Citigroup Inc. decreased its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 20.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 929,576 shares of the company's stock after selling 245,309 shares during the quarter. Citigroup Inc. owned about 0.58% of Teradyne worth $76,783,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of TER. Berbice Capital Management LLC lifted its holdings in shares of Teradyne by 200.0% during the 1st quarter. Berbice Capital Management LLC now owns 300 shares of the company's stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Teradyne during the 4th quarter worth approximately $34,000. Manchester Capital Management LLC lifted its stake in Teradyne by 44.7% in the first quarter. Manchester Capital Management LLC now owns 453 shares of the company's stock valued at $37,000 after buying an additional 140 shares in the last quarter. Sentry Investment Management LLC bought a new position in Teradyne in the first quarter valued at approximately $45,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Teradyne by 319.0% in the first quarter. AdvisorNet Financial Inc now owns 595 shares of the company's stock valued at $49,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.
Insider Buying and Selling
In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the sale, the chief executive officer owned 97,547 shares in the company, valued at $10,313,644.31. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TER. Cowen restated a "buy" rating on shares of Teradyne in a report on Wednesday, July 30th. KeyCorp reiterated a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price target (up previously from $88.00) on shares of Teradyne in a research note on Thursday, July 17th. Cantor Fitzgerald set a $105.00 price objective on Teradyne and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley upgraded Teradyne from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $74.00 to $100.00 in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Teradyne presently has a consensus rating of "Hold" and an average price target of $114.44.
Check Out Our Latest Research Report on TER
Teradyne Trading Up 0.9%
NASDAQ:TER opened at $107.47 on Friday. The stock has a market capitalization of $17.10 billion, a PE ratio of 37.19, a P/E/G ratio of 2.25 and a beta of 1.72. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $144.16. The firm has a fifty day simple moving average of $92.38 and a 200 day simple moving average of $91.75.
Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $651.80 million during the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The company's quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. On average, equities 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 share repurchase plan on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.
Teradyne Company Profile
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Free Report)
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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