DNB Asset Management AS Decreases Position in Teradyne, Inc. $TER

Key Points

• DNB Asset Management AS cut its Teradyne stake by 19.4% in the fourth quarter, selling 7,789 shares and ending with 32,301 shares worth about $6.25 million.
• Teradyne posted better-than-expected quarterly results, with EPS of $2.56 versus $2.11 expected and revenue of $1.28 billion versus $1.20 billion expected; revenue also jumped 87% year over year.
• The company raised its quarterly dividend to $0.13 per share from $0.12, while analysts remain broadly positive with a consensus rating of Moderate Buy and a target price of $339.80.

DNB Asset Management AS decreased its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,301 shares of the company's stock after selling 7,789 shares during the quarter. DNB Asset Management AS's holdings in Teradyne were worth $6,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Teradyne by 2.1% in the third quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company's stock valued at $2,947,935,000 after buying an additional 444,940 shares during the last quarter. State Street Corp lifted its stake in Teradyne by 0.3% in the third quarter. State Street Corp now owns 7,017,649 shares of the company's stock valued at $965,909,000 after buying an additional 24,154 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Teradyne by 6.8% in the third quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company's stock valued at $723,600,000 after buying an additional 336,757 shares during the last quarter. Invesco Ltd. lifted its stake in Teradyne by 3.5% in the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock valued at $407,322,000 after buying an additional 99,864 shares during the last quarter. Finally, Alkeon Capital Management LLC lifted its stake in Teradyne by 48.6% in the third quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock valued at $395,427,000 after buying an additional 940,000 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Insider Activity

In other news, VP Ryan Driscoll sold 680 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the transaction, the vice president owned 7,665 shares of the company's stock, valued at approximately $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of research reports. TD Cowen reiterated a "buy" rating on shares of Teradyne in a research note on Thursday, January 22nd. Royal Bank Of Canada set a $270.00 price objective on Teradyne in a research note on Monday, February 2nd. Morgan Stanley set a $387.00 price objective on Teradyne in a research note on Thursday, April 30th. Susquehanna boosted their price objective on Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a research note on Thursday, April 9th. Finally, Evercore set a $370.00 price objective on Teradyne in a research note on Thursday, April 30th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $339.80.

Teradyne Trading Down 5.0%

NASDAQ:TER opened at $321.05 on Tuesday. The firm has a market cap of $50.26 billion, a P/E ratio of 59.45, a PEG ratio of 1.39 and a beta of 1.79. The stock's 50 day simple moving average is $336.05 and its 200-day simple moving average is $265.62. Teradyne, Inc. has a 12-month low of $75.99 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company's revenue for the quarter was up 87.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Research analysts forecast that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This is an increase from Teradyne's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.2%. Teradyne's dividend payout ratio is presently 9.63%.

About Teradyne

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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