Teradyne, Inc. $TER Position Boosted by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates increased its Teradyne stake by 10% in the fourth quarter, adding 7,300 shares and bringing its total to 80,629 shares valued at about $15.6 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 versus the $2.11 consensus and revenue of $1.28 billion versus $1.20 billion expected. Revenue jumped 87% year over year.
• The company raised its quarterly dividend to $0.13 per share from $0.12, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $339.80.

Zweig DiMenna Associates LLC grew its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,629 shares of the company's stock after buying an additional 7,300 shares during the quarter. Teradyne makes up about 1.0% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 28th largest holding. Zweig DiMenna Associates LLC owned approximately 0.05% of Teradyne worth $15,607,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. ARK Investment Management LLC lifted its holdings in shares of Teradyne by 25.2% during the 3rd quarter. ARK Investment Management LLC now owns 2,722,327 shares of the company's stock valued at $374,701,000 after buying an additional 548,140 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Teradyne by 656.4% during the 4th quarter. Nordea Investment Management AB now owns 125,312 shares of the company's stock valued at $24,554,000 after buying an additional 108,745 shares during the last quarter. Aspen Wealth Strategies LLC acquired a new stake in shares of Teradyne during the 3rd quarter valued at about $577,000. Assenagon Asset Management S.A. lifted its holdings in shares of Teradyne by 3,233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company's stock valued at $176,144,000 after buying an additional 882,723 shares during the last quarter. Finally, Gouws Capital LLC lifted its holdings in shares of Teradyne by 96.0% during the 4th quarter. Gouws Capital LLC now owns 15,323 shares of the company's stock valued at $2,966,000 after buying an additional 7,505 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Stock Down 2.2%

Shares of TER stock opened at $374.31 on Friday. Teradyne, Inc. has a 12 month low of $77.02 and a 12 month high of $422.11. The firm has a market cap of $58.59 billion, a PE ratio of 69.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.79. The stock has a 50 day moving average of $348.35 and a 200-day moving average of $276.44.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.45. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company's quarterly revenue was up 87.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, equities analysts predict that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TER shares. Stifel Nicolaus lifted their price target on Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Evercore set a $370.00 price target on Teradyne in a report on Thursday, April 30th. Citigroup boosted their target price on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Susquehanna boosted their target price on Teradyne from $335.00 to $415.00 and gave the stock a "positive" rating in a report on Thursday, April 9th. Finally, Morgan Stanley set a $387.00 target price on Teradyne in a report on Thursday, April 30th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $339.80.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the business'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 transaction of $2,914,211.06. Following the sale, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. The trade was a 6.46% decrease in their ownership of the stock. The transaction 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. Also, insider Shannon John Poulin sold 656 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the sale, the insider owned 15,722 shares in the company, valued at approximately $5,581,310. This represents a 4.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 10,941 shares of company stock worth $3,751,992. Company insiders own 0.19% of the company's stock.

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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