Pacer Advisors Inc. Sells 4,876 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Pacer Advisors Inc. reduced its stake in Teradyne, Inc. by 34.2%, holding 9,400 shares valued at approximately $776,000 following a sale of 4,876 shares in the 1st quarter.
• Analysts have varied ratings on Teradyne, with Goldman Sachs reaffirming a "sell" rating at a target price of $85.00, while Cantor Fitzgerald set an "overweight" rating with a target of $105.00.
• Teradyne announced a stock repurchase program allowing for the buyback of up to $1.00 billion in shares, indicating the board's belief that the stock may be undervalued.

Pacer Advisors Inc. lowered its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 34.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the company's stock after selling 4,876 shares during the quarter. Pacer Advisors Inc.'s holdings in Teradyne were worth $776,000 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 the stock. Strategic Investment Solutions Inc. IL bought a new position in Teradyne in the fourth quarter valued at approximately $34,000. Berbice Capital Management LLC boosted its holdings in shares of Teradyne by 200.0% in 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 in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Teradyne in the 1st quarter valued at $45,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Teradyne in the 4th quarter valued at $69,000. Finally, Transce3nd LLC acquired a new position in shares of Teradyne during the 4th quarter worth $73,000. Institutional investors own 99.77% of the company's stock.

Analyst Ratings Changes

TER has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $102.00 price objective (up from $88.00) on shares of Teradyne in a research note on Thursday, July 17th. Morgan Stanley raised shares of Teradyne from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $74.00 to $100.00 in a report on Thursday. Cowen reaffirmed a "buy" rating on shares of Teradyne in a report on Wednesday. UBS Group reiterated a "buy" rating and set a $130.00 price objective (up from $120.00) on shares of Teradyne in a research report on Thursday. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $85.00 target price on shares of Teradyne in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Teradyne currently has a consensus rating of "Moderate Buy" and an average target price of $114.44.

Insider Transactions at Teradyne

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

Teradyne Stock Performance

Shares of TER traded down $3.27 during mid-day trading on Friday, reaching $104.16. 4,812,201 shares of the company were exchanged, compared to its average volume of 4,507,611. The business has a 50 day simple moving average of $89.70 and a two-hundred day simple moving average of $93.09. The stock has a market capitalization of $16.71 billion, a PE ratio of 36.04, a PEG ratio of 2.25 and a beta of 1.72. 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 released its earnings results 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 business had revenue of $651.80 million during the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts predict that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Announces Dividend

The company 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. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 annualized dividend and a yield of 0.5%. Teradyne's payout ratio is presently 16.61%.

Teradyne declared that its Board of Directors has initiated a stock buyback plan on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are 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.