Nomura Asset Management Co. Ltd. Has $13.99 Million Stake in Teradyne, Inc. $TER

Key Points

• Nomura Asset Management increased its Teradyne stake by 16.5% in the fourth quarter, buying 10,224 additional shares and bringing its total holding to 72,299 shares worth about $13.99 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 versus the $2.11 estimate and revenue of $1.28 billion, up 87% year over year.
• Analysts remain constructive on the stock, with several raising price targets; the consensus rating is “Moderate Buy” and the average target price is $339.80.

Nomura Asset Management Co. Ltd. boosted its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,299 shares of the company's stock after buying an additional 10,224 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Teradyne were worth $13,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Teradyne in the fourth quarter valued at $37,000. True Wealth Design LLC raised its holdings in shares of Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock valued at $41,000 after purchasing an additional 70 shares during the period. Davidson Capital Management Inc. acquired a new position in shares of Teradyne during the third quarter valued at about $31,000. Activest Wealth Management raised its holdings in shares of Teradyne by 73.6% during the fourth quarter. Activest Wealth Management now owns 243 shares of the company's stock valued at $47,000 after purchasing an additional 103 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Teradyne by 42.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $54,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Insiders Place Their Bets

In other Teradyne news, insider Shannon John Poulin sold 656 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the sale, the insider directly owned 15,722 shares of the company's stock, valued at approximately $5,581,310. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 the company's stock in a transaction dated Friday, May 15th. The stock was 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 $42,192,840.60. The trade was a 6.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 10,941 shares of company stock valued at $3,751,992. Corporate insiders own 0.19% of the company's stock.

Teradyne Price Performance

NASDAQ:TER opened at $392.62 on Wednesday. The firm has a 50-day moving average of $349.70 and a 200-day moving average of $278.44. The company has a market cap of $61.46 billion, a PE ratio of 72.71, a PEG ratio of 1.52 and a beta of 1.79. Teradyne, Inc. has a one year low of $78.41 and a one year high of $422.11.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.11 by $0.45. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $0.75 EPS. The firm's quarterly revenue was up 87.0% compared to the same quarter last year. On average, equities research analysts expect 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. Shareholders of record on Thursday, May 21st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. 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. Teradyne's payout ratio is currently 9.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Northland Securities reiterated a "market perform" rating and set a $270.00 price objective on shares of Teradyne in a report on Wednesday, February 4th. The Goldman Sachs Group boosted their target price on shares of Teradyne from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Citigroup boosted their target price on shares of Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $339.80.

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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