Chesley Taft & Associates LLC Reduces Position in Teradyne, Inc. (NASDAQ:TER)

Chesley Taft & Associates LLC decreased its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 21.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,435 shares of the company's stock after selling 3,155 shares during the period. Chesley Taft & Associates LLC's holdings in Teradyne were worth $945,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TER. Van ECK Associates Corp grew its holdings in Teradyne by 59.9% in the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock valued at $620,552,000 after buying an additional 1,846,079 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Teradyne in the fourth quarter valued at about $12,118,000. Empowered Funds LLC raised its stake in shares of Teradyne by 16.2% during the fourth quarter. Empowered Funds LLC now owns 30,269 shares of the company's stock valued at $3,811,000 after purchasing an additional 4,212 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of Teradyne by 2.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 7,800 shares of the company's stock valued at $982,000 after purchasing an additional 200 shares during the period. Finally, Inspire Advisors LLC grew its stake in shares of Teradyne by 341.7% during the fourth quarter. Inspire Advisors LLC now owns 24,664 shares of the company's stock valued at $3,106,000 after acquiring an additional 19,080 shares in the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TER. TD Cowen lowered their price objective on Teradyne from $135.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. KeyCorp reissued a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. UBS Group set a $130.00 target price on Teradyne and gave the company a "buy" rating in a research note on Wednesday, March 12th. Morgan Stanley decreased their target price on shares of Teradyne from $81.00 to $69.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price target on Teradyne from $125.00 to $110.00 and set a "hold" rating for the company in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $114.67.

Teradyne Price Performance

Shares of TER stock traded up $1.57 on Monday, hitting $86.80. The stock had a trading volume of 3,660,222 shares, compared to its average volume of 2,617,269. The business has a 50 day moving average of $76.98 and a 200 day moving average of $101.56. Teradyne, Inc. has a 12-month low of $65.77 and a 12-month high of $163.21. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 2.83 and a beta of 1.69.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. The company had revenue of $685.70 million for the quarter, compared to analysts' expectations of $680.54 million. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. Teradyne's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, research analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne declared that its board has initiated a share repurchase program on Monday, April 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Teradyne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. Teradyne's dividend payout ratio is currently 13.56%.

About Teradyne

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.