VELA Investment Management LLC Buys 5,406 Shares of Teradyne, Inc. (NASDAQ:TER)

VELA Investment Management LLC raised its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,803 shares of the company's stock after buying an additional 5,406 shares during the quarter. VELA Investment Management LLC's holdings in Teradyne were worth $1,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Teradyne in the 1st quarter valued at $468,000. IFM Investors Pty Ltd lifted its holdings in shares of Teradyne by 6.3% in the first quarter. IFM Investors Pty Ltd now owns 32,480 shares of the company's stock valued at $2,683,000 after purchasing an additional 1,933 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Teradyne by 1.1% in the first quarter. Calamos Advisors LLC now owns 102,062 shares of the company's stock valued at $8,430,000 after purchasing an additional 1,137 shares in the last quarter. Capital Investment Counsel Inc lifted its holdings in shares of Teradyne by 2.8% in the first quarter. Capital Investment Counsel Inc now owns 33,228 shares of the company's stock valued at $2,745,000 after purchasing an additional 900 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Teradyne in the first quarter valued at about $2,991,000. Institutional investors own 99.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TER. KeyCorp restated a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Bank of America cut their price objective on shares of Teradyne from $100.00 to $85.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird cut their price objective on shares of Teradyne from $140.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Susquehanna cut their price objective on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price target on shares of Teradyne from $125.00 to $110.00 and set a "hold" rating on the stock in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $114.33.

Teradyne Trading Down 2.7%

TER stock traded down $2.47 during mid-day trading on Monday, hitting $90.59. The stock had a trading volume of 3,151,033 shares, compared to its average volume of 2,733,629. The firm has a fifty day simple moving average of $83.33 and a 200 day simple moving average of $97.37. The firm has a market capitalization of $14.53 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.07 and a beta of 1.70. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $163.21.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.14. Teradyne had a net margin of 19.86% and a return on equity of 20.06%. The business had revenue of $685.70 million for the quarter, compared to analysts' expectations of $680.54 million. During the same period last year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's dividend payout ratio is presently 13.56%.

Teradyne declared that its board has initiated a share buyback plan on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Teradyne Company Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.