Talos Eurisko Asset Management LP Sells 39,300 Shares of Teradyne, Inc. $TER

Key Points

• Talos Eurisko Asset Management cut its Teradyne position by 29.4% in the fourth quarter, selling 39,300 shares and leaving it with 94,200 shares valued at about $18.2 million.
• Teradyne reported strong quarterly results, with earnings of $2.56 per share and revenue of $1.28 billion, both ahead of analyst expectations and sharply higher year over year.
• Despite recent insider selling, analysts remain bullish overall: the stock has a Moderate Buy consensus, with a target price of $339.80, while Teradyne also raised its quarterly dividend to $0.13 per share.

Talos Eurisko Asset Management LP lessened its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,200 shares of the company's stock after selling 39,300 shares during the period. Teradyne accounts for about 3.2% of Talos Eurisko Asset Management LP's portfolio, making the stock its 14th biggest position. Talos Eurisko Asset Management LP owned about 0.06% of Teradyne worth $18,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in Teradyne by 1.8% during the 4th quarter. UMB Bank n.a. now owns 2,293 shares of the company's stock worth $444,000 after acquiring an additional 40 shares during the period. Stephens Inc. AR increased its stake in Teradyne by 1.2% during the 4th quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock worth $645,000 after acquiring an additional 41 shares during the period. Sapient Capital LLC increased its stake in Teradyne by 1.5% during the 4th quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock worth $560,000 after acquiring an additional 43 shares during the period. Truvestments Capital LLC increased its stake in Teradyne by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 1,440 shares of the company's stock worth $279,000 after acquiring an additional 53 shares during the period. Finally, IFP Advisors Inc increased its stake in Teradyne by 2.1% during the 4th quarter. IFP Advisors Inc now owns 2,731 shares of the company's stock worth $529,000 after acquiring an additional 57 shares during the period. Institutional investors own 99.77% of the company's stock.

Teradyne Stock Performance

TER stock opened at $432.41 on Tuesday. The stock's 50 day simple moving average is $366.69 and its 200 day simple moving average is $294.00. Teradyne, Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $437.77. The company has a market cap of $67.69 billion, a P/E ratio of 80.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share 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 business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm's revenue for the quarter was up 87.0% on a year-over-year basis. Equities analysts predict that Teradyne, Inc. will post 7.09 earnings per share for the current year.

Teradyne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a dividend of $0.13 per share. This is an increase from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. Teradyne's dividend payout ratio (DPR) is currently 9.63%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Teradyne from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. The Goldman Sachs Group lifted their price target on Teradyne from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Cantor Fitzgerald lifted their price target on Teradyne from $330.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Stifel Nicolaus lifted their price target on Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird set a $350.00 price target on Teradyne 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $339.80.

Insider Buying and Selling

In related news, VP Ryan Driscoll sold 680 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the transaction, the vice president directly owned 7,665 shares of the company's stock, valued at approximately $2,894,304. This represents a 8.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $338.98, for a total value 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 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 three months, insiders have sold 10,941 shares of company stock valued at $3,751,992. 0.19% of the stock is owned by company insiders.

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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