Teradyne, Inc. $TER Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Teradyne, Inc. (NASDAQ:TER) by 24.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,703,715 shares of the company’s stock after selling 549,849 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Teradyne were worth $505,083,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TER. State Street Corp grew its holdings in shares of Teradyne by 0.9% during the 4th quarter. State Street Corp now owns 7,078,635 shares of the company’s stock worth $1,370,141,000 after purchasing an additional 60,986 shares during the period. Ameriprise Financial Inc. raised its holdings in Teradyne by 6.8% in the third quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company’s stock valued at $723,600,000 after buying an additional 336,757 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Teradyne by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company’s stock valued at $813,640,000 after buying an additional 659,273 shares during the period. Invesco Ltd. lifted its position in Teradyne by 3.5% during the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company’s stock valued at $407,322,000 after buying an additional 99,864 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its position in Teradyne by 48.6% during the third quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock valued at $395,427,000 after buying an additional 940,000 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Up 2.5%

Shares of TER opened at $351.57 on Thursday. The firm has a market cap of $55.03 billion, a price-to-earnings ratio of 65.11, a PEG ratio of 0.99 and a beta of 1.74. The business’s 50 day moving average is $383.65 and its two-hundred day moving average is $320.90. Teradyne, Inc. has a 52-week low of $88.60 and a 52-week high of $487.91.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm’s revenue was up 87.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities analysts expect that Teradyne, Inc. will post 7.2 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from Teradyne’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.1%. Teradyne’s dividend payout ratio is 9.63%.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the completion of the sale, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the sale, the vice president directly owned 7,665 shares in the company, valued at approximately $2,894,304. This represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,941 shares of company stock worth $5,444,112 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Teradyne from $325.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Evercore set a $370.00 target price on shares of Teradyne in a report on Thursday, April 30th. Weiss Ratings raised shares of Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Cantor Fitzgerald increased their price target on Teradyne from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, The Goldman Sachs Group raised their price objective on Teradyne from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.53.

Teradyne 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.