Van ECK Associates Corp Sells 1,548,499 Shares of Teradyne, Inc. $TER

Key Points

• Van ECK Associates sold 1,548,499 shares of Teradyne in Q3, trimming its stake by 27.9% to 3,994,056 shares (about 2.55% ownership) valued at roughly $549.7 million.
• Teradyne beat expectations with $1.80 EPS vs. $1.36 expected and $1.08B revenue (up 43.9% year-over-year); the stock is trading higher, the company has a ~$46.4B market cap, and analysts hold a consensus "Moderate Buy" with a $256.24 target.

Van ECK Associates Corp lowered its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 27.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,994,056 shares of the company's stock after selling 1,548,499 shares during the period. Van ECK Associates Corp owned approximately 2.55% of Teradyne worth $549,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Teradyne during the 3rd quarter valued at $31,000. Davidson Capital Management Inc. purchased a new stake in Teradyne in the 3rd quarter worth approximately $31,000. CYBER HORNET ETFs LLC bought a new position in shares of Teradyne in the second quarter worth $35,000. Hemington Wealth Management boosted its stake in Teradyne by 43.2% during the third quarter. Hemington Wealth Management now owns 262 shares of the company's stock valued at $36,000 after buying an additional 79 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in Teradyne in the 2nd quarter worth about $43,000. Institutional investors own 99.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TER shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Teradyne in a research report on Thursday, January 22nd. Stifel Nicolaus set a $325.00 price objective on shares of Teradyne in a report on Wednesday, February 4th. Bank of America increased their target price on Teradyne from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Morgan Stanley set a $306.00 price target on Teradyne in a research note on Wednesday, February 11th. Finally, Susquehanna reiterated a "positive" rating and set a $335.00 price objective on shares of Teradyne in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.24.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 1,108 shares of the business's stock in a transaction on Friday, December 12th. The shares were sold at an average price of $201.31, for a total transaction of $223,051.48. Following the sale, the chief executive officer owned 93,409 shares in the company, valued at approximately $18,804,165.79. The trade was a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Teradyne Trading Up 8.6%

TER opened at $296.44 on Tuesday. The company has a market cap of $46.41 billion, a P/E ratio of 85.18, a P/E/G ratio of 1.69 and a beta of 1.76. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $344.92. The business's 50-day moving average price is $267.12 and its 200-day moving average price is $195.28.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.44. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $970.44 million. Teradyne had a return on equity of 22.68% and a net margin of 17.37%.The business's quarterly revenue was up 43.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Equities research analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.2%. Teradyne's dividend payout ratio is 14.94%.

Teradyne Company Profile

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company's product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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