Resona Asset Management Co. Ltd. Has $9.22 Million Holdings in Teradyne, Inc. $TER

Key Points

• Resona Asset Management trimmed its Teradyne stake by 6.2% in the fourth quarter, leaving it with 47,478 shares valued at about $9.22 million.
• Several analysts turned more bullish on Teradyne, including JPMorgan upgrading it to overweight; the stock now has a consensus rating of Moderate Buy with an average target of $339.80.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating expectations and revenue rising 87% year over year, while also raising its quarterly dividend to $0.13 per share.

Resona Asset Management Co. Ltd. lessened its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 47,478 shares of the company's stock after selling 3,153 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Teradyne were worth $9,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TER. Root Financial Partners LLC acquired a new stake in Teradyne during the 3rd quarter valued at approximately $31,000. Davidson Capital Management Inc. acquired a new stake in Teradyne during the 3rd quarter valued at approximately $31,000. CYBER HORNET ETFs LLC acquired a new stake in Teradyne during the 2nd quarter valued at approximately $35,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Teradyne during the 4th quarter valued at approximately $37,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Teradyne during the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Insider Buying and Selling at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 8,597 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. This trade represents a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the transaction, the vice president owned 7,665 shares in the company, valued at approximately $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TER shares. JPMorgan Chase & Co. upgraded Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price target on the stock in a report on Thursday, April 30th. Zacks Research upgraded Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Bank of America increased their price target on Teradyne from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Robert W. Baird set a $350.00 price target on Teradyne in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $339.80.

Teradyne Stock Up 2.6%

Shares of TER opened at $353.44 on Friday. Teradyne, Inc. has a 12-month low of $75.99 and a 12-month high of $422.11. The business's fifty day moving average is $339.03 and its 200 day moving average is $269.05. The stock has a market cap of $55.33 billion, a P/E ratio of 65.45, a P/E/G ratio of 1.42 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results 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 return on equity of 31.79% and a net margin of 22.55%.The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business earned $0.75 EPS. Teradyne's quarterly revenue was up 87.0% compared to the same quarter last year. On average, analysts expect that Teradyne, Inc. will post 7.09 EPS for the current year.

Teradyne Increases Dividend

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

Teradyne 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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