Zurcher Kantonalbank Zurich Cantonalbank Buys 4,385 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Zurcher Kantonalbank increased its stake in Teradyne, Inc. by 14.1%, now holding 35,517 shares valued at approximately $2.93 million.
• Teradyne recently reported a quarterly earnings per share (EPS) of $0.57, exceeding estimates, despite experiencing a 10.7% decline in revenue compared to the previous year.
• The company has initiated a buyback program allowing for the repurchase of up to $1 billion in shares, indicating confidence in its stock valuation from management.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 14.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,517 shares of the company's stock after purchasing an additional 4,385 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Teradyne were worth $2,934,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after purchasing an additional 1,065,474 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Teradyne by 142.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company's stock valued at $191,718,000 after buying an additional 894,849 shares during the last quarter. Aspex Management HK Ltd increased its holdings in Teradyne by 35.5% in the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock valued at $407,331,000 after buying an additional 847,409 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Teradyne by 54.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,428,012 shares of the company's stock valued at $117,954,000 after acquiring an additional 504,944 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Teradyne by 213.3% in the 4th quarter. Federated Hermes Inc. now owns 729,221 shares of the company's stock valued at $91,824,000 after buying an additional 496,491 shares during the period. Institutional investors own 99.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TER. KeyCorp reiterated a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Susquehanna reduced their price target on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus lifted their price target on shares of Teradyne from $85.00 to $100.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Cowen restated a "buy" rating on shares of Teradyne in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald set a $105.00 price objective on shares of Teradyne and gave the company an "overweight" rating in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teradyne presently has an average rating of "Hold" and a consensus price target of $114.44.

Teradyne Trading Up 1.1%

Shares of Teradyne stock traded up $1.21 during trading on Tuesday, hitting $106.93. The stock had a trading volume of 6,016,445 shares, compared to its average volume of 3,500,616. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 2.19 and a beta of 1.72. The business's 50-day moving average is $90.28 and its 200 day moving average is $92.25. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $144.16.

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

Teradyne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio is currently 16.61%.

Teradyne announced that its Board of Directors has authorized a stock repurchase plan on Monday, April 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of the firm's 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 transaction, the chief executive officer owned 97,547 shares in the company, valued at approximately $10,313,644.31. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

About Teradyne

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.