Bank of New York Mellon Corp Has $116.44 Million Stock Position in Teradyne, Inc. (NASDAQ:TER)

Bank of New York Mellon Corp lowered its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,409,687 shares of the company's stock after selling 73,063 shares during the period. Bank of New York Mellon Corp owned approximately 0.88% of Teradyne worth $116,440,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in Teradyne in the 4th quarter valued at about $34,000. AllSquare Wealth Management LLC boosted its holdings in Teradyne by 200.0% in the 4th quarter. AllSquare Wealth Management LLC now owns 300 shares of the company's stock valued at $38,000 after purchasing an additional 200 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Teradyne in the 4th quarter valued at about $45,000. Atala Financial Inc bought a new stake in Teradyne in the 4th quarter valued at about $47,000. Finally, Sentry Investment Management LLC bought a new stake in Teradyne in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

Shares of NASDAQ TER opened at $92.78 on Thursday. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21. The firm has a 50 day moving average price of $84.05 and a two-hundred day moving average price of $97.30. The stock has a market cap of $14.88 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Teradyne had a net margin of 19.86% and a return on equity of 20.06%. The firm had revenue of $685.70 million during the quarter, compared to analysts' expectations of $680.54 million. During the same period in the prior year, the company posted $0.51 EPS. The company's revenue was up 14.3% on a year-over-year basis. Analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its board has authorized a stock buyback program on Monday, April 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is currently 13.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TER shares. UBS Group set a $130.00 price target on shares of Teradyne and gave the stock a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald set a $105.00 price target on shares of Teradyne and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Stifel Nicolaus cut their price target on shares of Teradyne from $125.00 to $110.00 and set a "hold" rating for the company in a report on Wednesday, March 12th. Robert W. Baird cut their price target on shares of Teradyne from $140.00 to $110.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, TD Cowen cut their price target on shares of Teradyne from $135.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Teradyne has a consensus rating of "Moderate Buy" and an average target price of $114.67.

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.

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