Westpac Banking Corp acquired a new stake in Teradyne, Inc. (NYSE:TER) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 125,623 shares of the semiconductor company’s stock, valued at approximately $4,646,000.
Other hedge funds also recently added to or reduced their stakes in the company. Hartford Investment Management Co. bought a new stake in shares of Teradyne in the 2nd quarter valued at approximately $212,000. Perpetual Ltd bought a new stake in shares of Teradyne in the 3rd quarter valued at approximately $215,000. Emerald Advisers Inc. PA bought a new stake in shares of Teradyne in the 3rd quarter valued at approximately $281,000. Cornerstone Wealth Management LLC bought a new stake in shares of Teradyne in the 3rd quarter valued at approximately $214,000. Finally, Strs Ohio bought a new stake in shares of Teradyne in the 2nd quarter valued at approximately $309,000.
TER has been the topic of several analyst reports. Citigroup lowered their price objective on Teradyne from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, September 25th. Cowen set a $36.00 price objective on Teradyne and gave the company a “hold” rating in a research note on Wednesday, October 24th. ValuEngine lowered Teradyne from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Goldman Sachs Group lowered Teradyne from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Finally, Bank of America lowered Teradyne from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Monday, November 26th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Teradyne presently has an average rating of “Hold” and a consensus target price of $43.70.
Teradyne (NYSE:TER) last announced its earnings results on Tuesday, October 23rd. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $566.90 million for the quarter, compared to the consensus estimate of $556.87 million. Teradyne had a return on equity of 23.50% and a net margin of 9.81%. Teradyne’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. On average, sell-side analysts expect that Teradyne, Inc. will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, November 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, November 27th. Teradyne’s payout ratio is currently 15.38%.
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Teradyne, Inc designs, develops, manufactures, sells, and supports automatic test equipment worldwide. Its Semiconductor Test segment offers semiconductor test products and services for wafer level and device package testing in automotive, industrial, communications, consumer, computer and electronic game, and other applications.
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