Prospector Partners LLC Raises Stake in Teradyne, Inc. (NASDAQ:TER)

Prospector Partners LLC raised its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,730 shares of the company’s stock after acquiring an additional 380 shares during the period. Prospector Partners LLC’s holdings in Teradyne were worth $9,747,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TER. Vanguard Group Inc. raised its position in Teradyne by 0.7% during the first quarter. Vanguard Group Inc. now owns 18,421,186 shares of the company’s stock valued at $2,078,462,000 after acquiring an additional 135,286 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Teradyne by 10.4% during the 1st quarter. Van ECK Associates Corp now owns 4,815,017 shares of the company’s stock valued at $543,278,000 after purchasing an additional 453,926 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Teradyne by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,603,123 shares of the company’s stock valued at $682,597,000 after purchasing an additional 57,989 shares during the period. Nordea Investment Management AB boosted its holdings in Teradyne by 14.6% during the first quarter. Nordea Investment Management AB now owns 3,028,930 shares of the company’s stock worth $342,178,000 after buying an additional 385,115 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Teradyne by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,182,136 shares of the company’s stock worth $246,210,000 after buying an additional 68,924 shares in the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

Teradyne Trading Down 3.6 %

Shares of NASDAQ TER opened at $128.95 on Friday. The company has a 50-day moving average of $131.76 and a 200 day moving average of $128.18. Teradyne, Inc. has a 12-month low of $81.07 and a 12-month high of $163.21. The stock has a market cap of $20.13 billion, a PE ratio of 49.03, a P/E/G ratio of 2.62 and a beta of 1.49.

Teradyne (NASDAQ:TER) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. Teradyne had a return on equity of 18.77% and a net margin of 18.33%. The firm had revenue of $729.88 million during the quarter, compared to analysts’ expectations of $701.20 million. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Teradyne, Inc. will post 3.02 EPS for the current fiscal year.

Teradyne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.37%. Teradyne’s payout ratio is 18.25%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TER. Evercore ISI downgraded shares of Teradyne from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Northland Capmk downgraded Teradyne from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. Cantor Fitzgerald upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 price objective for the company in a research report on Friday, August 16th. The Goldman Sachs Group increased their target price on Teradyne from $118.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird boosted their price target on shares of Teradyne from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.50.

Insider Activity at Teradyne

In other Teradyne news, Director Mercedes Johnson sold 625 shares of Teradyne stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $128.77, for a total transaction of $80,481.25. Following the transaction, the director now directly owns 17,143 shares of the company’s stock, valued at $2,207,504.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mercedes Johnson sold 625 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $128.77, for a total value of $80,481.25. Following the completion of the transaction, the director now directly owns 17,143 shares in the company, valued at $2,207,504.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Mehta sold 6,153 shares of Teradyne stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $133.06, for a total value of $818,718.18. Following the completion of the sale, the chief financial officer now owns 35,834 shares in the company, valued at approximately $4,768,072.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,483 shares of company stock valued at $1,383,031. 0.36% of the stock is owned by company insiders.

About Teradyne

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.