Balyasny Asset Management L.P. Acquires 894,849 Shares of Teradyne, Inc. (NASDAQ:TER)

Balyasny Asset Management L.P. raised its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 142.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,522,537 shares of the company's stock after buying an additional 894,849 shares during the quarter. Balyasny Asset Management L.P. owned 0.93% of Teradyne worth $191,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TER. Van ECK Associates Corp lifted its holdings in Teradyne by 59.9% in the 4th 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 during the last quarter. Proficio Capital Partners LLC bought a new position in Teradyne in the fourth quarter valued at approximately $12,118,000. Franklin Resources Inc. increased its stake in shares of Teradyne by 30.5% in the 3rd quarter. Franklin Resources Inc. now owns 88,879 shares of the company's stock valued at $11,878,000 after acquiring an additional 20,762 shares during the last quarter. Empowered Funds LLC raised its stake in Teradyne by 16.2% during the 4th quarter. Empowered Funds LLC now owns 30,269 shares of the company's stock worth $3,811,000 after buying an additional 4,212 shares during the period. Finally, Boston Trust Walden Corp increased its holdings in shares of Teradyne by 3.3% in the fourth quarter. Boston Trust Walden Corp now owns 408,177 shares of the company's stock worth $51,398,000 after acquiring an additional 13,020 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Up 0.7 %

NASDAQ TER traded up $0.50 on Friday, reaching $77.34. The company had a trading volume of 1,224,173 shares, compared to its average volume of 2,573,664. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21. The company's fifty day moving average is $81.53 and its 200 day moving average is $105.74. The stock has a market capitalization of $12.44 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.83 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.75 earnings per share (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 for the quarter, compared to analyst estimates of $680.54 million. During the same period in the previous year, the company posted $0.51 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. Teradyne's payout ratio is 13.56%.

Teradyne declared that its Board of Directors has approved a share buyback program on Monday, April 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Northland Securities cut their price target on Teradyne from $154.00 to $140.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Susquehanna decreased their price objective on Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. UBS Group set a $130.00 target price on shares of Teradyne and gave the company a "buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus reduced their price target on Teradyne from $125.00 to $110.00 and set a "hold" rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price target on Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Teradyne has an average rating of "Moderate Buy" and a consensus price target of $117.56.

Teradyne Profile

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.