Alambic Investment Management L.P. Lowers Position in Teradyne, Inc. (TER)
Alambic Investment Management L.P. cut its holdings in Teradyne, Inc. (NYSE:TER) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,760 shares of the semiconductor company’s stock after selling 5,900 shares during the quarter. Alambic Investment Management L.P.’s holdings in Teradyne were worth $1,330,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in TER. WFG Advisors LP lifted its position in shares of Teradyne by 21.9% during the second quarter. WFG Advisors LP now owns 3,900 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 700 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Teradyne by 2,678.1% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,195 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,044 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of Teradyne during the third quarter valued at about $179,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Teradyne during the third quarter valued at about $201,000. Finally, Fiduciary Trust Co. purchased a new stake in shares of Teradyne during the fourth quarter valued at about $205,000. 96.62% of the stock is owned by institutional investors.
In related news, CFO Gregory R. Beecher sold 71,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $46.57, for a total value of $3,320,441.00. Following the transaction, the chief financial officer now owns 77,676 shares in the company, valued at approximately $3,617,371.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Charles Jeffrey Gray sold 5,040 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $238,140.00. Following the completion of the transaction, the vice president now owns 31,593 shares in the company, valued at approximately $1,492,769.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,009 shares of company stock worth $11,088,477. Corporate insiders own 0.62% of the company’s stock.
Teradyne (NYSE:TER) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.12. Teradyne had a net margin of 12.06% and a return on equity of 23.37%. The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $438.85 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. sell-side analysts forecast that Teradyne, Inc. will post 2.47 EPS for the current year.
Teradyne declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. This is an increase from Teradyne’s previous quarterly dividend of $0.07. Teradyne’s dividend payout ratio is 22.22%.
TER has been the subject of several analyst reports. Robert W. Baird reissued a “positive” rating and set a $48.00 price target (up from $37.00) on shares of Teradyne in a research report on Friday, October 27th. KeyCorp reissued a “buy” rating and set a $47.00 price target on shares of Teradyne in a research report on Friday, October 27th. Zacks Investment Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research report on Friday, October 27th. Credit Suisse Group increased their price target on shares of Teradyne from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup increased their price target on shares of Teradyne from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Teradyne has an average rating of “Buy” and an average target price of $48.00.
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Teradyne Company Profile
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.
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