Eurizon Capital SGR S.p.A. Purchases Shares of 10,364 Teradyne, Inc. $TER

Key Points

• Eurizon Capital SGR opened a new position in Teradyne, buying 10,364 shares worth about $2.0 million in the fourth quarter.
• Teradyne has seen continued interest from institutional investors, with several hedge funds significantly increasing their stakes; overall, 99.77% of the stock is owned by institutions.
• Analysts remain constructive on the stock after Teradyne beat quarterly earnings and revenue estimates, and the company also raised its quarterly dividend to $0.13 per share.

Eurizon Capital SGR S.p.A. purchased a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,364 shares of the company's stock, valued at approximately $2,011,000.

A number of other hedge funds have also recently bought and sold shares of TER. Wellington Management Group LLP grew its stake in Teradyne by 13,949.4% in the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company's stock valued at $280,357,000 after purchasing an additional 2,022,389 shares in the last quarter. Alkeon Capital Management LLC grew 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 purchasing an additional 940,000 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Teradyne by 3,233.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company's stock valued at $176,144,000 after purchasing an additional 882,723 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Teradyne by 65.4% in the second quarter. Rafferty Asset Management LLC now owns 2,166,039 shares of the company's stock valued at $194,770,000 after purchasing an additional 856,540 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Teradyne by 60.1% in the second quarter. Bank of America Corp DE now owns 2,082,945 shares of the company's stock valued at $187,298,000 after purchasing an additional 781,517 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TER. UBS Group raised their price target on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Susquehanna raised their price target on Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a research note on Thursday, April 9th. Morgan Stanley set a $387.00 target price on Teradyne in a research note on Thursday, April 30th. Wall Street Zen upgraded Teradyne from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Finally, JPMorgan Chase & Co. upgraded Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given 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 an average target price of $339.80.

Insider Activity at Teradyne

In related news, VP Ryan Driscoll sold 680 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 7,665 shares in the company, valued at $2,894,304. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 business's stock in a transaction 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 completion of the sale, the insider owned 15,722 shares of the company's stock, valued at $5,581,310. This trade represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 10,941 shares of company stock worth $3,751,992 in the last ninety days. 0.19% of the stock is owned by company insiders.

Teradyne Trading Up 6.3%

Shares of NASDAQ TER opened at $392.62 on Wednesday. Teradyne, Inc. has a 12 month low of $78.41 and a 12 month high of $422.11. The stock has a 50 day moving average of $349.70 and a 200-day moving average of $278.44. The company has a market capitalization of $61.46 billion, a P/E ratio of 72.71, a P/E/G ratio of 1.52 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm's revenue for the quarter was up 87.0% compared to the same quarter last year. Analysts predict that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $0.13 dividend. This is a boost from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, May 21st. This represents a $0.52 annualized dividend and a yield of 0.1%. Teradyne's dividend payout ratio is presently 9.63%.

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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