DigitalBridge Group Inc. Grows Position in Teradyne, Inc. (NASDAQ:TER)

DigitalBridge Group Inc. raised its holdings in Teradyne, Inc. (NASDAQ:TER) by 41.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 220,270 shares of the company’s stock after acquiring an additional 64,299 shares during the quarter. Teradyne accounts for about 2.0% of DigitalBridge Group Inc.’s holdings, making the stock its 20th biggest position. DigitalBridge Group Inc.’s holdings in Teradyne were worth $27,736,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Teradyne in the 4th quarter worth approximately $270,989,000. Van ECK Associates Corp boosted its position in Teradyne by 59.9% during the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company’s stock worth $620,552,000 after purchasing an additional 1,846,079 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Teradyne in the fourth quarter valued at $160,087,000. Ameriprise Financial Inc. increased its position in shares of Teradyne by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company’s stock valued at $608,025,000 after buying an additional 1,065,474 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake 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 worth $191,718,000 after buying an additional 894,849 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Down 1.9%

Shares of Teradyne stock opened at $76.98 on Friday. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $163.21. The business’s fifty day moving average is $78.16 and its two-hundred day moving average is $103.42. The firm has a market cap of $12.35 billion, a PE ratio of 23.12, a P/E/G ratio of 2.83 and a beta of 1.70.

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

Teradyne declared that its Board of Directors has authorized a stock buyback program on Monday, April 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Teradyne Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, May 22nd. Teradyne’s dividend payout ratio is currently 13.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TER shares. Cantor Fitzgerald lowered their price objective 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. Vertical Research assumed coverage on shares of Teradyne in a research report on Friday, March 7th. They issued a “buy” rating and a $135.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Teradyne from $120.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Morgan Stanley reduced their target price on Teradyne from $81.00 to $69.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Teradyne in a report on Thursday, April 17th. 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.56.

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.