Assenagon Asset Management S.A. Increases Stock Position in Teradyne, Inc. (NASDAQ:TER)

Assenagon Asset Management S.A. grew its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 54.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,428,012 shares of the company's stock after purchasing an additional 504,944 shares during the period. Assenagon Asset Management S.A. owned about 0.89% of Teradyne worth $117,954,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TER. Vanguard Group Inc. grew its stake in Teradyne by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 20,405,899 shares of the company's stock worth $2,569,511,000 after buying an additional 92,428 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Teradyne by 59.9% in the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock valued at $620,552,000 after purchasing an additional 1,846,079 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Teradyne by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after buying an additional 1,065,474 shares in the last quarter. Geode Capital Management LLC boosted its stake in Teradyne by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company's stock valued at $515,665,000 after buying an additional 94,374 shares in the last quarter. Finally, Aspex Management HK Ltd raised its stake in Teradyne by 35.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock worth $407,331,000 after acquiring an additional 847,409 shares in the last quarter. Institutional investors own 99.77% of the company's stock.

Analyst Ratings Changes

TER has been the topic of several research reports. UBS Group set a $130.00 price target on shares of Teradyne and gave the company a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on Teradyne from $120.00 to $92.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. KeyCorp reaffirmed a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Susquehanna reduced their price objective on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup lowered their target price on Teradyne from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.67.

Teradyne Trading Down 0.7%

Shares of TER traded down $0.65 on Thursday, reaching $86.14. 534,274 shares of the company's stock traded hands, compared to its average volume of 3,190,698. The stock's 50 day simple moving average is $77.67 and its two-hundred day simple moving average is $101.23. The stock has a market cap of $13.82 billion, a PE ratio of 25.87, a PEG ratio of 2.83 and a beta of 1.69. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. The company had revenue of $685.70 million for the quarter, compared to analysts' expectations of $680.54 million. During the same quarter in the previous year, the firm posted $0.51 EPS. Teradyne's revenue was up 14.3% on a year-over-year basis. Analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be paid a $0.12 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. Teradyne's dividend payout ratio is 13.56%.

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

Teradyne Company 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.