Purus Wealth Management LLC Trims Stock Position in Teradyne, Inc. (NASDAQ:TER)

Purus Wealth Management LLC decreased its stake in Teradyne, Inc. (NASDAQ:TER) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,341 shares of the company’s stock after selling 488 shares during the period. Purus Wealth Management LLC’s holdings in Teradyne were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Teradyne during the third quarter worth approximately $2,221,000. MBB Public Markets I LLC acquired a new position in shares of Teradyne in the 2nd quarter valued at $1,619,000. Cerity Partners LLC raised its position in 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. Nomura Asset Management Co. Ltd. boosted its stake in Teradyne by 17.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 77,092 shares of the company’s stock worth $10,325,000 after purchasing an additional 11,541 shares during the period. Finally, Franklin Resources Inc. grew its position in Teradyne by 30.5% during the 3rd quarter. Franklin Resources Inc. now owns 88,879 shares of the company’s stock worth $11,878,000 after purchasing an additional 20,762 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

Teradyne Stock Performance

Teradyne stock opened at $138.40 on Monday. Teradyne, Inc. has a fifty-two week low of $92.29 and a fifty-two week high of $163.21. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46. The stock’s fifty day moving average is $121.25 and its two-hundred day moving average is $126.95.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Teradyne had a net margin of 18.75% and a return on equity of 18.56%. The firm had revenue of $737.30 million during the quarter, compared to the consensus estimate of $716.40 million. During the same period last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that Teradyne, Inc. will post 3.17 EPS for the current fiscal year.

Teradyne declared that its board has authorized a stock buyback program on Monday, November 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th were issued a $0.12 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.35%. Teradyne’s dividend payout ratio (DPR) is 15.24%.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 3,080 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 74,660 shares of the company’s stock, valued at $9,705,800. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on Teradyne from $140.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Northland Capmk raised Teradyne from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Evercore ISI increased their price target on Teradyne from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Craig Hallum dropped their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Teradyne from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.33.

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.