Westpac Banking Corp Invests $1.87 Million in Teradyne, Inc. $TER

Key Points

• Westpac Banking Corp disclosed a new fourth-quarter position in Teradyne, buying 9,650 shares valued at about $1.87 million.
• Teradyne posted strong quarterly results, with EPS of $2.56 beating estimates 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 generally bullish with a consensus rating of Moderate Buy and an average price target of $339.80.

Westpac Banking Corp purchased a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,650 shares of the company's stock, valued at approximately $1,868,000.

Other hedge funds have also recently modified their holdings of the company. Davidson Capital Management Inc. purchased a new stake in shares of Teradyne in the 3rd quarter worth approximately $31,000. CYBER HORNET ETFs LLC purchased a new stake in Teradyne during the second quarter valued at approximately $35,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Teradyne during the fourth quarter valued at approximately $37,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Teradyne during the third quarter valued at approximately $41,000. Finally, True Wealth Design LLC lifted its position in Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock valued at $41,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Insider Buying and Selling

In related news, insider Shannon John Poulin sold 656 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $355.00, for a total transaction of $232,880.00. Following the completion of the sale, the insider directly owned 15,722 shares in the company, valued at approximately $5,581,310. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the sale, the vice president owned 7,665 shares of the company's stock, valued at approximately $2,894,304. The trade was a 8.15% 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. Over the last ninety days, insiders sold 10,941 shares of company stock worth $3,751,992. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

TER has been the subject of a number of analyst reports. Susquehanna increased their target price on shares of Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a research report on Thursday, April 9th. Robert W. Baird set a $350.00 target price on shares of Teradyne in a research report on Thursday, April 30th. Morgan Stanley set a $387.00 target price on shares of Teradyne in a research report on Thursday, April 30th. Evercore set a $370.00 target price on shares of Teradyne in a research report on Thursday, April 30th. Finally, Zacks Research raised shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Teradyne presently has an average rating of "Moderate Buy" and a consensus target price of $339.80.

Teradyne Trading Up 4.3%

Shares of Teradyne stock opened at $409.67 on Thursday. The firm has a market capitalization of $64.13 billion, a price-to-earnings ratio of 75.86, a PEG ratio of 1.61 and a beta of 1.79. Teradyne, Inc. has a 12-month low of $81.07 and a 12-month high of $422.11. The firm's 50 day simple moving average is $353.85 and its two-hundred day simple moving average is $281.64.

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 the consensus estimate of $2.11 by $0.45. The firm 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%. The company's revenue for the quarter was up 87.0% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. On average, sell-side 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. Investors of record on Thursday, May 21st will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 21st. This is an increase from Teradyne's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.1%. Teradyne's dividend payout ratio (DPR) is 9.63%.

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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