71 West Capital Partners Makes New Investment in Teradyne, Inc. $TER

Key Points

• 71 West Capital Partners disclosed a new fourth-quarter stake in Teradyne, buying 4,804 shares worth about $930,000. The filing also showed multiple other institutional investors recently added or increased positions in the stock.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates by $0.45 and revenue of $1.28 billion topping expectations. Revenue jumped 87% year over year, and analysts now expect $7.09 EPS for the current fiscal year.
• The stock has been a strong performer, recently trading up 7.2% and reaching a 1-year high of $437.77. Analysts remain generally positive, with several upgrades and a consensus rating of Moderate Buy.

71 West Capital Partners bought a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,804 shares of the company's stock, valued at approximately $930,000.

Several other large investors also recently modified their holdings of TER. Caitong International Asset Management Co. Ltd purchased a new position in Teradyne in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Teradyne during the fourth quarter valued at about $37,000. True Wealth Design LLC boosted its position in Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock worth $41,000 after purchasing an additional 70 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Teradyne during the fourth quarter worth about $41,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of Teradyne in the third quarter worth about $31,000. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Trading Up 7.2%

Shares of NASDAQ TER opened at $432.41 on Tuesday. The stock's 50-day moving average is $366.69 and its 200 day moving average is $294.00. The stock has a market cap of $67.69 billion, a price-to-earnings ratio of 80.08, a P/E/G ratio of 1.66 and a beta of 1.79. Teradyne, Inc. has a 1-year low of $84.12 and a 1-year high of $437.77.

Teradyne (NASDAQ:TER - Get Free Report) last issued its 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. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.Teradyne's revenue for the quarter was up 87.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, analysts forecast that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

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

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the business's 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the sale, the vice president owned 7,665 shares of the company's stock, valued at $2,894,304. This represents a 8.15% 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. Insiders have sold a total of 10,941 shares of company stock worth $3,751,992 in the last 90 days. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TER has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price on the stock in a report on Thursday, April 30th. Zacks Research upgraded Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. UBS Group raised their price target on Teradyne from $325.00 to $440.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Finally, Evercore set a $370.00 price target on Teradyne in a research report on Thursday, April 30th. One equities research 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. According to MarketBeat.com, Teradyne currently has a consensus rating of "Moderate Buy" and a consensus 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.

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