Parnassus Investments LLC Sells 52,317 Shares of Teradyne, Inc. (NASDAQ:TER)

Parnassus Investments LLC lowered its holdings in Teradyne, Inc. (NASDAQ:TER) by 19.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 223,335 shares of the company’s stock after selling 52,317 shares during the quarter. Parnassus Investments LLC owned about 0.14% of Teradyne worth $29,911,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Swedbank AB grew its stake in shares of Teradyne by 198.8% during the second quarter. Swedbank AB now owns 641,614 shares of the company’s stock valued at $95,145,000 after purchasing an additional 426,900 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Teradyne by 17.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 335,636 shares of the company’s stock valued at $37,887,000 after buying an additional 50,156 shares during the period. MBB Public Markets I LLC bought a new stake in shares of Teradyne during the second quarter worth $1,619,000. SG Americas Securities LLC lifted its stake in shares of Teradyne by 65.1% during the second quarter. SG Americas Securities LLC now owns 36,515 shares of the company’s stock valued at $5,415,000 after acquiring an additional 14,395 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Teradyne by 161.6% in the first quarter. Cetera Investment Advisers now owns 19,075 shares of the company’s stock valued at $2,152,000 after acquiring an additional 11,782 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Richard John Burns sold 789 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $132.80, for a total value of $104,779.20. Following the completion of the transaction, the insider now owns 21,864 shares of the company’s stock, valued at approximately $2,903,539.20. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mercedes Johnson sold 625 shares of the business’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 sale, the director now directly owns 16,518 shares in the company, valued at $2,204,987.82. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,199 shares of company stock worth $1,080,634. Corporate insiders own 0.18% of the company’s stock.

Teradyne Trading Up 1.5 %

NASDAQ:TER opened at $104.15 on Tuesday. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21. The stock has a 50-day moving average price of $121.93 and a two-hundred day moving average price of $132.16. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.22 and a beta of 1.52.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) 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 business had revenue of $737.30 million during the quarter, compared to analysts’ expectations of $716.40 million. During the same period in the prior year, the business earned $0.80 EPS. Teradyne’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Teradyne, Inc. will post 3.17 earnings per share for the current year.

Teradyne announced that its board has initiated a stock repurchase program on Monday, November 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Teradyne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, November 25th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, November 25th. Teradyne’s payout ratio is presently 15.24%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. Evercore ISI increased their price objective on shares of Teradyne from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Northland Securities lowered their target price 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. Citigroup cut their price target on Teradyne from $185.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Susquehanna lifted their price objective on Teradyne from $130.00 to $145.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $142.62.

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.