3,467 Shares in Teradyne, Inc. $TER Purchased by Griffin Asset Management Inc.

Key Points

• Griffin Asset Management initiated a new position in Teradyne, buying 3,467 shares valued at about $671,000 in the fourth quarter.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates by $0.45 and revenue of $1.28 billion topping expectations; revenue also surged 87% year over year.
• The company raised its quarterly dividend to $0.13 per share, while Wall Street analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $339.80.

Griffin Asset Management Inc. bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,467 shares of the company's stock, valued at approximately $671,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in shares of Teradyne during the fourth quarter worth about $253,000. Pinkerton Wealth LLC acquired a new stake in Teradyne during the 4th quarter worth about $3,822,000. ABN Amro Investment Solutions acquired a new stake in Teradyne during the 4th quarter worth about $1,255,000. IFP Advisors Inc grew its position in Teradyne by 2.1% during the 4th quarter. IFP Advisors Inc now owns 2,731 shares of the company's stock worth $529,000 after purchasing an additional 57 shares during the period. Finally, Midwest Professional Planners LTD. grew its position in Teradyne by 31.8% during the 4th quarter. Midwest Professional Planners LTD. now owns 10,311 shares of the company's stock worth $1,996,000 after purchasing an additional 2,486 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

NASDAQ TER opened at $353.44 on Friday. The business has a fifty day moving average price of $339.03 and a 200 day moving average price of $269.05. Teradyne, Inc. has a one year low of $75.99 and a one year high of $422.11. The company has a market cap of $55.33 billion, a P/E ratio of 65.45, a P/E/G ratio of 1.42 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 EPS 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm's revenue was up 87.0% compared to the same quarter last year. As a group, sell-side analysts predict that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 21st. 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. Teradyne's dividend payout ratio is currently 9.63%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TER. The Goldman Sachs Group increased their price target on Teradyne from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. UBS Group boosted their price target on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Morgan Stanley set a $387.00 price target on Teradyne in a report on Thursday, April 30th. Citigroup boosted their price target on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Evercore set a $370.00 price target on Teradyne in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $339.80.

Insider Buying and Selling at Teradyne

In other Teradyne news, VP Ryan Driscoll sold 680 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the sale, the vice president directly owned 7,665 shares in the company, valued at $2,894,304. This represents a 8.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $338.98, for a total value of $2,914,211.06. Following the completion of the sale, the chief executive officer owned 124,470 shares of the company's stock, valued at approximately $42,192,840.60. The trade was a 6.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding TER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teradyne, Inc. (NASDAQ:TER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.