Norges Bank acquired a new stake in Teradyne, Inc. (NASDAQ:TER – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,060,223 shares of the company’s stock, valued at approximately $398,777,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Stephens Inc. AR grew its position in shares of Teradyne by 1.2% in the fourth quarter. Stephens Inc. AR now owns 3,332 shares of the company’s stock valued at $645,000 after purchasing an additional 41 shares during the period. Sapient Capital LLC grew its position in shares of Teradyne by 1.5% in the fourth quarter. Sapient Capital LLC now owns 2,849 shares of the company’s stock valued at $560,000 after purchasing an additional 43 shares during the period. IFP Advisors Inc grew its position in shares of Teradyne by 2.1% in the fourth quarter. IFP Advisors Inc now owns 2,731 shares of the company’s stock valued at $529,000 after purchasing an additional 57 shares during the period. Quent Capital LLC grew its position in shares of Teradyne by 3.8% in the fourth quarter. Quent Capital LLC now owns 1,738 shares of the company’s stock valued at $336,000 after purchasing an additional 63 shares during the period. Finally, Huntington National Bank grew its position in shares of Teradyne by 1.8% in the third quarter. Huntington National Bank now owns 3,566 shares of the company’s stock valued at $491,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on TER shares. Cantor Fitzgerald boosted 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. Robert W. Baird set a $350.00 price target on Teradyne in a research report on Thursday, April 30th. Wall Street Zen raised Teradyne from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group boosted their price target on Teradyne from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Evercore set a $370.00 price target on Teradyne in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.80.
Insider Transactions at Teradyne
In other news, insider Shannon John Poulin sold 656 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the sale, the insider owned 15,722 shares of the company’s stock, valued at $5,581,310. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 7,665 shares of the company’s stock, valued at $2,894,304. The trade was 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. Insiders sold 10,941 shares of company stock valued at $3,751,992 over the last quarter. Company insiders own 0.19% of the company’s stock.
Teradyne Price Performance
Shares of NASDAQ TER opened at $369.47 on Tuesday. Teradyne, Inc. has a 1-year low of $77.78 and a 1-year high of $422.11. The business has a 50-day moving average of $349.70 and a 200-day moving average of $278.44. The company has a market capitalization of $57.84 billion, a price-to-earnings ratio of 68.42, a PEG ratio of 1.54 and a beta of 1.79.
Teradyne (NASDAQ:TER – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company’s revenue was up 87.0% compared to the same quarter last year. Research analysts expect that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.
Teradyne Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This is a positive change from Teradyne’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.1%. Teradyne’s dividend payout ratio (DPR) is currently 9.63%.
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.
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