Phoenix Financial Ltd. Cuts Stock Holdings in Teradyne, Inc. (NASDAQ:TER)

Key Points

• Phoenix Financial Ltd. reduced its stake in Teradyne, Inc. by 91.2% in Q1, resulting in ownership of 10,471 shares valued at $869,000.
• The consensus rating for Teradyne is "Hold," with price targets ranging from $80.00 to $155.00 from various analysts.
• Teradyne recently declared a quarterly dividend of $0.12 per share and announced a $1 billion share buyback plan, indicating confidence in the company's valuation.

Phoenix Financial Ltd. decreased its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 91.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,471 shares of the company's stock after selling 107,891 shares during the quarter. Phoenix Financial Ltd.'s holdings in Teradyne were worth $869,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Teradyne by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after purchasing an additional 1,065,474 shares in the last quarter. Geode Capital Management LLC grew its stake in Teradyne by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company's stock worth $515,665,000 after purchasing an additional 94,374 shares in the last quarter. Aspex Management HK Ltd lifted its holdings in Teradyne by 35.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock worth $407,331,000 after buying an additional 847,409 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Teradyne by 4.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,957,049 shares of the company's stock worth $244,252,000 after buying an additional 131,152 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Teradyne by 3.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,466,122 shares of the company's stock worth $203,726,000 after buying an additional 75,226 shares during the period. Institutional investors own 99.77% of the company's stock.

Analyst Ratings Changes

TER has been the subject of a number of analyst reports. UBS Group upped their target price on Teradyne from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Susquehanna lowered their target price on Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Teradyne in a report on Thursday, July 10th. They set a "sell" rating and a $80.00 target price for the company. Cantor Fitzgerald set a $105.00 price objective on Teradyne and gave the company an "overweight" rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $102.00 price objective (up previously from $88.00) on shares of Teradyne in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $112.50.

Teradyne Price Performance

Shares of TER stock traded up $18.11 during trading on Wednesday, hitting $108.66. 12,055,531 shares of the stock traded hands, compared to its average volume of 3,370,198. The firm has a market capitalization of $17.43 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The firm's fifty day moving average price is $88.01 and its 200-day moving average price is $93.37. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $144.16.

Teradyne (NASDAQ:TER - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $651.80 million for the quarter, compared to analyst estimates of $649.02 million. Teradyne had a return on equity of 20.06% and a net margin of 19.86%. The firm's quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. As a group, equities research analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is presently 13.56%.

Teradyne declared that its board has approved a stock 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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.