Nikko Asset Management Americas Inc. Acquires 148,131 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Nikko Asset Management Americas Inc. increased its holdings in Teradyne by 9.1%, acquiring an additional 148,131 shares, bringing its total to 1,783,818 shares.
• Several large investors, including Norges Bank and Ameriprise Financial Inc., also increased their stakes in Teradyne, reflecting growing institutional interest in the company.
• Analysts have mixed ratings on Teradyne, with price targets ranging from $80.00 to $120.00, and a consensus rating of "Hold" based on current market trends.

Nikko Asset Management Americas Inc. lifted its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,783,818 shares of the company's stock after purchasing an additional 148,131 shares during the quarter. Teradyne accounts for 1.9% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 15th largest position. Nikko Asset Management Americas Inc. owned 1.11% of Teradyne worth $147,397,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TER. Covestor Ltd increased its position in Teradyne by 12.3% during the 4th quarter. Covestor Ltd now owns 901 shares of the company's stock worth $113,000 after purchasing an additional 99 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of Teradyne by 2.8% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,748 shares of the company's stock valued at $472,000 after acquiring an additional 103 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Teradyne by 4.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,127 shares of the company's stock valued at $429,000 after acquiring an additional 119 shares in the last quarter. Advisory Services Network LLC grew its position in Teradyne by 6.3% during the 4th quarter. Advisory Services Network LLC now owns 2,384 shares of the company's stock worth $300,000 after acquiring an additional 141 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Teradyne by 22.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 820 shares of the company's stock worth $68,000 after acquiring an additional 149 shares during the last quarter. 99.77% of the stock is owned by institutional investors.

Teradyne Stock Performance

Shares of NASDAQ:TER traded up $18.33 during midday trading on Wednesday, reaching $108.88. The company's stock had a trading volume of 13,363,738 shares, compared to its average volume of 3,381,857. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 4.03 and a beta of 1.70. The firm has a 50 day moving average price of $88.01 and a two-hundred day moving average price of $93.37. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $144.16.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $651.80 million for the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a return on equity of 20.06% and a net margin of 19.86%. The firm's revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, research analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio (DPR) is currently 13.56%.

Teradyne announced that its Board of Directors has approved a share repurchase program on Monday, April 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $102.00 price objective (up previously from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. KeyCorp restated a "sector weight" rating on shares of Teradyne in a research report on Thursday, April 17th. Susquehanna reduced their price objective on Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group assumed coverage on Teradyne in a research report on Thursday, July 10th. They set a "sell" rating and a $80.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $112.50.

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.