California Public Employees Retirement System Cuts Holdings in Teradyne, Inc. (TER)
California Public Employees Retirement System lowered its holdings in shares of Teradyne, Inc. (NYSE:TER) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 482,700 shares of the semiconductor company’s stock after selling 2,100 shares during the period. California Public Employees Retirement System owned about 0.24% of Teradyne worth $14,495,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Teradyne by 11,980.5% in the first quarter. BlackRock Inc. now owns 18,369,484 shares of the semiconductor company’s stock valued at $571,292,000 after purchasing an additional 18,217,425 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Teradyne by 238.2% in the second quarter. JPMorgan Chase & Co. now owns 3,877,810 shares of the semiconductor company’s stock valued at $116,451,000 after purchasing an additional 2,731,167 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Teradyne by 71.0% in the second quarter. Wells Fargo & Company MN now owns 4,293,075 shares of the semiconductor company’s stock valued at $128,922,000 after purchasing an additional 1,781,854 shares during the last quarter. Capital Growth Management LP purchased a new position in shares of Teradyne during the 1st quarter worth approximately $55,047,000. Finally, Coatue Management LLC purchased a new position in shares of Teradyne during the 2nd quarter worth approximately $39,545,000. Institutional investors own 93.10% of the company’s stock.
Several brokerages recently issued reports on TER. Zacks Investment Research upgraded Teradyne from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, June 28th. BidaskClub cut Teradyne from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. KeyCorp reiterated a “buy” rating and set a $40.00 target price on shares of Teradyne in a report on Tuesday, September 5th. Stifel Nicolaus raised Teradyne from a “hold” rating to a “buy” rating and raised their price target for the stock from $32.00 to $39.00 in a research report on Wednesday, July 5th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued a “neutral” rating on shares of Teradyne in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $36.83.
In other news, Director Michael A. Bradley sold 17,390 shares of Teradyne stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $36.30, for a total transaction of $631,257.00. Following the transaction, the director now owns 154,132 shares in the company, valued at $5,594,991.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Bradley sold 22,168 shares of Teradyne stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.64, for a total value of $790,067.52. Following the transaction, the director now owns 194,938 shares in the company, valued at approximately $6,947,590.32. The disclosure for this sale can be found here. Insiders sold 141,698 shares of company stock valued at $5,012,857 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.
Shares of Teradyne, Inc. (NYSE TER) opened at 37.71 on Wednesday. The stock has a 50 day moving average price of $35.63 and a 200-day moving average price of $33.93. Teradyne, Inc. has a 12 month low of $20.22 and a 12 month high of $38.10. The stock has a market cap of $7.46 billion, a P/E ratio of 19.46 and a beta of 0.98.
Teradyne (NYSE:TER) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. Teradyne had a net margin of 20.08% and a return on equity of 21.25%. The firm had revenue of $697.00 million for the quarter, compared to analysts’ expectations of $683.66 million. During the same period in the previous year, the company posted $0.55 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, analysts forecast that Teradyne, Inc. will post $1.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were issued a $0.07 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.74%. Teradyne’s payout ratio is currently 14.51%.
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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