California Public Employees Retirement System Grows Stake in Teradyne, Inc. (NASDAQ:TER)

California Public Employees Retirement System lifted its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 87.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 498,614 shares of the company’s stock after acquiring an additional 232,730 shares during the period. California Public Employees Retirement System owned 0.31% of Teradyne worth $62,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TER. Thrivent Financial for Lutherans boosted its stake in Teradyne by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 6,403 shares of the company’s stock valued at $858,000 after acquiring an additional 104 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Teradyne by 87.1% in the 3rd quarter. Cerity Partners LLC now owns 11,371 shares of the company’s stock valued at $1,523,000 after purchasing an additional 5,294 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Teradyne in the 3rd quarter valued at about $194,000. Townsquare Capital LLC purchased a new position in Teradyne during the 3rd quarter worth approximately $312,000. Finally, Glenmede Trust Co. NA lifted its stake in Teradyne by 24.5% in the third quarter. Glenmede Trust Co. NA now owns 1,998 shares of the company’s stock valued at $268,000 after buying an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TER. JPMorgan Chase & Co. cut their target price on shares of Teradyne from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Citigroup lowered their price target on Teradyne from $130.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Robert W. Baird reduced their price objective on Teradyne from $140.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Bank of America lowered their target price on Teradyne from $100.00 to $85.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Vertical Research assumed coverage on shares of Teradyne in a research note on Friday, March 7th. They issued a “buy” rating and a $135.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.44.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $130.00, for a total transaction of $400,400.00. Following the completion of the transaction, the chief executive officer now directly owns 74,660 shares in the company, valued at $9,705,800. The trade was a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard John Burns sold 407 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $120.51, for a total value of $49,047.57. Following the completion of the sale, the insider now directly owns 20,764 shares in the company, valued at approximately $2,502,269.64. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,479 shares of company stock worth $1,013,134 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Teradyne Trading Up 0.0 %

Shares of Teradyne stock opened at $82.61 on Wednesday. The company has a 50-day moving average of $105.79 and a two-hundred day moving average of $116.66. Teradyne, Inc. has a 12-month low of $79.60 and a 12-month high of $163.21. The stock has a market cap of $13.36 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 2.83 and a beta of 1.46.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. On average, sell-side analysts forecast that Teradyne, Inc. will post 3.88 EPS for the current fiscal year.

Teradyne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, February 14th. Teradyne’s dividend payout ratio (DPR) is presently 14.41%.

About Teradyne

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.