Bank of Nova Scotia Sells 232,627 Shares of Teradyne, Inc. (NASDAQ:TER)

Bank of Nova Scotia decreased its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 93.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,199 shares of the company's stock after selling 232,627 shares during the quarter. Bank of Nova Scotia's holdings in Teradyne were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Teradyne by 36.2% in the 4th quarter. Wellington Management Group LLP now owns 14,554 shares of the company's stock valued at $1,833,000 after purchasing an additional 3,870 shares in the last quarter. Invesco Ltd. boosted its position in Teradyne by 4.0% during the fourth quarter. Invesco Ltd. now owns 2,403,193 shares of the company's stock valued at $302,610,000 after buying an additional 92,195 shares during the period. Renaissance Technologies LLC bought a new position in shares of Teradyne during the fourth quarter valued at about $7,587,000. Advisory Services Network LLC increased its holdings in shares of Teradyne by 6.3% in the fourth quarter. Advisory Services Network LLC now owns 2,384 shares of the company's stock worth $300,000 after buying an additional 141 shares during the period. Finally, APG Asset Management N.V. increased its holdings in shares of Teradyne by 816.7% in the fourth quarter. APG Asset Management N.V. now owns 95,481 shares of the company's stock worth $11,611,000 after buying an additional 85,065 shares during the period. Hedge funds and other institutional investors own 99.77% of the company's stock.

Insider Buying and Selling at Teradyne

In related news, CEO Gregory Stephen Smith sold 554 shares of Teradyne stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $105.73, for a total transaction of $58,574.42. Following the completion of the transaction, the chief executive officer directly owned 97,547 shares of the company's stock, valued at $10,313,644.31. This trade represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TER has been the topic of several recent research reports. Stifel Nicolaus raised their price target on Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Cowen restated a "buy" rating on shares of Teradyne in a report on Wednesday, July 30th. Susquehanna dropped their price target on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. UBS Group reissued a "buy" rating and issued a $130.00 price target (up previously from $120.00) on shares of Teradyne in a report on Thursday, July 31st. Finally, KeyCorp restated a "sector weight" rating on shares of Teradyne in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $114.44.

Teradyne Stock Performance

TER stock opened at $106.46 on Friday. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $144.16. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.72. The business's 50 day moving average price is $91.78 and its two-hundred day moving average price is $92.22.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $651.80 million for the quarter, compared to analysts' expectations of $649.02 million. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The firm's revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Sell-side analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne declared that its board has initiated a stock buyback plan on Monday, April 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are typically 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.