Kayne Anderson Rudnick Investment Management LLC Trims Position in Teradyne, Inc. (NASDAQ:TER)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 34.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,088,009 shares of the company’s stock after selling 1,619,556 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Teradyne were worth $388,842,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TER. Dakota Wealth Management lifted its stake in shares of Teradyne by 3.1% during the 4th quarter. Dakota Wealth Management now owns 5,355 shares of the company’s stock worth $674,000 after purchasing an additional 160 shares during the period. Marshall Financial Group LLC increased its holdings in shares of Teradyne by 2.4% during the 4th quarter. Marshall Financial Group LLC now owns 9,785 shares of the company’s stock worth $1,232,000 after buying an additional 230 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Teradyne during the 4th quarter worth $104,000. Blue Trust Inc. increased its holdings in shares of Teradyne by 19.9% during the 4th quarter. Blue Trust Inc. now owns 2,150 shares of the company’s stock worth $288,000 after buying an additional 357 shares during the last quarter. Finally, United Asset Strategies Inc. increased its holdings in shares of Teradyne by 6.0% during the 4th quarter. United Asset Strategies Inc. now owns 70,151 shares of the company’s stock worth $8,833,000 after buying an additional 3,943 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Price Performance

NASDAQ:TER opened at $76.98 on Friday. The firm has a 50-day moving average of $78.16 and a two-hundred day moving average of $103.38. The stock has a market cap of $12.35 billion, a P/E ratio of 23.12, a PEG ratio of 2.83 and a beta of 1.70. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $163.21.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $685.70 million during the quarter, compared to analysts’ expectations of $680.54 million. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities analysts expect 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 will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be given a $0.12 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.62%. Teradyne’s payout ratio is currently 13.56%.

Teradyne declared that its board has authorized a share repurchase plan on Monday, April 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on TER. Bank of America dropped their price objective on Teradyne from $100.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, March 12th. Citigroup dropped their price objective on Teradyne from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. KeyCorp restated a “sector weight” rating on shares of Teradyne in a report on Thursday, April 17th. Susquehanna dropped their price objective on Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Finally, TD Cowen dropped their price objective on Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.56.

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.