Novem Group Acquires Shares of 7,582 Teradyne, Inc. (NASDAQ:TER)

Novem Group purchased a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,582 shares of the company's stock, valued at approximately $955,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TER. Norges Bank bought a new position in Teradyne during the fourth quarter worth $270,989,000. Van ECK Associates Corp grew its holdings in Teradyne by 59.9% during the 4th quarter. Van ECK Associates Corp now owns 4,928,143 shares of the company's stock worth $620,552,000 after acquiring an additional 1,846,079 shares during the period. Raymond James Financial Inc. bought a new position in shares of Teradyne in the 4th quarter worth about $160,087,000. Ameriprise Financial Inc. lifted its stake in shares of Teradyne by 28.3% in the 4th quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock valued at $608,025,000 after purchasing an additional 1,065,474 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Teradyne by 142.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,537 shares of the company's stock valued at $191,718,000 after purchasing an additional 894,849 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

TER traded up $5.29 during midday trading on Tuesday, hitting $82.27. The stock had a trading volume of 1,205,664 shares, compared to its average volume of 2,584,224. Teradyne, Inc. has a 1 year low of $65.77 and a 1 year high of $163.21. The business has a fifty day moving average of $77.93 and a 200 day moving average of $103.09. The company has a market cap of $13.20 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.83 and a beta of 1.70.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. Teradyne had a net margin of 19.23% and a return on equity of 19.08%. The company had revenue of $685.70 million for the quarter, compared to analysts' expectations of $680.54 million. During the same quarter last year, the company earned $0.51 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne declared that its board has initiated a stock buyback plan on Monday, April 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Teradyne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, May 22nd. Teradyne's dividend payout ratio is 13.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Susquehanna decreased their target price on Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. Cantor Fitzgerald decreased their target price on Teradyne from $150.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus lowered their price objective on Teradyne from $125.00 to $110.00 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. Citigroup cut their price objective on shares of Teradyne from $130.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, TD Cowen dropped their target price on Teradyne from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $117.56.

About Teradyne

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.