Simmons Bank purchased a new position in Teradyne, Inc. (NASDAQ:TER – Free Report) in the first quarter, Holdings Channel.com reports. The firm purchased 3,632 shares of the company’s stock, valued at approximately $1,077,000.
Several other hedge funds have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its position in Teradyne by 12.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock worth $342,000 after purchasing an additional 468 shares during the period. Caxton Associates LLP bought a new position in shares of Teradyne during the 1st quarter valued at $297,000. Cresset Asset Management LLC boosted its stake in shares of Teradyne by 11.6% in the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock worth $608,000 after buying an additional 702 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Teradyne by 467.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock worth $306,000 after buying an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Teradyne by 5.1% in the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock worth $6,755,000 after acquiring an additional 3,651 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Citigroup upped their price objective on Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price target for the company in a research note on Thursday, April 30th. Cantor Fitzgerald boosted their price target on Teradyne from $400.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday. Susquehanna increased their price objective on shares of Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Teradyne from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $382.87.
Teradyne Stock Performance
Shares of Teradyne stock opened at $483.84 on Wednesday. Teradyne, Inc. has a one year low of $88.60 and a one year high of $487.91. The stock’s fifty day moving average is $386.08 and its 200 day moving average is $313.30. The stock has a market cap of $75.74 billion, a P/E ratio of 89.60, a P/E/G ratio of 1.34 and a beta of 1.79.
Teradyne (NASDAQ:TER – Get Free Report) last released its earnings results 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.75 earnings per share. Teradyne’s quarterly revenue was up 87.0% compared to the same quarter last year. Analysts predict that Teradyne, Inc. will post 7.2 EPS for the current year.
Teradyne Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s payout ratio is presently 9.63%.
Insider Activity
In other Teradyne news, insider Shannon John Poulin sold 1,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $345.37, for a total transaction of $348,132.96. Following the sale, the insider owned 15,066 shares in the company, valued at approximately $5,203,344.42. This trade represents a 6.27% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,941 shares of company stock valued at $5,444,112 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Teradyne Profile
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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