Engineers Gate Manager LP Sells 27,026 Shares of Teradyne, Inc. $TER

Key Points

• Engineers Gate Manager LP reduced its Teradyne stake by 42.8%, selling 27,026 shares in the second quarter and retaining 36,165 shares valued at approximately $17.5 million. Institutional investors collectively own 99.77% of Teradyne.
• Teradyne reported strong quarterly results, with EPS of $2.47 versus the $2.09 consensus and revenue of $1.33 billion, up 103.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $396.80.
• The company declared a quarterly dividend of $0.13, equivalent to $0.52 annually and a 0.1% yield. CEO Gregory Smith also sold 4,000 shares for $1.7 million under a pre-arranged trading plan.

Engineers Gate Manager LP cut its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 42.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,165 shares of the company's stock after selling 27,026 shares during the period. Engineers Gate Manager LP's holdings in Teradyne were worth $17,498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TER. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Teradyne by 16.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,874 shares of the company's stock valued at $907,000 after buying an additional 259 shares during the period. GFG Capital LLC lifted its holdings in Teradyne by 1.1% during the second quarter. GFG Capital LLC now owns 31,692 shares of the company's stock worth $15,334,000 after acquiring an additional 348 shares in the last quarter. IFP Advisors Inc lifted its holdings in Teradyne by 0.9% during the second quarter. IFP Advisors Inc now owns 27,669 shares of the company's stock worth $13,387,000 after acquiring an additional 234 shares in the last quarter. Baird Financial Group Inc. grew its stake in Teradyne by 147.2% in the second quarter. Baird Financial Group Inc. now owns 53,029 shares of the company's stock valued at $25,658,000 after acquiring an additional 31,579 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its stake in Teradyne by 15.3% in the second quarter. Beacon Investment Advisory Services Inc. now owns 377 shares of the company's stock valued at $182,000 after acquiring an additional 50 shares during the period. 99.77% of the stock is owned by institutional investors.

Teradyne Price Performance

Shares of NASDAQ TER opened at $383.69 on Thursday. The business has a 50-day moving average of $365.35 and a 200-day moving average of $359.59. The stock has a market capitalization of $59.99 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 0.75 and a beta of 1.78. Teradyne, Inc. has a fifty-two week low of $109.56 and a fifty-two week high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.38. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.Teradyne's revenue was up 103.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. On average, sell-side analysts expect that Teradyne, Inc. will post 9.1 EPS for the current year.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 4th. Teradyne's dividend payout ratio (DPR) is 7.13%.

Analyst Ratings Changes

TER has been the subject of several recent analyst reports. Bank of America increased their price target on Teradyne from $365.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Evercore reiterated an "outperform" rating and issued a $420.00 price objective on shares of Teradyne in a research report on Thursday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Susquehanna increased their target price on Teradyne from $415.00 to $550.00 and gave the stock a "positive" rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $465.00 target price on shares of Teradyne in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $396.80.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Smith sold 4,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $425.00, for a total value of $1,700,000.00. Following the sale, the chief executive officer directly owned 112,495 shares of the company's stock, valued at approximately $47,810,375. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

Teradyne Profile

Teradyne, Inc NASDAQ: TER develops and supplies automated test equipment and industrial automation solutions. Its testing products are used by semiconductor, electronics, wireless, storage and other manufacturers to evaluate the performance and quality of components, devices and systems during production.

The company's semiconductor test business provides systems for testing logic, memory, analog and mixed-signal devices, along with related handlers and software. Teradyne also offers system and product test solutions for electronic equipment and wireless devices.

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