Azzad Asset Management Inc. ADV Makes New $1.80 Million Investment in Teradyne, Inc. (NASDAQ:TER)

Azzad Asset Management Inc. ADV bought a new position in Teradyne, Inc. (NASDAQ:TER) during the first quarter, Holdings Channel.com reports. The firm bought 21,760 shares of the company’s stock, valued at approximately $1,797,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Teradyne during the fourth quarter valued at $270,989,000. Raymond James Financial Inc. purchased a new position in shares of Teradyne during the 4th quarter valued at $160,087,000. Ameriprise Financial Inc. grew its stake 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 worth $608,025,000 after acquiring an additional 1,065,474 shares during the period. Balyasny Asset Management L.P. increased its holdings in Teradyne by 142.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company’s stock worth $191,718,000 after acquiring an additional 894,849 shares during the last quarter. Finally, Aspex Management HK Ltd raised its stake in Teradyne by 35.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company’s stock valued at $407,331,000 after acquiring an additional 847,409 shares during the period. 99.77% of the stock is owned by institutional investors.

Teradyne Trading Down 3.3%

NASDAQ:TER opened at $83.08 on Friday. The company has a market capitalization of $13.33 billion, a P/E ratio of 24.95, a PEG ratio of 2.83 and a beta of 1.69. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $163.21. The firm has a fifty day simple moving average of $78.24 and a 200-day simple moving average of $100.83.

Teradyne (NASDAQ:TER) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $680.54 million. During the same period last year, the firm posted $0.51 EPS. Teradyne’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts forecast that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were issued a $0.12 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.58%. Teradyne’s payout ratio is 13.56%.

Teradyne announced that its board has approved a share buyback plan on Monday, April 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Teradyne from $120.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Susquehanna cut their price target on Teradyne from $155.00 to $133.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on Teradyne from $125.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, March 12th. TD Cowen cut their target price on Teradyne from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Vertical Research initiated coverage on Teradyne in a report on Friday, March 7th. They set a “buy” rating and a $135.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.67.

Teradyne 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.