M&T Bank Corp Reduces Stock Holdings in Teradyne, Inc. (NASDAQ:TER)

M&T Bank Corp cut its holdings in shares of Teradyne, Inc. (NASDAQ:TERFree Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,355 shares of the company’s stock after selling 1,496 shares during the quarter. M&T Bank Corp’s holdings in Teradyne were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TER. Interchange Capital Partners LLC grew its stake in shares of Teradyne by 8.5% in the first quarter. Interchange Capital Partners LLC now owns 2,808 shares of the company’s stock worth $232,000 after purchasing an additional 221 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Teradyne by 6.4% during the first quarter. Crossmark Global Holdings Inc. now owns 4,328 shares of the company’s stock valued at $357,000 after buying an additional 261 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Teradyne by 40.1% during the first quarter. Penserra Capital Management LLC now owns 136,839 shares of the company’s stock valued at $11,301,000 after buying an additional 39,190 shares in the last quarter. HM Payson & Co. boosted its stake in Teradyne by 36.3% during the first quarter. HM Payson & Co. now owns 928 shares of the company’s stock valued at $77,000 after buying an additional 247 shares in the last quarter. Finally, VELA Investment Management LLC boosted its stake in Teradyne by 35.1% during the first quarter. VELA Investment Management LLC now owns 20,803 shares of the company’s stock valued at $1,718,000 after buying an additional 5,406 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on TER shares. Morgan Stanley upped their target price on Teradyne from $68.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. reduced their price objective on Teradyne from $120.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group began coverage on Teradyne in a research note on Thursday, July 10th. They issued a “sell” rating and a $80.00 price objective for the company. Susquehanna reduced their price objective on Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a research note on Wednesday, April 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Teradyne in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teradyne has an average rating of “Moderate Buy” and an average price target of $112.50.

Read Our Latest Stock Analysis on TER

Teradyne Price Performance

Teradyne stock opened at $93.03 on Wednesday. The firm has a 50 day simple moving average of $85.75 and a 200-day simple moving average of $96.15. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 4.15 and a beta of 1.70. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $163.21.

Teradyne (NASDAQ:TERGet Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. Teradyne had a net margin of 19.86% and a return on equity of 20.06%. The firm had revenue of $685.70 million for the quarter, compared to analyst estimates of $680.54 million. During the same period in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne declared that its Board of Directors has initiated a stock buyback program on Monday, April 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Teradyne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. Teradyne’s dividend payout ratio (DPR) is presently 13.56%.

About Teradyne

(Free Report)

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.

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Institutional Ownership by Quarter for Teradyne (NASDAQ:TER)

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