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

Eventide Asset Management LLC purchased a new stake in Teradyne, Inc. (NASDAQ:TER) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 38,632 shares of the company’s stock, valued at approximately $7,488,000.

Several other hedge funds also recently made changes to their positions in TER. Integrated Wealth Concepts LLC grew its position in shares of Teradyne by 12.8% in the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock valued at $342,000 after purchasing an additional 468 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Teradyne in the first quarter valued at $297,000. Cresset Asset Management LLC grew its position in Teradyne by 11.6% during the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock worth $608,000 after buying an additional 702 shares in the last quarter. NewEdge Advisors LLC grew its position in Teradyne by 467.1% during the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock worth $306,000 after buying an additional 2,807 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Teradyne by 5.1% during 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 buying an additional 3,651 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Teradyne news, VP Ryan Driscoll sold 680 shares of Teradyne stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the completion of the sale, the vice president owned 7,665 shares of the company’s stock, valued at $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction dated 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 sale, the chief executive officer directly owned 124,470 shares of the company’s stock, valued at approximately $42,192,840.60. This trade represents a 6.46% 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 a total of 10,941 shares of company stock valued at $3,751,992 over the last 90 days. Insiders own 0.19% of the company’s stock.

Teradyne Price Performance

Shares of TER stock opened at $403.20 on Monday. The business has a 50-day moving average price of $364.24 and a two-hundred day moving average price of $292.13. Teradyne, Inc. has a 12-month low of $83.00 and a 12-month high of $422.11. The firm has a market cap of $63.12 billion, a P/E ratio of 74.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79.

Teradyne (NASDAQ:TER) last issued its quarterly 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 previous year, the company posted $0.75 earnings per share. The company’s revenue was up 87.0% compared to the same quarter last year. As a group, research analysts expect that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on TER. Weiss Ratings upgraded Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Morgan Stanley set a $387.00 target price on Teradyne 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 target price for the company in a research report on Thursday, April 30th. Susquehanna boosted their target price on Teradyne from $335.00 to $415.00 and gave the stock a “positive” rating in a research report on Thursday, April 9th. Finally, Cantor Fitzgerald boosted their target price on Teradyne from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.80.

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.