Navigation Group LLC Purchases Shares of 2,937 Teradyne, Inc. $TER

Key Points

• Navigation Group LLC opened a new position in Teradyne, buying 2,937 shares valued at about $871,000 in the first quarter.
• Teradyne reported strong quarterly results, posting $2.56 EPS versus the $2.11 estimate and revenue of $1.28 billion, up 87% from a year earlier.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and an average price target of $390.53; the company also raised its quarterly dividend to $0.13 per share.

Navigation Group LLC purchased a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,937 shares of the company's stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TER. Norges Bank bought a new stake in Teradyne during the 4th quarter valued at $398,777,000. Wellington Management Group LLP boosted 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. Aspex Management HK Ltd bought a new position in shares of Teradyne in the fourth quarter worth $199,723,000. Corient Private Wealth LLC grew its stake in shares of Teradyne by 2,189.2% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,916 shares of the company's stock worth $208,254,000 after purchasing an additional 1,028,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Teradyne by 3,233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company's stock valued at $176,144,000 after purchasing an additional 882,723 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Stock Performance

NASDAQ TER opened at $342.12 on Thursday. Teradyne, Inc. has a 1 year low of $88.60 and a 1 year high of $487.91. The business's fifty day moving average is $383.44 and its two-hundred day moving average is $326.33. The stock has a market capitalization of $53.56 billion, a P/E ratio of 63.36, a P/E/G ratio of 1.02 and a beta of 1.74.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company's revenue was up 87.0% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. On average, research analysts forecast that Teradyne, Inc. will post 7.2 earnings per share for the current year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were given a $0.13 dividend. This is a positive change from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.2%. Teradyne's dividend payout ratio is 9.63%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TER. Morgan Stanley set a $387.00 price objective on shares of Teradyne in a research note on Thursday, April 30th. Citigroup increased their target price on shares of Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Evercore set a $370.00 target price on shares of Teradyne in a research note on Thursday, April 30th. The Goldman Sachs Group boosted their price target on shares of Teradyne from $350.00 to $465.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price target for the company in a research note on Thursday, April 30th. One equities research 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $390.53.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction 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 approximately $42,192,840.60. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction 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. The trade was a 8.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 14,941 shares of company stock valued at $5,444,112. 0.19% of the stock is owned by corporate insiders.

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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