M&T Bank Corp boosted its position in Teradyne, Inc. (NASDAQ:TER – Get Rating) by 384.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,935 shares of the company’s stock after buying an additional 18,204 shares during the quarter. M&T Bank Corp’s holdings in Teradyne were worth $502,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Reynders McVeigh Capital Management LLC raised its stake in Teradyne by 85.5% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 92,147 shares of the company’s stock valued at $8,252,000 after purchasing an additional 42,484 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Teradyne by 62.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 38,046 shares of the company’s stock valued at $3,407,000 after purchasing an additional 14,697 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Teradyne during the 2nd quarter valued at $1,056,000. Illinois Municipal Retirement Fund raised its stake in Teradyne by 106.9% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 157,321 shares of the company’s stock valued at $14,088,000 after purchasing an additional 81,295 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in Teradyne by 28.1% during the 2nd quarter. ICICI Prudential Asset Management Co Ltd now owns 61,216 shares of the company’s stock valued at $5,525,000 after purchasing an additional 13,418 shares during the last quarter. 98.52% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. TheStreet cut shares of Teradyne from a “b-” rating to a “c+” rating in a research note on Thursday, October 13th. UBS Group dropped their price objective on shares of Teradyne from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Craig Hallum upgraded shares of Teradyne from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Thursday, October 27th. Cowen dropped their price objective on shares of Teradyne to $110.00 in a research note on Thursday, October 27th. Finally, Northland Securities dropped their price objective on shares of Teradyne from $85.00 to $74.00 and set a “market perform” rating for the company in a research note on Monday, October 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Teradyne presently has an average rating of “Moderate Buy” and a consensus target price of $94.65.
Teradyne Stock Up 3.2 %
Teradyne (NASDAQ:TER – Get Rating) last issued its earnings results on Tuesday, October 25th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.11. The company had revenue of $827.07 million for the quarter, compared to analyst estimates of $800.20 million. Teradyne had a net margin of 23.38% and a return on equity of 33.39%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. As a group, research analysts forecast that Teradyne, Inc. will post 4.07 EPS for the current fiscal year.
Teradyne Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Wednesday, August 31st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, August 30th. Teradyne’s dividend payout ratio (DPR) is presently 9.84%.
Insider Activity at Teradyne
In related news, insider Brad Robbins sold 3,144 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $75.84, for a total value of $238,440.96. Following the sale, the insider now directly owns 44,755 shares in the company, valued at approximately $3,394,219.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Teradyne, Inc designs, develops, manufactures, sells, and supports automatic test equipment worldwide. The company operates through Semiconductor Test, System Test, Industrial Automation, and Wireless Test segments. The Semiconductor Test segment offers products and services for wafer level and device package testing in automotive, industrial, communications, consumer, smartphones, cloud computer and electronic game, and other applications.
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