Icon Advisers Inc. Co. Cuts Stock Position in Teradyne, Inc. $TER

Icon Advisers Inc. Co. trimmed its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 42.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,091 shares of the company’s stock after selling 30,000 shares during the quarter. Teradyne makes up approximately 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 17th largest position. Icon Advisers Inc. Co.’s holdings in Teradyne were worth $5,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TER. Vanguard Group Inc. increased its holdings in Teradyne by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company’s stock worth $2,947,935,000 after acquiring an additional 444,940 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Teradyne by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock valued at $442,413,000 after purchasing an additional 143,058 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Teradyne by 79.7% during the second quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock valued at $340,353,000 after purchasing an additional 1,679,215 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Teradyne by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,473,173 shares of the company’s stock valued at $490,134,000 after purchasing an additional 354,876 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of Teradyne by 58.6% in the second 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 period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Trading Down 10.6%

NASDAQ:TER opened at $273.05 on Friday. The company’s 50-day moving average price is $265.14 and its 200-day moving average price is $192.80. The company has a market cap of $42.75 billion, a P/E ratio of 78.46, a P/E/G ratio of 1.90 and a beta of 1.76. Teradyne, Inc. has a twelve month low of $65.77 and a twelve month high of $344.92.

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

Teradyne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, February 13th. Teradyne’s payout ratio is currently 14.94%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TER. Stifel Nicolaus set a $325.00 price target on shares of Teradyne in a research report on Wednesday, February 4th. Bank of America lifted their price objective on Teradyne from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Citigroup boosted their price objective on Teradyne from $215.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Cantor Fitzgerald increased their target price on Teradyne from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Northland Securities restated a “market perform” rating and issued a $270.00 target price on shares of Teradyne in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Teradyne has an average rating of “Moderate Buy” and an average target price of $256.24.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 1,108 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $201.31, for a total value of $223,051.48. Following the completion of the sale, the chief executive officer directly owned 93,409 shares in the company, valued at $18,804,165.79. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Teradyne Profile

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.