Citigroup Inc. Trims Stock Position in Teradyne, Inc. (NASDAQ:TER)

Citigroup Inc. reduced its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,493 shares of the company’s stock after selling 78,936 shares during the period. Citigroup Inc.’s holdings in Teradyne were worth $172,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TER. Ashton Thomas Private Wealth LLC acquired a new stake in Teradyne during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Teradyne during the third quarter worth about $29,000. Rothschild Investment LLC purchased a new stake in shares of Teradyne during the second quarter valued at approximately $33,000. Quarry LP increased its stake in Teradyne by 256.1% during the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock worth $35,000 after buying an additional 169 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of Teradyne by 76.1% during the second quarter. Tortoise Investment Management LLC now owns 273 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insider Transactions at Teradyne

In other news, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction that occurred 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 $10,896,080. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mercedes Johnson sold 625 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 16,518 shares of the company’s stock, valued at $2,204,987.82. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,199 shares of company stock valued at $1,080,634 in the last quarter. Insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TER shares. Robert W. Baird lowered their price target on Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Susquehanna increased their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Northland Securities decreased their price target on shares of Teradyne from $126.00 to $117.00 and set a “market perform” rating for the company in a report on Friday, October 25th. Cantor Fitzgerald raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price objective for the company in a research report on Friday, August 16th. Finally, Evercore ISI raised their target price on shares of Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teradyne has an average rating of “Hold” and an average price target of $142.62.

Teradyne Stock Performance

Shares of TER stock opened at $105.24 on Friday. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21. The stock has a fifty day moving average of $120.46 and a two-hundred day moving average of $131.65. The firm has a market capitalization of $17.14 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.22 and a beta of 1.52.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $716.40 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts predict that Teradyne, Inc. will post 3.17 earnings per share for the current fiscal year.

Teradyne announced that its Board of Directors has initiated a stock repurchase program on Monday, November 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.46%. Teradyne’s dividend payout ratio (DPR) is 15.24%.

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.