ICICI Prudential Asset Management Co Ltd Lowers Holdings in Teradyne, Inc. $TER

ICICI Prudential Asset Management Co Ltd decreased its position in Teradyne, Inc. (NASDAQ:TER) by 26.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,117 shares of the company’s stock after selling 13,100 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Teradyne were worth $5,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Teradyne by 2.1% in the third quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company’s stock worth $2,947,935,000 after buying an additional 444,940 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Teradyne by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock worth $442,413,000 after acquiring an additional 143,058 shares during the last quarter. Federated Hermes Inc. raised its holdings in Teradyne by 79.7% in the 2nd quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock worth $340,353,000 after acquiring an additional 1,679,215 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Teradyne by 11.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,473,173 shares of the company’s stock valued at $490,134,000 after acquiring an additional 354,876 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in Teradyne by 58.6% during the 2nd quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company’s stock valued at $274,036,000 after purchasing an additional 1,125,868 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Up 0.3%

Shares of TER stock opened at $315.90 on Friday. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $327.99. The stock has a market cap of $49.47 billion, a P/E ratio of 90.78, a P/E/G ratio of 1.95 and a beta of 1.83. The company has a 50 day simple moving average of $238.35 and a two-hundred day simple moving average of $176.91.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $970.44 million. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, equities analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a $0.12 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. Teradyne’s dividend payout ratio is presently 14.94%.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 1,108 shares of Teradyne stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $201.31, for a total transaction of $223,051.48. Following the transaction, the chief executive officer directly owned 93,409 shares of the company’s stock, valued at $18,804,165.79. The trade was a 1.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird set a $305.00 price target on Teradyne in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teradyne in a report on Thursday, January 22nd. iA Financial set a $175.00 target price on shares of Teradyne in a research note on Tuesday, October 28th. Susquehanna reaffirmed a “positive” rating and set a $335.00 price target on shares of Teradyne in a report on Wednesday, February 4th. Finally, TD Cowen reissued a “buy” rating on shares of Teradyne in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.24.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.