California State Teachers Retirement System decreased its stake in Teradyne, Inc. (NYSE:TER) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,297 shares of the semiconductor company’s stock after selling 12,860 shares during the period. California State Teachers Retirement System’s holdings in Teradyne were worth $9,047,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Teradyne by 2,983.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,334,484 shares of the semiconductor company’s stock valued at $74,000 after acquiring an additional 2,258,762 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Teradyne by 15.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,966,313 shares of the semiconductor company’s stock valued at $61,703,000 after acquiring an additional 262,014 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Teradyne by 1.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,879,172 shares of the semiconductor company’s stock valued at $69,492,000 after acquiring an additional 34,160 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Teradyne by 4.9% in the 4th quarter. Northern Trust Corp now owns 1,590,989 shares of the semiconductor company’s stock valued at $49,926,000 after acquiring an additional 73,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Teradyne by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,041 shares of the semiconductor company’s stock valued at $47,104,000 after acquiring an additional 84,277 shares in the last quarter.
Teradyne stock opened at $40.51 on Friday. Teradyne, Inc. has a 52 week low of $28.73 and a 52 week high of $49.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.10 and a quick ratio of 3.76. The stock has a market cap of $6.87 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, February 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, February 21st. Teradyne’s payout ratio is currently 15.38%.
TER has been the subject of several analyst reports. Bank of America cut Teradyne from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a report on Monday, November 26th. Citigroup reiterated a “buy” rating and set a $41.00 price target (down previously from $47.00) on shares of Teradyne in a report on Monday, December 17th. Robert W. Baird cut Teradyne from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $50.68 to $29.89 in a report on Friday, December 21st. Credit Suisse Group reiterated a “hold” rating on shares of Teradyne in a report on Friday, January 25th. Finally, Northland Securities initiated coverage on Teradyne in a report on Tuesday, December 18th. They set a “market perform” rating and a $35.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.04.
In other Teradyne news, insider Gregory Stephen Smith sold 11,210 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $36.82, for a total transaction of $412,752.20. Following the completion of the sale, the insider now directly owns 25,993 shares in the company, valued at $957,062.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles Jeffrey Gray sold 33,156 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $36.69, for a total transaction of $1,216,493.64. Following the sale, the vice president now owns 35,415 shares of the company’s stock, valued at $1,299,376.35. The disclosure for this sale can be found here. Insiders have sold 211,079 shares of company stock valued at $8,102,210 over the last 90 days. Company insiders own 0.49% of the company’s stock.
Teradyne, Inc designs, develops, manufactures, sells, and supports automatic test equipment worldwide. Its Semiconductor Test segment offers semiconductor test products and services for wafer level and device package testing in automotive, industrial, communications, consumer, computer and electronic game, and other applications.
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