Alberta Investment Management Corp Grows Position in Teradyne, Inc. (NASDAQ:TER)

Key Points

• Alberta Investment Management Corp significantly increased its holdings in Teradyne, Inc. by 439.6% in the first quarter, acquiring an additional 50,117 shares, raising its total ownership to worth over $5 million.
• Several institutional investors, including Federated Hermes Inc. and Ameriprise Financial Inc., have also notably expanded their stakes in Teradyne, showcasing strong investor confidence in the company.
• Teradyne recently reported a quarterly earnings per share of $0.57, surpassing estimates but reflecting a 10.7% decline in revenue compared to the same quarter last year.

Alberta Investment Management Corp raised its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 439.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,517 shares of the company's stock after purchasing an additional 50,117 shares during the quarter. Alberta Investment Management Corp's holdings in Teradyne were worth $5,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in shares of Teradyne by 188.8% during the first quarter. Federated Hermes Inc. now owns 2,105,852 shares of the company's stock valued at $173,943,000 after buying an additional 1,376,631 shares during the period. Ameriprise Financial Inc. increased its position in shares of Teradyne by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after purchasing an additional 1,065,474 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Teradyne by 142.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company's stock worth $191,718,000 after purchasing an additional 894,849 shares during the last quarter. Aspex Management HK Ltd increased its position in shares of Teradyne by 35.5% in the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock worth $407,331,000 after purchasing an additional 847,409 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Teradyne by 54.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,428,012 shares of the company's stock worth $117,954,000 after purchasing an additional 504,944 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 554 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the completion of the sale, the chief executive officer owned 97,547 shares of the company's stock, valued at $10,313,644.31. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on TER shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $102.00 price objective (up from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. Morgan Stanley upgraded shares of Teradyne from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $74.00 to $100.00 in a research report on Thursday. UBS Group restated a "buy" rating and issued a $130.00 price objective (up from $120.00) on shares of Teradyne in a research report on Thursday. Wall Street Zen cut shares of Teradyne from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Cowen reiterated a "buy" rating on shares of Teradyne in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $114.44.

Teradyne Stock Performance

NASDAQ:TER opened at $104.16 on Friday. The firm has a market cap of $16.71 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 2.25 and a beta of 1.72. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $144.16. The business has a 50 day moving average price of $89.70 and a 200-day moving average price of $93.09.

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

Teradyne announced that its Board of Directors has approved a share repurchase program 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 programs are usually a sign that the company's leadership believes its stock is undervalued.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Teradyne's dividend payout ratio (DPR) is presently 16.61%.

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.

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