Fourier Capital Management Ltd Acquires New Stake in Teradyne, Inc. $TER

Key Points

• Fourier Capital Management opened a new position in Teradyne in the fourth quarter, buying 43,989 shares valued at about $8.5 million. The stake represents 9.0% of the fund’s portfolio and is its fourth-largest holding.
• Teradyne reported a strong quarter, with EPS of $2.56 versus estimates of $2.11 and revenue of $1.28 billion, up 87% from a year earlier. Analysts now expect the company to earn 7.09 EPS for the full fiscal year.
• Wall Street sentiment remains bullish, with multiple firms raising price targets and 12 analysts rating the stock a Buy. Teradyne also increased its quarterly dividend to $0.13 per share, and the stock was trading up 1.4% in the article.

Fourier Capital Management Ltd acquired a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 43,989 shares of the company's stock, valued at approximately $8,515,000. Teradyne accounts for 9.0% of Fourier Capital Management Ltd's portfolio, making the stock its 4th biggest holding.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Teradyne by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company's stock valued at $2,947,935,000 after acquiring an additional 444,940 shares during the period. State Street Corp boosted its holdings in Teradyne by 0.3% during the 3rd quarter. State Street Corp now owns 7,017,649 shares of the company's stock valued at $965,909,000 after acquiring an additional 24,154 shares during the period. Ameriprise Financial Inc. boosted its holdings in Teradyne by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company's stock valued at $723,600,000 after acquiring an additional 336,757 shares during the period. Invesco Ltd. boosted its holdings in Teradyne by 3.5% during the 3rd quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock valued at $407,322,000 after acquiring an additional 99,864 shares during the period. Finally, Alkeon Capital Management LLC boosted its holdings in Teradyne by 48.6% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock valued at $395,427,000 after acquiring an additional 940,000 shares during the period. Hedge funds and other institutional investors own 99.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TER. UBS Group boosted their price objective on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Robert W. Baird set a $350.00 target price on Teradyne in a report on Thursday, April 30th. Wall Street Zen upgraded Teradyne from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Citigroup upped their target price on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus upped their target price on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $339.80.

Teradyne Trading Up 1.4%

Shares of TER stock opened at $363.39 on Thursday. Teradyne, Inc. has a twelve month low of $75.99 and a twelve month high of $422.11. The stock has a market capitalization of $56.89 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 1.47 and a beta of 1.79. The stock has a fifty day simple moving average of $334.04 and a two-hundred day simple moving average of $261.55.

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, 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 business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the business earned $0.75 EPS. The business's revenue for the quarter was up 87.0% compared to the same quarter last year. Research analysts predict that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

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

Insider Activity at Teradyne

In other 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 transaction, the vice president directly owned 7,665 shares of the company's stock, valued at approximately $2,894,304. The trade was a 8.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company's stock.

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.

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.