Harvest Fund Management Co. Ltd Boosts Holdings in Teradyne, Inc. $TER

Key Points

• Harvest Fund Management dramatically increased its Teradyne stake in the fourth quarter, raising holdings by 35,515.6% to 22,794 shares valued at about $4.4 million.
• Several analysts turned more bullish on Teradyne, with upgrades from Zacks Research, JPMorgan, and others. The stock now carries a Moderate Buy consensus and an average price target of $339.80.
• Teradyne reported strong quarterly results, beating EPS and revenue estimates, while also raising its dividend to $0.13 per share. However, recent insider sales by the CEO and a VP suggest some profit-taking among executives.

Harvest Fund Management Co. Ltd raised its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 35,515.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,794 shares of the company's stock after purchasing an additional 22,730 shares during the period. Harvest Fund Management Co. Ltd's holdings in Teradyne were worth $4,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TER. Davidson Capital Management Inc. acquired a new position in Teradyne during the third quarter worth approximately $31,000. CYBER HORNET ETFs LLC acquired a new position in Teradyne during the second quarter worth approximately $35,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Teradyne during the fourth quarter worth approximately $37,000. KERR FINANCIAL PLANNING Corp acquired a new position in Teradyne during the third quarter worth approximately $41,000. Finally, True Wealth Design LLC increased its position in Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock worth $41,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TER shares. Zacks Research raised shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. 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 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. Robert W. Baird set a $350.00 target price on Teradyne in a report on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their target price on Teradyne from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $339.80.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $338.98, for a total value of $2,914,211.06. Following the completion of the transaction, the chief executive officer owned 124,470 shares in the company, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The transaction was disclosed in a legal filing 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, VP Ryan Driscoll sold 680 shares of the company'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 completion of the transaction, the vice president owned 7,665 shares of the company's stock, valued at approximately $2,894,304. This represents a 8.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,941 shares of company stock worth $3,751,992 in the last 90 days. 0.19% of the stock is owned by company insiders.

Teradyne Stock Performance

Shares of NASDAQ:TER opened at $406.86 on Friday. Teradyne, Inc. has a 1 year low of $81.07 and a 1 year high of $422.11. The stock has a market capitalization of $63.69 billion, a P/E ratio of 75.34, a PEG ratio of 1.69 and a beta of 1.79. The stock has a 50-day simple moving average of $355.58 and a 200-day simple moving average of $283.30.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business earned $0.75 EPS. The company's revenue for the quarter was up 87.0% on a year-over-year basis. Analysts predict that Teradyne, Inc. will post 7.09 earnings per share for the current year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $0.13 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. This is a boost from Teradyne's previous quarterly dividend of $0.12. Teradyne's dividend payout ratio (DPR) is currently 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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