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

Bank of New York Mellon Corp decreased its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.88% of Teradyne worth $116,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TER. DAVENPORT & Co LLC boosted its holdings in shares of Teradyne by 29.8% during the first quarter. DAVENPORT & Co LLC now owns 5,094 shares of the company's stock worth $421,000 after acquiring an additional 1,170 shares during the period. Proficio Capital Partners LLC acquired a new stake in Teradyne during the 4th quarter worth approximately $12,118,000. Park Avenue Securities LLC lifted its holdings in Teradyne by 56.0% during the 1st quarter. Park Avenue Securities LLC now owns 3,045 shares of the company's stock worth $252,000 after purchasing an additional 1,093 shares during the last quarter. California Public Employees Retirement System boosted its stake in Teradyne by 87.5% in the 4th quarter. California Public Employees Retirement System now owns 498,614 shares of the company's stock valued at $62,785,000 after purchasing an additional 232,730 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Teradyne by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 68,612 shares of the company's stock valued at $5,667,000 after buying an additional 3,589 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TER shares. Morgan Stanley raised their price target on shares of Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Teradyne in a report on Thursday. They set a "sell" rating and a $80.00 target price on the stock. KeyCorp reiterated a "sector weight" rating on shares of Teradyne in a research report on Thursday, April 17th. Susquehanna cut their price target on Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.50.

Teradyne Price Performance

Shares of TER traded up $5.84 during trading hours on Thursday, hitting $98.62. 7,288,085 shares of the stock were exchanged, compared to its average volume of 2,760,760. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $163.21. The business has a 50-day moving average of $84.05 and a 200-day moving average of $97.30. The firm has a market capitalization of $15.82 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70.

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

Teradyne Dividend Announcement

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

Teradyne declared that its board has initiated a share repurchase program on Monday, April 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

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.