Verition Fund Management LLC Purchases 69,488 Shares of Teradyne, Inc. (NASDAQ:TER)

Verition Fund Management LLC increased its holdings in Teradyne, Inc. (NASDAQ:TER) by 975.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 76,611 shares of the company’s stock after acquiring an additional 69,488 shares during the quarter. Verition Fund Management LLC’s holdings in Teradyne were worth $10,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TER. Mitchell & Pahl Private Wealth LLC grew its stake in Teradyne by 1.1% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,244 shares of the company’s stock worth $1,074,000 after buying an additional 79 shares in the last quarter. Whittier Trust Co. grew its position in Teradyne by 10.2% in the third quarter. Whittier Trust Co. now owns 950 shares of the company’s stock worth $127,000 after acquiring an additional 88 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Teradyne by 17.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $97,000 after acquiring an additional 96 shares during the last quarter. Wealth Alliance raised its position in Teradyne by 3.3% during the second quarter. Wealth Alliance now owns 3,044 shares of the company’s stock valued at $451,000 after purchasing an additional 98 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Teradyne by 10.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,115 shares of the company’s stock worth $149,000 after purchasing an additional 103 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total transaction of $400,400.00. Following the sale, the chief executive officer now owns 83,816 shares in the company, valued at approximately $10,896,080. The trade was a 3.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mercedes Johnson sold 625 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total transaction of $83,431.25. Following the completion of the sale, the director now directly owns 16,518 shares in the company, valued at $2,204,987.82. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,199 shares of company stock worth $1,080,634 over the last 90 days. 0.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird reduced their price objective on Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com raised shares of Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Stifel Nicolaus cut their price objective on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Cantor Fitzgerald upgraded shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Friday, August 16th. Finally, Craig Hallum cut their price target on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.62.

Teradyne Price Performance

Shares of NASDAQ:TER opened at $110.00 on Friday. The stock’s 50-day moving average is $117.95 and its 200 day moving average is $131.12. The company has a market cap of $17.91 billion, a PE ratio of 34.92, a P/E/G ratio of 2.38 and a beta of 1.52. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm had revenue of $737.30 million for the quarter, compared to analysts’ expectations of $716.40 million. During the same period in the previous year, the firm earned $0.80 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne declared that its Board of Directors has authorized a share buyback plan on Monday, November 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 0.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, November 25th. Teradyne’s payout ratio is 15.24%.

Teradyne Company 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.