Victory Capital Management Inc. Sells 13,818 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Victory Capital Management Inc. has reduced its holdings in Teradyne, Inc. by 17.2%, selling 13,818 shares and now owning 66,694 shares worth approximately $5.51 million.
• Teradyne reported earnings of $0.75 per share for the last quarter, exceeding analysts' expectations of $0.61, with a year-over-year revenue increase of 14.3%.
• The company has authorized a significant $1 billion stock repurchase program, allowing the buyback of up to 8.1% of its shares, indicating potential confidence in the company's perceived undervaluation.

Victory Capital Management Inc. reduced its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,694 shares of the company's stock after selling 13,818 shares during the period. Victory Capital Management Inc.'s holdings in Teradyne were worth $5,509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Larson Financial Group LLC lifted its stake in Teradyne by 160.7% in the first quarter. Larson Financial Group LLC now owns 5,181 shares of the company's stock valued at $428,000 after acquiring an additional 3,194 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Teradyne by 76.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 159,025 shares of the company's stock valued at $13,135,000 after purchasing an additional 68,766 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Teradyne by 22.6% in the 1st quarter. Dakota Wealth Management now owns 6,565 shares of the company's stock valued at $542,000 after purchasing an additional 1,210 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Teradyne by 103.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 763,012 shares of the company's stock worth $63,025,000 after purchasing an additional 388,113 shares in the last quarter. Finally, CWM LLC boosted its holdings in Teradyne by 966.7% in the first quarter. CWM LLC now owns 37,451 shares of the company's stock worth $3,093,000 after purchasing an additional 33,940 shares in the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

Teradyne Price Performance

Shares of NASDAQ TER traded up $17.10 during trading hours on Wednesday, reaching $107.65. The stock had a trading volume of 19,836,794 shares, compared to its average volume of 3,382,065. The business's fifty day moving average is $88.58 and its two-hundred day moving average is $93.47. The company has a market cap of $17.27 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.01 and a beta of 1.70. Teradyne, Inc. has a twelve month low of $65.77 and a twelve month high of $144.16.

Teradyne (NASDAQ:TER - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The business had revenue of $651.80 million during the quarter, compared to the consensus estimate of $649.02 million. During the same quarter last year, the company earned $0.86 EPS. Teradyne's revenue was down 10.7% on a year-over-year basis. Sell-side analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has authorized a share buyback plan on Monday, April 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a $0.12 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 annualized dividend and a yield of 0.45%. Teradyne's payout ratio is 13.56%.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of analyst reports. UBS Group boosted their price target on Teradyne from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. The Goldman Sachs Group assumed coverage on Teradyne in a report on Thursday, July 10th. They issued a "sell" rating and a $80.00 target price for the company. Morgan Stanley boosted their price objective on shares of Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $102.00 price objective (up from $88.00) on shares of Teradyne in a report on Thursday, July 17th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Teradyne presently has an average rating of "Hold" and a consensus target price of $112.50.

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.