Mizuho Markets Cayman LP Invests $7.84 Million in Teradyne, Inc. $TER

Key Points

• Mizuho Markets Cayman LP opened a new position in Teradyne during the fourth quarter, buying 40,508 shares worth about $7.84 million.
• Teradyne’s latest quarter beat expectations, with EPS of $2.56 versus $2.11 expected and revenue of $1.28 billion, up 87% year over year. The company also raised its quarterly dividend to $0.13 per share from $0.12.
• Analysts remain broadly positive on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with a median target of $339.80.

Mizuho Markets Cayman LP bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 40,508 shares of the company's stock, valued at approximately $7,841,000.

A number of other institutional investors and hedge funds have also modified their holdings of TER. Integrated Wealth Concepts LLC grew its holdings in shares of Teradyne by 12.8% during the first 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 in the last quarter. Caxton Associates LLP purchased a new position in shares of Teradyne during the first quarter valued at $297,000. Cresset Asset Management LLC grew its holdings in shares of Teradyne by 11.6% during the second 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 in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Teradyne by 467.1% during the second 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 in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Teradyne by 5.1% during 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 buying an additional 3,651 shares in the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Insiders Place Their Bets

In other Teradyne news, VP Ryan Driscoll sold 680 shares of the business's stock in a transaction dated 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 owned 7,665 shares of the company's stock, valued at $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 8,597 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 124,470 shares of the company's stock, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TER shares. Evercore set a $370.00 price target 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. UBS Group lifted 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. The Goldman Sachs Group lifted their price target on Teradyne from $300.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Cantor Fitzgerald lifted 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. One 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $339.80.

Teradyne Trading Up 1.4%

TER opened at $358.44 on Friday. The stock has a market cap of $56.11 billion, a price-to-earnings ratio of 66.38, a PEG ratio of 1.45 and a beta of 1.79. Teradyne, Inc. has a 1 year low of $75.99 and a 1 year high of $422.11. The stock has a fifty day moving average price of $340.16 and a 200 day moving average price of $269.68.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.45. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The business's revenue for the quarter was up 87.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that Teradyne, Inc. will post 7.09 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be given a dividend of $0.13 per share. 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. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. Teradyne's payout ratio is 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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