Bank of New York Mellon Corp Sells 73,063 Shares of Teradyne, Inc. (NASDAQ:TER)

Bank of New York Mellon Corp reduced its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,409,687 shares of the company's stock after selling 73,063 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Teradyne worth $116,440,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Teradyne during the fourth quarter valued at approximately $34,000. AllSquare Wealth Management LLC raised its stake in shares of Teradyne by 200.0% during the fourth quarter. AllSquare Wealth Management LLC now owns 300 shares of the company's stock worth $38,000 after acquiring an additional 200 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Teradyne during the fourth quarter worth approximately $45,000. Sentry Investment Management LLC purchased a new position in shares of Teradyne during the first quarter worth approximately $45,000. Finally, Atala Financial Inc purchased a new position in shares of Teradyne during the fourth quarter worth approximately $47,000. 99.77% of the stock is currently owned by institutional investors.

Teradyne Price Performance

Teradyne stock traded down $1.59 during mid-day trading on Friday, reaching $97.03. 1,760,372 shares of the company traded hands, compared to its average volume of 2,761,021. The firm's 50 day moving average price is $84.55 and its 200 day moving average price is $97.10. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 4.05 and a beta of 1.70. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.14. The business had revenue of $685.70 million for the quarter, compared to the consensus estimate of $680.54 million. Teradyne had a net margin of 19.86% and a return on equity of 20.06%. The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. On average, sell-side analysts anticipate that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's payout ratio is currently 13.56%.

Teradyne declared that its Board of Directors has initiated a share buyback plan on Monday, April 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TER has been the topic of several research reports. KeyCorp reissued a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Cantor Fitzgerald set a $105.00 price target on shares of Teradyne and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group initiated coverage on shares of Teradyne in a research note on Thursday. They set a "sell" rating and a $80.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley lifted their price target on shares of Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Teradyne currently has an average rating of "Moderate Buy" and an average price target of $112.50.

Teradyne Company Profile

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.