Black Swift Group LLC Makes New $8.28 Million Investment in Teradyne, Inc. $TER

Key Points

• Black Swift Group LLC opened a new position in Teradyne during the fourth quarter, buying 42,750 shares worth about $8.28 million. The stake represents roughly 1.4% of the fund’s portfolio.
• Institutional ownership of Teradyne remains extremely high, with major investors like Vanguard, State Street, Ameriprise, and Invesco all increasing their holdings recently. The stock is now about 99.77% owned by hedge funds and other institutions.
• Teradyne reported strong quarterly results, beating EPS and revenue estimates, and also raised its quarterly dividend to $0.13 per share. Analysts currently rate the stock a consensus “Moderate Buy” with a target price of $339.80.

Black Swift Group LLC bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 42,750 shares of the company's stock, valued at approximately $8,275,000. Teradyne makes up about 1.4% of Black Swift Group LLC's investment portfolio, making the stock its 23rd largest position.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Teradyne by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company's stock worth $2,947,935,000 after purchasing an additional 444,940 shares in the last quarter. State Street Corp boosted its position in shares of Teradyne by 0.3% during the 3rd quarter. State Street Corp now owns 7,017,649 shares of the company's stock worth $965,909,000 after purchasing an additional 24,154 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Teradyne by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company's stock worth $723,600,000 after buying an additional 336,757 shares in the last quarter. Invesco Ltd. boosted its position in shares of Teradyne by 3.5% in the 3rd quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock worth $407,322,000 after buying an additional 99,864 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its position in shares of Teradyne by 48.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock worth $395,427,000 after buying an additional 940,000 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley set a $387.00 price objective on shares of Teradyne in a research report on Thursday, April 30th. Royal Bank Of Canada set a $270.00 price objective on shares of Teradyne in a research report on Monday, February 2nd. Northland Securities reiterated a "market perform" rating and issued a $270.00 price objective on shares of Teradyne in a research report on Wednesday, February 4th. Evercore set a $370.00 price objective on shares of Teradyne in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of Teradyne from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $339.80.

Insider Buying and Selling at Teradyne

In other news, 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 transaction of $256,768.00. Following the transaction, 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 legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $345.37, for a total transaction of $348,132.96. Following the transaction, the insider owned 15,066 shares in the company, valued at approximately $5,203,344.42. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 10,941 shares of company stock worth $3,751,992. Corporate insiders own 0.19% of the company's stock.

Teradyne Stock Performance

NASDAQ:TER opened at $374.31 on Monday. The firm has a market cap of $58.59 billion, a price-to-earnings ratio of 69.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.79. The company's 50-day moving average is $348.35 and its two-hundred day moving average is $277.09. Teradyne, Inc. has a 12-month low of $77.02 and a 12-month high of $422.11.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.45. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm's quarterly revenue was up 87.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, equities research analysts forecast that Teradyne, Inc. will post 7.09 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $0.13 dividend. This is a positive change from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, May 21st. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. Teradyne's payout ratio is currently 9.63%.

Teradyne Company Profile

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.