Arrowstreet Capital Limited Partnership Lowers Holdings in Teradyne, Inc. $TER

Arrowstreet Capital Limited Partnership lessened its holdings in Teradyne, Inc. (NASDAQ:TER) by 41.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,980 shares of the company’s stock after selling 136,958 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.12% of Teradyne worth $56,914,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in shares of Teradyne by 0.9% during the 4th quarter. State Street Corp now owns 7,078,635 shares of the company’s stock worth $1,370,141,000 after purchasing an additional 60,986 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Teradyne by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock worth $442,413,000 after acquiring an additional 143,058 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Teradyne by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company’s stock worth $813,640,000 after acquiring an additional 659,273 shares in the last quarter. Invesco Ltd. lifted its stake in Teradyne by 3.5% during the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company’s stock worth $407,322,000 after purchasing an additional 99,864 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Teradyne by 1.9% during the fourth quarter. Morgan Stanley now owns 2,442,014 shares of the company’s stock worth $472,677,000 after purchasing an additional 45,089 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TER has been the topic of a number of research reports. Susquehanna raised their target price on shares of Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research report on Tuesday, June 30th. Evercore set a $370.00 price target on shares of Teradyne in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Teradyne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Zacks Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upgraded 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $394.53.

Insider Activity

In other Teradyne news, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the transaction, the vice president directly owned 7,665 shares of the company’s stock, valued at $2,894,304. This represents a 8.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $345.37, for a total value of $348,132.96. Following the completion of the transaction, the insider directly owned 15,066 shares of the company’s stock, valued at $5,203,344.42. This represents a 6.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders sold 14,941 shares of company stock worth $5,444,112. 0.19% of the stock is currently owned by company insiders.

Teradyne Stock Performance

Shares of NASDAQ TER opened at $334.77 on Tuesday. The firm has a market cap of $52.40 billion, a P/E ratio of 61.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.74. Teradyne, Inc. has a 1 year low of $89.18 and a 1 year high of $487.91. The firm’s 50 day moving average price is $382.69 and its 200 day moving average price is $334.39.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 87.0% on a year-over-year basis. As a group, equities analysts predict that Teradyne, Inc. will post 7.2 EPS for the current year.

Teradyne Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.2%. This is a boost from Teradyne’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 21st. Teradyne’s payout ratio is currently 9.63%.

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.