Aigen Investment Management LP Takes $736,000 Position in Teradyne, Inc. (NASDAQ:TER)

Key Points

• Aigen Investment Management LP has acquired a new stake in Teradyne, purchasing 8,916 shares valued at approximately $736,000 during the first quarter.
• Teradyne's stock is currently trading at $104.68, with a recent market capitalization of $16.65 billion and a PE ratio of 36.22, indicating strong market performance despite a 10.7% year-over-year revenue decline.
• The company's board has approved a $1.00 billion stock buyback plan, which suggests management believes the shares are undervalued.

Aigen Investment Management LP acquired a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,916 shares of the company's stock, valued at approximately $736,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Berbice Capital Management LLC boosted its holdings in shares of Teradyne by 200.0% during the first quarter. Berbice Capital Management LLC now owns 300 shares of the company's stock valued at $25,000 after acquiring an additional 200 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Teradyne in the fourth quarter worth about $34,000. Manchester Capital Management LLC lifted its holdings in Teradyne by 44.7% in the first quarter. Manchester Capital Management LLC now owns 453 shares of the company's stock worth $37,000 after purchasing an additional 140 shares during the period. Sentry Investment Management LLC acquired a new stake in Teradyne in the first quarter worth about $45,000. Finally, AdvisorNet Financial Inc lifted its holdings in Teradyne by 319.0% in the first quarter. AdvisorNet Financial Inc now owns 595 shares of the company's stock worth $49,000 after purchasing an additional 453 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reaffirmed a "buy" rating and issued a $130.00 price objective (up previously from $120.00) on shares of Teradyne in a report on Thursday, July 31st. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $85.00 price objective on shares of Teradyne in a report on Wednesday, July 30th. Susquehanna reduced their price objective on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus boosted their price target on shares of Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley upgraded shares of Teradyne from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $74.00 to $100.00 in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teradyne currently has a consensus rating of "Hold" and a consensus target price of $114.44.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen Smith sold 554 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the transaction, the chief executive officer owned 97,547 shares in the company, valued at $10,313,644.31. This represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Teradyne Price Performance

NASDAQ TER traded up $2.38 on Wednesday, hitting $114.01. 5,223,735 shares of the company were exchanged, compared to its average volume of 4,809,267. The company's 50 day moving average price is $94.12 and its 200-day moving average price is $91.59. The firm has a market capitalization of $18.14 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 2.34 and a beta of 1.72. Teradyne, Inc. has a twelve month low of $65.77 and a twelve month high of $144.16.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $651.80 million for the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The business's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, equities analysts expect that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne declared that its Board of Directors has authorized a share repurchase plan on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are often 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.