Concentric Capital Strategies LP Invests $6.20 Million in Teradyne, Inc. (NASDAQ:TER)

Concentric Capital Strategies LP purchased a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 49,249 shares of the company's stock, valued at approximately $6,201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Teradyne during the 4th quarter valued at about $270,989,000. Van ECK Associates Corp boosted its position in shares of Teradyne by 59.9% during the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock valued at $620,552,000 after acquiring an additional 1,846,079 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Teradyne during the 4th quarter valued at about $160,087,000. Ameriprise Financial Inc. boosted its position in shares of Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock valued at $608,025,000 after acquiring an additional 1,065,474 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Teradyne by 142.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company's stock valued at $191,718,000 after acquiring an additional 894,849 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Price Performance

Shares of TER traded up $6.09 during mid-day trading on Monday, reaching $83.51. 1,539,551 shares of the company's stock were exchanged, compared to its average volume of 3,331,731. The business's fifty day simple moving average is $80.93 and its 200-day simple moving average is $105.24. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21. The stock has a market capitalization of $13.40 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.83 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.75 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $680.54 million. During the same period last year, the company earned $0.51 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne announced that its board has approved a share repurchase plan on Monday, April 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Teradyne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is currently 13.56%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America decreased their target price on shares of Teradyne from $100.00 to $85.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. TD Cowen cut their target price on shares of Teradyne from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on shares of Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Susquehanna cut their target price on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup cut their target price on shares of Teradyne from $130.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $117.56.

About Teradyne

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.