Peregrine Capital Management LLC Cuts Stock Holdings in Teradyne, Inc. $TER

Peregrine Capital Management LLC lowered its holdings in Teradyne, Inc. (NASDAQ:TER) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,264 shares of the company’s stock after selling 12,042 shares during the quarter. Peregrine Capital Management LLC’s holdings in Teradyne were worth $9,671,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Teradyne by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock valued at $442,413,000 after acquiring an additional 143,058 shares during the period. Federated Hermes Inc. boosted its position in Teradyne by 79.7% during the second quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock valued at $340,353,000 after purchasing an additional 1,679,215 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Teradyne by 11.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,473,173 shares of the company’s stock valued at $490,134,000 after purchasing an additional 354,876 shares in the last quarter. Primecap Management Co. CA grew its stake in Teradyne by 58.6% in the second quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company’s stock valued at $274,036,000 after purchasing an additional 1,125,868 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Teradyne by 2.5% in the second quarter. Invesco Ltd. now owns 2,859,466 shares of the company’s stock valued at $257,123,000 after purchasing an additional 68,568 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

Teradyne Stock Down 2.8%

Teradyne stock opened at $216.31 on Friday. The business’s 50-day moving average price is $189.15 and its 200 day moving average price is $141.59. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.84. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $229.66.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Teradyne had a net margin of 15.49% and a return on equity of 18.04%. The business had revenue of $769.21 million for the quarter, compared to analysts’ expectations of $744.20 million. During the same quarter last year, the company earned $0.90 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts expect that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, November 24th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, November 24th. Teradyne’s payout ratio is 17.45%.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 1,108 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $201.31, for a total value of $223,051.48. Following the transaction, the chief executive officer directly owned 93,409 shares of the company’s stock, valued at approximately $18,804,165.79. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America raised shares of Teradyne from an “underperform” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Wednesday, October 29th. Susquehanna reiterated a “positive” rating and set a $215.00 price objective on shares of Teradyne in a research note on Thursday, October 30th. Citigroup raised their target price on shares of Teradyne from $117.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Industrial Alliance Securities set a $175.00 price objective on Teradyne in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their price target on Teradyne from $122.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.75.

About Teradyne

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.