Synovus Financial Corp Lowers Stock Position in Teradyne, Inc. (NYSE:TER)

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Synovus Financial Corp cut its holdings in shares of Teradyne, Inc. (NYSE:TER) by 76.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,504 shares of the semiconductor company’s stock after selling 21,494 shares during the period. Synovus Financial Corp’s holdings in Teradyne were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in shares of Teradyne by 0.4% during the second quarter. Baillie Gifford & Co. now owns 8,613,157 shares of the semiconductor company’s stock worth $412,656,000 after purchasing an additional 36,924 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Teradyne by 24.0% during the second quarter. Renaissance Technologies LLC now owns 5,084,800 shares of the semiconductor company’s stock worth $243,613,000 after purchasing an additional 985,600 shares during the period. Waddell & Reed Financial Inc. lifted its holdings in shares of Teradyne by 10.5% during the second quarter. Waddell & Reed Financial Inc. now owns 2,839,961 shares of the semiconductor company’s stock worth $136,063,000 after purchasing an additional 270,238 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Teradyne by 7.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,533,125 shares of the semiconductor company’s stock worth $121,362,000 after purchasing an additional 170,651 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of Teradyne by 2.1% during the second quarter. Macquarie Group Ltd. now owns 2,384,512 shares of the semiconductor company’s stock worth $114,242,000 after purchasing an additional 48,076 shares during the period.

TER has been the subject of several recent research reports. UBS Group increased their price target on Teradyne from $47.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Deutsche Bank raised their target price on Teradyne from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, October 24th. DA Davidson raised their target price on Teradyne to $60.00 and gave the company a “neutral” rating in a report on Friday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised Teradyne from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Saturday, September 7th. Finally, Robert W. Baird raised their target price on Teradyne from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $58.09.

Teradyne stock traded up $0.94 during midday trading on Friday, reaching $63.51. The company’s stock had a trading volume of 2,024,851 shares, compared to its average volume of 2,286,867. Teradyne, Inc. has a fifty-two week low of $28.73 and a fifty-two week high of $65.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.76 and a current ratio of 4.10. The stock’s 50 day simple moving average is $60.44 and its 200 day simple moving average is $51.98. The firm has a market capitalization of $10.64 billion, a PE ratio of 27.14, a P/E/G ratio of 2.02 and a beta of 1.25.

Teradyne (NYSE:TER) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Teradyne had a return on equity of 23.50% and a net margin of 9.81%. The company had revenue of $582.04 million during the quarter, compared to the consensus estimate of $565.43 million. During the same quarter last year, the company earned $0.71 earnings per share. Teradyne’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that Teradyne, Inc. will post 2.25 earnings per share for the current year.

In other news, Director Michael A. Bradley sold 14,148 shares of Teradyne stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $61.92, for a total transaction of $876,044.16. Following the completion of the transaction, the director now owns 56,594 shares of the company’s stock, valued at approximately $3,504,300.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Bradley sold 7,074 shares of Teradyne stock in a transaction on Monday, October 28th. The stock was sold at an average price of $64.30, for a total value of $454,858.20. Following the transaction, the director now directly owns 40,520 shares of the company’s stock, valued at approximately $2,605,436. The disclosure for this sale can be found here. Insiders have sold a total of 46,234 shares of company stock valued at $2,922,166 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.

About Teradyne

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.

Further Reading: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for Teradyne (NYSE:TER)

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