Crestline Management LP Makes New $19.20 Million Investment in Teradyne, Inc. (NASDAQ:TER)

Crestline Management LP purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 152,441 shares of the company's stock, valued at approximately $19,195,000. Teradyne accounts for approximately 0.6% of Crestline Management LP's investment portfolio, making the stock its 20th largest position. Crestline Management LP owned 0.09% of Teradyne as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Teradyne in the 3rd quarter worth $81,000. Franklin Resources Inc. grew its stake in Teradyne by 30.5% during the 3rd quarter. Franklin Resources Inc. now owns 88,879 shares of the company's stock valued at $11,878,000 after purchasing an additional 20,762 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Teradyne by 4.1% during the 3rd quarter. Retirement Systems of Alabama now owns 35,836 shares of the company's stock worth $4,800,000 after purchasing an additional 1,399 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Teradyne by 3.1% during the 4th quarter. GAMMA Investing LLC now owns 3,445 shares of the company's stock valued at $434,000 after buying an additional 105 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Teradyne in the fourth quarter worth $317,000. 99.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TER has been the subject of several research analyst reports. Susquehanna dropped their target price on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. KeyCorp reaffirmed a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Vertical Research initiated coverage on Teradyne in a research report on Friday, March 7th. They set a "buy" rating and a $135.00 price target on the stock. Morgan Stanley reduced their price objective on Teradyne from $81.00 to $69.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Northland Securities lowered their target price on shares of Teradyne from $154.00 to $140.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teradyne has a consensus rating of "Moderate Buy" and an average price target of $117.56.

Teradyne Trading Up 0.8 %

TER stock traded up $0.58 during midday trading on Friday, reaching $77.42. The company had a trading volume of 2,353,949 shares, compared to its average volume of 2,585,045. The company has a 50 day moving average of $80.93 and a two-hundred day moving average of $105.27. The company has a market capitalization of $12.42 billion, a P/E ratio of 23.25, a PEG ratio of 2.83 and a beta of 1.70. Teradyne, Inc. has a 1 year low of $65.77 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $680.54 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current year.

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, May 22nd. Teradyne's payout ratio is 13.56%.

Teradyne announced that its board has initiated a share buyback plan on Monday, April 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.