Mackenzie Financial Corp Purchases 15,244 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Mackenzie Financial Corp increased its stake in Teradyne by 53.1% during Q1, acquiring an additional 15,244 shares and now holds shares valued at $3.63 million.
• Teradyne's CEO Gregory Stephen Smith sold 554 shares in July, reducing his ownership by 0.56%, with his remaining shares valued at approximately $10.31 million.
• The company recently declared a quarterly dividend of $0.12 per share, indicating a 0.5% dividend yield and a dividend payout ratio of 16.61%.

Mackenzie Financial Corp increased its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 53.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 43,935 shares of the company's stock after purchasing an additional 15,244 shares during the quarter. Mackenzie Financial Corp's holdings in Teradyne were worth $3,629,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CIBC Private Wealth Group LLC lifted its stake in Teradyne by 4.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,127 shares of the company's stock worth $429,000 after purchasing an additional 119 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Teradyne by 8.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,474 shares of the company's stock valued at $1,193,000 after buying an additional 715 shares in the last quarter. Wellington Management Group LLP raised its stake in Teradyne by 36.2% during the fourth quarter. Wellington Management Group LLP now owns 14,554 shares of the company's stock worth $1,833,000 after acquiring an additional 3,870 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Teradyne in the 4th quarter valued at $11,365,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Teradyne in the 4th quarter worth about $5,975,000. 99.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of the business's stock in a transaction 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

Teradyne Stock Performance

Shares of NASDAQ:TER traded up $1.21 during trading on Tuesday, reaching $106.93. The stock had a trading volume of 7,231,589 shares, compared to its average volume of 3,500,616. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $144.16. The firm's fifty day moving average is $90.28 and its 200 day moving average is $92.25. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 37.00, a P/E/G 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $651.80 million for the quarter, compared to analyst estimates of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The business's quarterly revenue was down 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, research analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has initiated a stock buyback program on Monday, April 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Teradyne Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group reiterated a "buy" rating and issued a $130.00 target price (up previously from $120.00) on shares of Teradyne in a research note on Thursday, July 31st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $102.00 price target (up from $88.00) on shares of Teradyne in a report on Thursday, July 17th. Morgan Stanley raised shares of Teradyne from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $74.00 to $100.00 in a research note on Thursday, July 31st. Wall Street Zen downgraded Teradyne from a "hold" rating to a "sell" rating in a report on Saturday. Finally, KeyCorp reissued a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Teradyne presently has a consensus rating of "Hold" and a consensus price target of $114.44.

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.