Mackenzie Financial Corp Boosts Stock Position in Teradyne, Inc. (NASDAQ:TER)

Mackenzie Financial Corp grew its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 82.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,691 shares of the company's stock after buying an additional 12,946 shares during the quarter. Mackenzie Financial Corp's holdings in Teradyne were worth $3,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Teradyne by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 20,405,899 shares of the company's stock worth $2,569,511,000 after purchasing an additional 92,428 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Teradyne by 59.9% during the fourth quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock worth $620,552,000 after purchasing an additional 1,846,079 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Teradyne by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after purchasing an additional 1,065,474 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Teradyne by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,105,505 shares of the company's stock worth $515,665,000 after purchasing an additional 94,374 shares in the last quarter. Finally, Aspex Management HK Ltd increased its position in shares of Teradyne by 35.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock worth $407,331,000 after purchasing an additional 847,409 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Performance

Shares of NASDAQ TER traded down $3.19 during mid-day trading on Friday, reaching $77.79. 3,849,052 shares of the company's stock were exchanged, compared to its average volume of 2,599,090. The company's 50-day moving average is $77.21 and its 200-day moving average is $102.38. Teradyne, Inc. has a 52-week low of $65.77 and a 52-week high of $163.21. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.83 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.14. Teradyne had a return on equity of 19.08% and a net margin of 19.23%. The firm had revenue of $685.70 million for the quarter, compared to analyst estimates of $680.54 million. During the same quarter in the prior year, the company earned $0.51 EPS. Teradyne's revenue was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its board has initiated a share repurchase plan on Monday, April 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Teradyne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, May 22nd. Teradyne's payout ratio is 13.56%.

Analysts Set New Price Targets

Several brokerages recently commented on TER. Citigroup dropped their price target on Teradyne from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Bank of America dropped their target price on Teradyne from $100.00 to $85.00 and set an "underperform" rating for the company in a report on Wednesday, March 12th. Stifel Nicolaus dropped their target price on Teradyne from $125.00 to $110.00 and set a "hold" rating for the company in a report on Wednesday, March 12th. Cantor Fitzgerald dropped their target price on Teradyne from $150.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Finally, Morgan Stanley dropped their target price on Teradyne from $81.00 to $69.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.67.

Teradyne Company Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.