Needham Investment Management LLC Purchases 4,000 Shares of Teradyne, Inc. (NASDAQ:TER)

Needham Investment Management LLC raised its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,500 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Needham Investment Management LLC’s holdings in Teradyne were worth $5,981,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TER. Norges Bank bought a new position in shares of Teradyne during the 4th quarter valued at about $270,989,000. Van ECK Associates Corp boosted its holdings in shares of Teradyne by 59.9% during the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock valued at $620,552,000 after purchasing an additional 1,846,079 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Teradyne during the 4th quarter valued at about $160,087,000. Ameriprise Financial Inc. boosted its holdings in shares of Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock valued at $608,025,000 after purchasing an additional 1,065,474 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Teradyne by 142.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company’s stock valued at $191,718,000 after purchasing an additional 894,849 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.

Teradyne Price Performance

Teradyne stock opened at $83.06 on Tuesday. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $163.21. The firm has a market capitalization of $13.32 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.83 and a beta of 1.70. The company’s 50-day moving average is $80.39 and its 200 day moving average is $105.04.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. The company had revenue of $685.70 million for the quarter, compared to analyst estimates of $680.54 million. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its board has authorized a stock buyback plan on Monday, April 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Teradyne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, May 22nd. Teradyne’s dividend payout ratio is presently 13.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TER shares. KeyCorp reissued a “sector weight” rating on shares of Teradyne in a report on Thursday, April 17th. Robert W. Baird dropped their price objective on shares of Teradyne from $140.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Cantor Fitzgerald dropped their price objective on shares of Teradyne from $150.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Northland Securities lowered their price target on shares of Teradyne from $154.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Citigroup lowered their price target on shares of Teradyne from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teradyne has a consensus rating of “Moderate Buy” and an average price target of $117.56.

Teradyne Company Profile

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.