XTX Topco Ltd Grows Stake in Teradyne, Inc. (NASDAQ:TER)

Key Points

• XTX Topco Ltd significantly increased its stake in Teradyne, Inc. by 665.1%, acquiring an additional 27,621 shares, bringing its total holdings to 31,774 shares valued at $2.625 million.
• Teradyne reported earnings of $0.57 per share for the last quarter, exceeding analysts' expectations, but experienced a 10.7% decline in revenue year-over-year.
• The company has approved a $1 billion stock buyback program, indicating that the board believes its stock is currently undervalued.

XTX Topco Ltd increased its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 665.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,774 shares of the company's stock after acquiring an additional 27,621 shares during the quarter. XTX Topco Ltd's holdings in Teradyne were worth $2,625,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Berbice Capital Management LLC boosted its position in Teradyne by 200.0% during the 1st quarter. Berbice Capital Management LLC now owns 300 shares of the company's stock valued at $25,000 after purchasing an additional 200 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Teradyne in the 4th quarter worth about $34,000. Sentry Investment Management LLC bought a new stake in shares of Teradyne during the first quarter valued at approximately $45,000. AdvisorNet Financial Inc boosted its position in shares of Teradyne by 319.0% during the first quarter. AdvisorNet Financial Inc now owns 595 shares of the company's stock worth $49,000 after buying an additional 453 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Teradyne by 36.1% during the first quarter. Allworth Financial LP now owns 795 shares of the company's stock worth $61,000 after buying an additional 211 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. KeyCorp reaffirmed a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Cantor Fitzgerald set a $105.00 price objective on shares of Teradyne and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Susquehanna decreased their price objective on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on Teradyne from $68.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price target (up from $88.00) on shares of Teradyne in a report on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $112.50.

Teradyne Price Performance

TER stock traded up $17.10 during mid-day trading on Wednesday, reaching $107.65. The company had a trading volume of 19,836,794 shares, compared to its average volume of 3,382,065. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $144.16. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.01 and a beta of 1.70. The stock has a 50 day simple moving average of $88.01 and a two-hundred day simple moving average of $93.37.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $651.80 million during the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The firm's revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, equities analysts predict that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne's payout ratio is 13.56%.

Teradyne announced that its Board of Directors has authorized a stock repurchase plan on Monday, April 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Teradyne 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.