Chevy Chase Trust Holdings LLC Cuts Stake in Teradyne, Inc. $TER

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,581 shares of the company’s stock after selling 26,952 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Teradyne were worth $16,321,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ausdal Financial Partners Inc. bought a new position in shares of Teradyne during the 3rd quarter valued at $657,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Teradyne by 35.8% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,127 shares of the company’s stock worth $1,916,000 after purchasing an additional 3,724 shares during the period. California Public Employees Retirement System lifted its stake in Teradyne by 161.2% in the third quarter. California Public Employees Retirement System now owns 1,047,826 shares of the company’s stock worth $144,223,000 after purchasing an additional 646,648 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Teradyne by 48.6% during the third quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock valued at $395,427,000 after buying an additional 940,000 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Teradyne by 350.8% during the third quarter. Alliancebernstein L.P. now owns 875,867 shares of the company’s stock valued at $120,554,000 after buying an additional 681,571 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TER. Cantor Fitzgerald raised their price objective on Teradyne from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Zacks Research upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Teradyne from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Evercore boosted their price objective on Teradyne from $200.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada set a $270.00 price objective on Teradyne in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.73.

Teradyne Trading Up 4.1%

Shares of NASDAQ TER opened at $298.27 on Tuesday. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $344.92. The firm has a market capitalization of $46.70 billion, a PE ratio of 85.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.76. The firm has a fifty day simple moving average of $276.38 and a two-hundred day simple moving average of $201.54.

Teradyne (NASDAQ:TER) last announced its earnings results on Tuesday, February 3rd. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $970.44 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. On average, sell-side analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, February 13th. Teradyne’s payout ratio is presently 14.94%.

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.