Bridges Investment Management Inc. Buys New Shares in Teradyne, Inc. $TER

Bridges Investment Management Inc. purchased a new position in Teradyne, Inc. (NASDAQ:TER) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,538 shares of the company’s stock, valued at approximately $298,000.

A number of other large investors have also added to or reduced their stakes in TER. Norges Bank bought a new stake in Teradyne in the 4th quarter worth $398,777,000. Wellington Management Group LLP grew its holdings in Teradyne by 13,949.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after acquiring an additional 2,022,389 shares during the last quarter. Alkeon Capital Management LLC grew its holdings in Teradyne by 48.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock worth $395,427,000 after acquiring an additional 940,000 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Teradyne by 3,233.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company’s stock worth $176,144,000 after acquiring an additional 882,723 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Teradyne by 65.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 2,166,039 shares of the company’s stock worth $194,770,000 after acquiring an additional 856,540 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.

Teradyne Price Performance

Shares of NASDAQ TER opened at $406.86 on Friday. Teradyne, Inc. has a 1 year low of $81.07 and a 1 year high of $422.11. The stock has a market cap of $63.69 billion, a P/E ratio of 75.34, a price-to-earnings-growth ratio of 1.69 and a beta of 1.79. The firm has a 50-day moving average of $355.58 and a 200 day moving average of $283.30.

Teradyne (NASDAQ:TER) last issued 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. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The business’s revenue for the quarter was up 87.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Research analysts expect that Teradyne, Inc. will post 7.09 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.1%. This is a boost from Teradyne’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, May 21st. Teradyne’s dividend payout ratio is presently 9.63%.

Wall Street Analysts Forecast Growth

TER has been the topic of a number of recent analyst reports. Zacks Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Susquehanna raised their price target on shares of Teradyne from $335.00 to $415.00 and gave the stock a “positive” rating in a report on Thursday, April 9th. Citigroup raised their price target on shares of Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. UBS Group lifted their target price on shares of Teradyne from $325.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald lifted their target price on shares of Teradyne from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.80.

Insiders Place Their Bets

In other Teradyne news, insider Shannon John Poulin sold 1,008 shares of Teradyne 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 approximately $5,203,344.42. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing 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, CEO Gregory Stephen Smith sold 8,597 shares of Teradyne stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the completion of the transaction, the chief executive officer directly owned 124,470 shares of the company’s stock, valued at $42,192,840.60. This trade represents a 6.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $3,751,992. Insiders own 0.19% of the company’s stock.

Teradyne 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.