Eventide Asset Management LLC Takes $7.49 Million Position in Teradyne, Inc. $TER

Eventide Asset Management LLC bought a new stake in Teradyne, Inc. (NASDAQ:TER) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 38,632 shares of the company’s stock, valued at approximately $7,488,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TER. Norges Bank bought a new stake in shares of Teradyne in the 4th quarter valued at about $398,777,000. Wellington Management Group LLP lifted its stake in shares of Teradyne by 13,949.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock valued at $280,357,000 after acquiring an additional 2,022,389 shares during the last quarter. Aspex Management HK Ltd bought a new stake in shares of Teradyne in the 4th quarter valued at about $199,723,000. Alkeon Capital Management LLC lifted its stake in shares of Teradyne by 48.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock valued at $395,427,000 after acquiring an additional 940,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Teradyne by 3,233.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company’s stock valued at $176,144,000 after acquiring an additional 882,723 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.

Teradyne Stock Performance

Shares of NASDAQ:TER opened at $403.20 on Monday. Teradyne, Inc. has a 52-week low of $83.00 and a 52-week high of $422.11. The firm has a market capitalization of $63.12 billion, a P/E ratio of 74.67, a P/E/G ratio of 1.66 and a beta of 1.79. The stock has a 50 day moving average price of $364.24 and a 200-day moving average price of $292.13.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue was up 87.0% compared to the same quarter last year. On average, equities analysts forecast that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a $0.13 dividend. The ex-dividend date of this dividend 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 is currently 9.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TER shares. UBS Group boosted their target price on Teradyne from $325.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Cantor Fitzgerald upped their price target on Teradyne from $330.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Citigroup upped their price target on Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore set a $370.00 price target on Teradyne in a research report on Thursday, April 30th. Finally, Stifel Nicolaus upped their price target on Teradyne from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.80.

Insider Transactions at Teradyne

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $338.98, for a total value of $2,914,211.06. Following the completion of the transaction, the chief executive officer owned 124,470 shares of the company’s stock, valued at approximately $42,192,840.60. This represents a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the transaction, the vice president directly owned 7,665 shares of the company’s stock, valued at $2,894,304. This represents a 8.15% decrease in their position. 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 10,941 shares of company stock valued at $3,751,992. Corporate 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.