Teradyne, Inc. $TER Shares Sold by Ironwood Investment Counsel LLC

Key Points

• Ironwood Investment Counsel reduced its Teradyne stake by 17.2% in the fourth quarter, selling 7,360 shares and leaving it with 35,337 shares valued at about $6.84 million.
• Teradyne reported better-than-expected quarterly results, with EPS of $2.56 versus estimates of $2.11 and revenue of $1.28 billion, up 87% year over year.
• The company also raised its quarterly dividend to $0.13 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $339.80.

Ironwood Investment Counsel LLC cut its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,337 shares of the company's stock after selling 7,360 shares during the quarter. Teradyne makes up approximately 1.0% of Ironwood Investment Counsel LLC's portfolio, making the stock its 27th largest holding. Ironwood Investment Counsel LLC's holdings in Teradyne were worth $6,840,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Stephens Inc. AR grew its position in shares of Teradyne by 1.2% in the fourth quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock valued at $645,000 after purchasing an additional 41 shares during the last quarter. Sapient Capital LLC grew its position in shares of Teradyne by 1.5% in the fourth quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock valued at $560,000 after purchasing an additional 43 shares during the last quarter. Quent Capital LLC grew its position in shares of Teradyne by 3.8% in the fourth quarter. Quent Capital LLC now owns 1,738 shares of the company's stock valued at $336,000 after purchasing an additional 63 shares during the last quarter. Huntington National Bank grew its position in shares of Teradyne by 1.8% in the third quarter. Huntington National Bank now owns 3,566 shares of the company's stock valued at $491,000 after purchasing an additional 64 shares during the last quarter. Finally, Choreo LLC grew its position in shares of Teradyne by 2.2% in the fourth quarter. Choreo LLC now owns 3,043 shares of the company's stock valued at $599,000 after purchasing an additional 66 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Stock Performance

Shares of TER opened at $337.88 on Monday. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of 62.57, a PEG ratio of 1.39 and a beta of 1.79. The company's 50 day simple moving average is $335.74 and its 200 day simple moving average is $264.38. Teradyne, Inc. has a 1 year low of $75.99 and a 1 year high of $422.11.

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. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. Teradyne's revenue was up 87.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Equities analysts expect that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The business also recently declared 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 an increase from Teradyne's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, May 21st. Teradyne's payout ratio is 9.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. TD Cowen reissued a "buy" rating on shares of Teradyne in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective on the stock in a research note on Thursday, April 30th. Northland Securities reissued a "market perform" rating and set a $270.00 price objective on shares of Teradyne in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Teradyne from $300.00 to $350.00 and gave the company a "buy" rating in a research note 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 given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $339.80.

Insiders Place Their Bets

In other Teradyne news, VP Ryan Driscoll sold 680 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total transaction of $256,768.00. Following the transaction, the vice president owned 7,665 shares of the company's stock, valued at $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

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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