Connor Clark & Lunn Investment Management Ltd. Grows Position in Teradyne, Inc. $TER

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 35.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,004 shares of the company's stock after purchasing an additional 13,188 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Teradyne were worth $4,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT purchased a new position in shares of Teradyne during the first quarter valued at about $139,000. National Bank of Canada FI lifted its position in Teradyne by 45.2% during the first quarter. National Bank of Canada FI now owns 149,418 shares of the company's stock valued at $12,343,000 after purchasing an additional 46,526 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Teradyne by 16.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,226 shares of the company's stock valued at $24,303,000 after purchasing an additional 42,630 shares during the period. Headlands Technologies LLC lifted its position in Teradyne by 50.7% during the first quarter. Headlands Technologies LLC now owns 11,105 shares of the company's stock valued at $917,000 after purchasing an additional 3,738 shares during the period. Finally, Deutsche Bank AG lifted its position in Teradyne by 36.3% during the first quarter. Deutsche Bank AG now owns 659,317 shares of the company's stock valued at $54,460,000 after purchasing an additional 175,534 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Teradyne from a "sell" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus lifted their target price on shares of Teradyne from $85.00 to $100.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Cowen restated a "buy" rating on shares of Teradyne in a research note on Wednesday, July 30th. JPMorgan Chase & Co. restated a "neutral" rating and set a $102.00 target price (up previously from $88.00) on shares of Teradyne in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald set a $105.00 target price on shares of Teradyne and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.44.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 554 shares of Teradyne stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $106.00, for a total transaction of $58,724.00. Following the completion of the sale, the chief executive officer owned 96,993 shares in the company, valued at $10,281,258. This trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

Teradyne Price Performance

Shares of Teradyne stock traded up $1.14 during trading on Monday, hitting $110.56. The stock had a trading volume of 675,024 shares, compared to its average volume of 3,488,117. The firm's fifty day simple moving average is $95.21 and its 200-day simple moving average is $91.07. The stock has a market cap of $17.59 billion, a PE ratio of 38.27, a PEG ratio of 2.29 and a beta of 1.72. Teradyne, Inc. has a 12 month low of $65.77 and a 12 month high of $144.16.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The business's revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne declared that its Board of Directors has initiated a share repurchase program on Monday, April 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are 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.