Jag Capital Management LLC Buys New Position in Teradyne, Inc. $TER

Key Points

• Jag Capital Management initiated a new position in Teradyne, buying 3,195 shares valued at about $618,000 in the fourth quarter.
• Teradyne posted strong quarterly results, with EPS of $2.56 beating estimates and revenue of $1.28 billion, up 87% from a year earlier.
• Analysts remain upbeat on the stock, with multiple firms raising price targets and the consensus rating standing at Moderate Buy; Teradyne also raised its quarterly dividend to $0.13 per share.

Jag Capital Management LLC bought a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 3,195 shares of the company's stock, valued at approximately $618,000.

Several other hedge funds have also modified their holdings of TER. Integrated Wealth Concepts LLC raised its holdings in shares of Teradyne by 12.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock valued at $342,000 after buying an additional 468 shares during the period. Caxton Associates LLP purchased a new stake in shares of Teradyne during the 1st quarter valued at about $297,000. Cresset Asset Management LLC raised its holdings in shares of Teradyne by 11.6% during the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock valued at $608,000 after buying an additional 702 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Teradyne by 467.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock valued at $306,000 after buying an additional 2,807 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Teradyne by 5.1% in the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock valued at $6,755,000 after purchasing an additional 3,651 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction on Friday, May 15th. The stock was sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. This trade represents a 6.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of Teradyne stock in a transaction on Thursday, May 7th. The shares were 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 in the company, valued at approximately $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. 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. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TER has been the subject of a number of analyst reports. Bank of America increased their price target on Teradyne from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Wall Street Zen raised Teradyne from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Cantor Fitzgerald increased their price target on Teradyne from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. UBS Group increased their price target on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Citigroup increased their price target on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $339.80.

Teradyne Stock Performance

Shares of TER opened at $321.52 on Wednesday. The company has a market capitalization of $50.33 billion, a P/E ratio of 59.54, a P/E/G ratio of 1.32 and a beta of 1.79. Teradyne, Inc. has a one year low of $75.99 and a one year high of $422.11. The stock has a 50-day moving average price of $337.02 and a 200 day moving average price of $266.66.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.56 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $0.75 EPS. Teradyne's quarterly revenue was up 87.0% compared to the same quarter last year. As a group, equities research analysts forecast that Teradyne, Inc. will post 7.09 earnings per share 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 dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, May 21st. This is a positive change from Teradyne's previous quarterly dividend of $0.12. Teradyne's payout ratio is currently 9.63%.

Teradyne Company 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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