Kayne Anderson Rudnick Investment Management LLC Sells 1,619,556 Shares of Teradyne, Inc. (NASDAQ:TER)

Kayne Anderson Rudnick Investment Management LLC lowered its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,088,009 shares of the company's stock after selling 1,619,556 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 1.90% of Teradyne worth $388,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TER. Roberts Glore & Co. Inc. IL boosted its position in Teradyne by 2.2% during the fourth quarter. Roberts Glore & Co. Inc. IL now owns 4,103 shares of the company's stock worth $517,000 after purchasing an additional 90 shares during the period. Covestor Ltd boosted its position in shares of Teradyne by 12.3% in the fourth quarter. Covestor Ltd now owns 901 shares of the company's stock valued at $113,000 after acquiring an additional 99 shares during the period. Snowden Capital Advisors LLC boosted its position in shares of Teradyne by 2.8% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,748 shares of the company's stock valued at $472,000 after acquiring an additional 103 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Teradyne by 4.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,127 shares of the company's stock valued at $429,000 after acquiring an additional 119 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Teradyne by 5.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 2,244 shares of the company's stock valued at $283,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Down 1.8%

TER stock traded down $1.49 during midday trading on Wednesday, reaching $80.25. The stock had a trading volume of 2,709,591 shares, compared to its average volume of 2,596,352. The business has a fifty day simple moving average of $77.80 and a two-hundred day simple moving average of $102.94. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.83 and a beta of 1.70. Teradyne, Inc. has a twelve month low of $65.77 and a twelve month high of $163.21.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. The firm had revenue of $685.70 million during the quarter, compared to analyst estimates of $680.54 million. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. The company's revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, equities analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

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

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is currently 13.56%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald reduced their target price on Teradyne from $150.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Robert W. Baird reduced their target price on Teradyne from $140.00 to $110.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Citigroup reduced their target price on Teradyne from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. KeyCorp restated a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Finally, Northland Securities lowered their target price on shares of Teradyne from $154.00 to $140.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $117.56.

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.