Zweig DiMenna Associates LLC Sells 42,595 Shares of Teradyne, Inc. $TER

Zweig DiMenna Associates LLC trimmed its holdings in Teradyne, Inc. (NASDAQ:TER) by 52.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 38,034 shares of the company’s stock after selling 42,595 shares during the period. Teradyne comprises approximately 1.6% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 22nd largest holding. Zweig DiMenna Associates LLC’s holdings in Teradyne were worth $11,276,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Teradyne during the 4th quarter valued at $398,777,000. Wellington Management Group LLP increased its stake in Teradyne by 13,949.4% in the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after purchasing an additional 2,022,389 shares during the period. Aspex Management HK Ltd purchased a new stake in Teradyne in the fourth quarter worth $199,723,000. Corient Private Wealth LLC lifted its position in shares of Teradyne by 2,189.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,916 shares of the company’s stock worth $208,254,000 after purchasing an additional 1,028,916 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Teradyne by 3,233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company’s stock valued at $176,144,000 after purchasing an additional 882,723 shares during the period. 99.77% of the stock is owned by institutional investors.

Teradyne Trading Up 3.6%

Shares of Teradyne stock opened at $353.23 on Wednesday. The firm has a market cap of $55.29 billion, a P/E ratio of 65.41, a P/E/G ratio of 0.99 and a beta of 1.74. Teradyne, Inc. has a 12 month low of $88.60 and a 12 month high of $487.91. The stock’s fifty day moving average price is $384.24 and its 200-day moving average price is $325.32.

Teradyne (NASDAQ:TER) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 87.0% on a year-over-year basis. Analysts forecast that Teradyne, Inc. will post 7.2 earnings per share for the current year.

Teradyne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a $0.13 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.1%. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s dividend payout ratio (DPR) is presently 9.63%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Teradyne from $350.00 to $465.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Citigroup lifted their price objective on shares of Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. upgraded shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 target price on the stock in a research note on Thursday, April 30th. Finally, Bank of America raised their target price on shares of Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.53.

Insider Transactions at Teradyne

In other news, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the sale, the vice president owned 7,665 shares of the company’s stock, valued at approximately $2,894,304. This represents a 8.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares in the company, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,941 shares of company stock valued at $5,444,112. Company insiders own 0.19% of the company’s stock.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company’s product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.