Assenagon Asset Management S.A. Acquires 504,944 Shares of Teradyne, Inc. (NASDAQ:TER)

Assenagon Asset Management S.A. grew its position in Teradyne, Inc. (NASDAQ:TER) by 54.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,428,012 shares of the company’s stock after purchasing an additional 504,944 shares during the period. Assenagon Asset Management S.A. owned about 0.89% of Teradyne worth $117,954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Teradyne in the fourth quarter valued at about $34,000. AllSquare Wealth Management LLC boosted its position in Teradyne by 200.0% during the fourth quarter. AllSquare Wealth Management LLC now owns 300 shares of the company’s stock worth $38,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC boosted its position in Teradyne by 264.0% during the fourth quarter. Manchester Capital Management LLC now owns 313 shares of the company’s stock worth $39,000 after purchasing an additional 227 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Teradyne during the fourth quarter worth about $45,000. Finally, Sentry Investment Management LLC bought a new position in Teradyne during the first quarter worth about $45,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Teradyne from $140.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on shares of Teradyne from $120.00 to $92.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of Teradyne from $125.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, March 12th. Vertical Research assumed coverage on shares of Teradyne in a research note on Friday, March 7th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Cantor Fitzgerald lowered their target price on shares of Teradyne from $150.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Teradyne has a consensus rating of “Moderate Buy” and an average price target of $114.67.

Teradyne Stock Up 2.2%

Teradyne stock opened at $88.70 on Wednesday. The business has a 50-day simple moving average of $77.31 and a two-hundred day simple moving average of $101.33. The company has a market cap of $14.23 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.83 and a beta of 1.69. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21.

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

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.48 annualized dividend and a yield of 0.54%. Teradyne’s payout ratio is 13.56%.

Teradyne announced that its Board of Directors has initiated a stock buyback program on Monday, April 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.