OVERSEA CHINESE BANKING Corp Ltd Has $34.68 Million Stake in Teradyne, Inc. (NASDAQ:TER)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Teradyne, Inc. by 12.0%, now owning 419,721 shares worth approximately $34.68 million, making Teradyne its 26th largest investment.
• Teradyne reported a quarterly earnings per share (EPS) of $0.57, exceeding the estimate of $0.54, although revenue declined by 10.7% compared to the previous year.
• The company has authorized a $1.00 billion stock repurchase program, demonstrating confidence in its stock value, allowing buybacks of up to 8.1% of its shares.

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,721 shares of the company's stock after acquiring an additional 44,822 shares during the period. Teradyne comprises approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 26th biggest position. OVERSEA CHINESE BANKING Corp Ltd owned 0.26% of Teradyne worth $34,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Berbice Capital Management LLC boosted its stake in 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 during the period. Strategic Investment Solutions Inc. IL acquired a new position in Teradyne during the 4th quarter valued at about $34,000. Sentry Investment Management LLC acquired a new position in Teradyne during the 1st quarter valued at about $45,000. AdvisorNet Financial Inc boosted its stake in Teradyne by 319.0% during the 1st quarter. AdvisorNet Financial Inc now owns 595 shares of the company's stock valued at $49,000 after purchasing an additional 453 shares during the period. Finally, Allworth Financial LP raised its position in shares of Teradyne by 36.1% during the 1st quarter. Allworth Financial LP now owns 795 shares of the company's stock worth $61,000 after buying an additional 211 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of Teradyne stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the transaction, the chief executive officer owned 97,547 shares in the company, valued at $10,313,644.31. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Teradyne Price Performance

TER stock traded up $1.21 during midday trading on Tuesday, reaching $106.93. 7,231,647 shares of the company were exchanged, compared to its average volume of 3,500,616. The business has a 50-day moving average price of $90.28 and a two-hundred day moving average price of $92.25. Teradyne, Inc. has a one year low of $65.77 and a one year high of $144.16. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 2.19 and a beta of 1.72.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The firm had revenue of $651.80 million during the quarter, compared to analysts' expectations of $649.02 million. During the same period in the previous year, the business posted $0.86 earnings per share. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has approved a stock buyback plan on Monday, April 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Teradyne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's payout ratio is 16.61%.

Wall Street Analyst Weigh In

TER has been the topic of a number of research reports. KeyCorp reiterated a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Cantor Fitzgerald set a $105.00 target price on shares of Teradyne and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. UBS Group reaffirmed a "buy" rating and set a $130.00 price objective (up from $120.00) on shares of Teradyne in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Teradyne from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 target price (up from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $114.44.

Teradyne 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.