National Pension Service Makes New Investment in Teradyne, Inc. $TER

Key Points

• National Pension Service opened a new position in Teradyne, buying 244,400 shares worth about $47.3 million in the fourth quarter.
• Other institutional investors have also been active in TER, and institutions/hedge funds now own 99.77% of the company’s shares.
• Teradyne recently beat earnings expectations, reporting $2.56 EPS on $1.28 billion in revenue, while also raising its quarterly dividend to $0.13 per share.

National Pension Service purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 244,400 shares of the company's stock, valued at approximately $47,306,000. National Pension Service owned 0.16% of Teradyne as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TER. Wellington Management Group LLP lifted its position in Teradyne by 13,949.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company's stock worth $280,357,000 after acquiring an additional 2,022,389 shares during the period. Alkeon Capital Management LLC lifted its holdings in shares of Teradyne by 48.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company's stock valued at $395,427,000 after buying an additional 940,000 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Teradyne by 3,233.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company's stock valued at $176,144,000 after buying an additional 882,723 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Teradyne by 65.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 2,166,039 shares of the company's stock valued at $194,770,000 after buying an additional 856,540 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Teradyne by 60.1% in the 2nd quarter. Bank of America Corp DE now owns 2,082,945 shares of the company's stock valued at $187,298,000 after buying an additional 781,517 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Insider Activity at Teradyne

In related news, insider Shannon John Poulin sold 1,008 shares of Teradyne stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $345.37, for a total value of $348,132.96. Following the completion of the transaction, the insider owned 15,066 shares in the company, valued at $5,203,344.42. The trade was a 6.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction dated Friday, May 15th. The shares were 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 of the company's stock, valued at approximately $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. Insiders sold a total of 10,941 shares of company stock worth $3,751,992 in the last 90 days. Corporate insiders own 0.19% of the company's stock.

Teradyne Price Performance

Shares of Teradyne stock opened at $374.31 on Monday. Teradyne, Inc. has a twelve month low of $77.02 and a twelve month high of $422.11. The business has a 50-day moving average price of $348.35 and a 200 day moving average price of $277.09. The firm has a market cap of $58.59 billion, a PE ratio of 69.32, a P/E/G ratio of 1.54 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Teradyne's revenue for the quarter was up 87.0% compared to the same quarter last year. On average, sell-side analysts expect that Teradyne, Inc. will post 7.09 EPS for the current year.

Teradyne Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Northland Securities reissued a "market perform" rating and issued a $270.00 price objective on shares of Teradyne in a report on Wednesday, February 4th. Morgan Stanley set a $387.00 price objective on Teradyne in a report on Thursday, April 30th. 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. JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective for the company in a report on Thursday, April 30th. Finally, Evercore set a $370.00 price objective on Teradyne in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $339.80.

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.

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.