Sumitomo Life Insurance Co. Sells 112 Shares of Teradyne, Inc. (NASDAQ:TER)

Sumitomo Life Insurance Co. reduced its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 3,366 shares of the company’s stock after selling 112 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Teradyne were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Teradyne during the third quarter valued at $29,000. Quarry LP lifted its position in shares of Teradyne by 256.1% during the 2nd quarter. Quarry LP now owns 235 shares of the company’s stock valued at $35,000 after buying an additional 169 shares during the last quarter. Coastline Trust Co bought a new position in shares of Teradyne during the 3rd quarter worth $46,000. Brooklyn Investment Group purchased a new stake in Teradyne in the 3rd quarter worth about $52,000. Finally, Eastern Bank bought a new stake in Teradyne in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Price Performance

Shares of TER opened at $115.08 on Friday. Teradyne, Inc. has a 1-year low of $92.29 and a 1-year high of $163.21. The company has a market capitalization of $18.74 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.25 and a beta of 1.46. The firm’s 50 day simple moving average is $125.22 and its 200 day simple moving average is $125.64.

Teradyne (NASDAQ:TER) last posted 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 net margin of 18.75% and a return on equity of 18.56%. On average, equities analysts anticipate that Teradyne, Inc. will post 3.17 earnings per share for the current year.

Teradyne announced that its board has authorized a share repurchase plan on Monday, November 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.42%. Teradyne’s dividend payout ratio (DPR) is presently 15.24%.

Insider Activity at Teradyne

In other news, CFO Sanjay Mehta sold 1,789 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $120.51, for a total transaction of $215,592.39. Following the transaction, the chief financial officer now directly owns 33,308 shares of the company’s stock, valued at approximately $4,013,947.08. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Stephen Smith sold 3,080 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the sale, the chief executive officer now directly owns 74,660 shares of the company’s stock, valued at approximately $9,705,800. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,383 shares of company stock valued at $677,935. Corporate insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Susquehanna lifted their price objective on shares of Teradyne from $145.00 to $165.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Northland Capmk upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Northland Securities upgraded Teradyne from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $117.00 to $154.00 in a research report on Monday, January 6th. Finally, StockNews.com raised Teradyne from a “sell” rating to a “hold” rating in a report on Sunday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teradyne currently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

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.