Contravisory Investment Management Inc. Takes $1.37 Million Position in Teradyne, Inc. $TER

Key Points

• Contravisory Investment Management opened a new position in Teradyne during the first quarter, buying 4,617 shares valued at about $1.37 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates and revenue of $1.28 billion coming in above expectations, while revenue surged 87% year over year.
• The stock has climbed sharply, recently opening at $471.96 and trading near its 52-week high, while analysts remain generally positive with a Moderate Buy consensus and an average target of $363.87.

Contravisory Investment Management Inc. acquired a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,617 shares of the company's stock, valued at approximately $1,369,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Teradyne in the fourth quarter valued at approximately $28,000. Davidson Capital Management Inc. acquired a new stake in Teradyne during the third quarter valued at approximately $31,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Teradyne during the 2nd quarter valued at approximately $35,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Teradyne in the 4th quarter worth about $37,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Teradyne in the third quarter worth about $41,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Insider Activity at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the sale, the chief executive officer owned 120,470 shares of the company's stock, valued at $50,962,424.10. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the transaction, the insider owned 15,722 shares in the company, valued at approximately $5,581,310. This trade represents a 4.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days, insiders sold 14,941 shares of company stock valued at $5,444,112. Insiders own 0.19% of the company's stock.

Teradyne Trading Up 10.5%

Shares of Teradyne stock opened at $471.96 on Friday. Teradyne, Inc. has a 1 year low of $88.60 and a 1 year high of $472.37. The company has a market cap of $73.88 billion, a P/E ratio of 87.40, a P/E/G ratio of 1.23 and a beta of 1.79. The stock has a 50-day moving average price of $380.63 and a 200 day moving average price of $307.83.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share 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 the consensus estimate of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The firm's quarterly revenue was up 87.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities analysts forecast that Teradyne, Inc. will post 7.23 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.1%. This is an increase from Teradyne's previous quarterly dividend of $0.12. Teradyne's dividend payout ratio is presently 9.63%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TER shares. Zacks Research raised shares of Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Susquehanna boosted their target price on shares of Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a research note on Thursday, April 9th. Evercore set a $370.00 target price on shares of Teradyne in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price target on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley set a $387.00 price objective on Teradyne in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $363.87.

Teradyne 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.

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