154.00 in a research note on Monday. Stifel Nicolaus lowered their price target on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Craig Hallum dropped their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.33.

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.