The Manufacturers Life Insurance Company Decreases Position in Teradyne, Inc. $TER

Key Points

• The Manufacturers Life Insurance Company reduced its Teradyne stake by 3.9% in the second quarter, selling 3,495 shares and retaining 86,726 shares worth approximately $42.0 million. Institutional investors collectively own 99.77% of Teradyne.
• Teradyne CEO Gregory Smith sold 4,000 shares for $1.7 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 3.43%.
• Teradyne reported strong quarterly results, with EPS of $2.47 exceeding estimates of $2.09 and revenue rising 103.9% year over year to $1.33 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $396.80.

The Manufacturers Life Insurance Company decreased its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,726 shares of the company's stock after selling 3,495 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Teradyne worth $41,962,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Carolina Wealth Advisors LLC lifted its position in Teradyne by 42.5% in the second quarter. Carolina Wealth Advisors LLC now owns 114 shares of the company's stock worth $55,000 after buying an additional 34 shares during the last quarter. Vestor Capital LLC raised its stake in shares of Teradyne by 15.4% in the first quarter. Vestor Capital LLC now owns 285 shares of the company's stock valued at $85,000 after acquiring an additional 38 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in shares of Teradyne by 5.8% in the second quarter. Ashton Thomas Private Wealth LLC now owns 727 shares of the company's stock valued at $352,000 after acquiring an additional 40 shares during the period. UMB Bank n.a. lifted its holdings in shares of Teradyne by 1.8% in the 4th quarter. UMB Bank n.a. now owns 2,293 shares of the company's stock worth $444,000 after acquiring an additional 40 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Teradyne by 1.2% in the 4th quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock worth $645,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 99.77% of the company's stock.

Insider Activity

In related news, CEO Gregory Smith sold 4,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer owned 112,495 shares of the company's stock, valued at $47,810,375. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company's stock.

Teradyne Price Performance

TER stock opened at $379.72 on Friday. Teradyne, Inc. has a 12 month low of $109.56 and a 12 month high of $487.91. The firm's 50-day moving average is $365.59 and its 200 day moving average is $360.05. The company has a market capitalization of $59.37 billion, a PE ratio of 52.09, a P/E/G ratio of 0.75 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.38. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.22 billion. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The firm's quarterly revenue was up 103.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Sell-side analysts forecast that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.13 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. Teradyne's payout ratio is presently 7.13%.

Analyst Upgrades and Downgrades

TER has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. Susquehanna boosted their target price on Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research report on Tuesday, June 30th. Evercore reaffirmed an "outperform" rating and set a $420.00 target price on shares of Teradyne in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a "buy" rating and issued a $465.00 price target on shares of Teradyne in a report on Tuesday, July 28th. Finally, Robert W. Baird reissued a "neutral" rating and set a $420.00 price target on shares of Teradyne in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $396.80.

Teradyne Profile

Teradyne, Inc NASDAQ: TER develops and supplies automated test equipment and industrial automation solutions. Its testing products are used by semiconductor, electronics, wireless, storage and other manufacturers to evaluate the performance and quality of components, devices and systems during production.

The company's semiconductor test business provides systems for testing logic, memory, analog and mixed-signal devices, along with related handlers and software. Teradyne also offers system and product test solutions for electronic equipment and wireless devices.

Want to see what other hedge funds are holding TER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teradyne, Inc. (NASDAQ:TER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.