Teradyne, Inc. $TER Stock Holdings Reduced by XXEC Inc.

Key Points

• XXEC Inc. cut its stake in Teradyne by 45.3% in the third quarter, selling 52,327 shares and leaving it with 63,189 shares valued at $8.697 million (Teradyne is 7.5% of XXEC’s portfolio and its 4th largest holding).
• Meanwhile, several large institutions materially increased exposure—Wellington bought ~2.02 million shares (now ~2.04M, ~$280.4M), Norges Bank opened a ~ $152.9M position, and total institutional ownership stands at 99.77%.
• Teradyne beat expectations with EPS $1.80 vs. $1.36 and revenue $1.08B (up 43.9% YoY); analysts have a consensus rating of Moderate Buy with a $273.73 target and several firms raising targets into the $300s.

XXEC Inc. cut its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 45.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,189 shares of the company's stock after selling 52,327 shares during the period. Teradyne comprises approximately 7.5% of XXEC Inc.'s portfolio, making the stock its 4th largest position. XXEC Inc.'s holdings in Teradyne were worth $8,697,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TER. Wellington Management Group LLP boosted its position in shares of Teradyne by 13,949.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company's stock valued at $280,357,000 after purchasing an additional 2,022,389 shares during the period. Norges Bank acquired a new position in Teradyne during the second quarter worth approximately $152,854,000. Federated Hermes Inc. lifted its stake in Teradyne by 79.7% in the second quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company's stock valued at $340,353,000 after buying an additional 1,679,215 shares during the last quarter. Amundi boosted its holdings in shares of Teradyne by 255.3% in the second quarter. Amundi now owns 1,812,001 shares of the company's stock valued at $170,654,000 after acquiring an additional 1,302,025 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of Teradyne by 58.6% in the second quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company's stock valued at $274,036,000 after acquiring an additional 1,125,868 shares during the period. Hedge funds and other institutional investors own 99.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TER. Robert W. Baird set a $305.00 target price on shares of Teradyne in a report on Wednesday, February 4th. TD Cowen reiterated a "buy" rating on shares of Teradyne in a research note on Thursday, January 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Teradyne in a research report on Thursday, January 22nd. Citigroup upped their target price on shares of Teradyne from $215.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Finally, Morgan Stanley set a $306.00 target price on shares of Teradyne in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $273.73.

Teradyne Price Performance

NASDAQ:TER opened at $299.40 on Wednesday. The firm has a market cap of $46.87 billion, a price-to-earnings ratio of 86.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.76. The firm's fifty day moving average price is $277.79 and its 200 day moving average price is $202.81. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $344.92.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.36 by $0.44. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $970.44 million. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The business's revenue was up 43.9% on a year-over-year basis. During the same quarter last year, the business earned $0.95 EPS. As a group, analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, February 13th. Teradyne's payout ratio is currently 14.94%.

About Teradyne

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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