Alkeon Capital Management LLC Cuts Stock Position in Teradyne, Inc. $TER

Alkeon Capital Management LLC lessened its position in Teradyne, Inc. (NASDAQ:TER) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,432,910 shares of the company’s stock after selling 440,000 shares during the quarter. Teradyne makes up 0.7% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Alkeon Capital Management LLC’s holdings in Teradyne were worth $470,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Teradyne by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,417,717 shares of the company’s stock valued at $2,947,935,000 after buying an additional 444,940 shares during the period. State Street Corp increased its position in shares of Teradyne by 0.9% during the fourth quarter. State Street Corp now owns 7,078,635 shares of the company’s stock worth $1,370,141,000 after acquiring an additional 60,986 shares during the period. Ameriprise Financial Inc. increased its position in shares of Teradyne by 6.8% during the third quarter. Ameriprise Financial Inc. now owns 5,256,857 shares of the company’s stock worth $723,600,000 after acquiring an additional 336,757 shares during the period. Invesco Ltd. increased its position in shares of 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 acquiring an additional 99,864 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of Teradyne by 25.2% during the third quarter. ARK Investment Management LLC now owns 2,722,327 shares of the company’s stock worth $374,701,000 after acquiring an additional 548,140 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Price Performance

NASDAQ:TER opened at $432.41 on Tuesday. The firm has a market capitalization of $67.69 billion, a PE ratio of 80.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79. The business’s fifty day moving average price is $366.69 and its 200 day moving average price is $294.00. Teradyne, Inc. has a 12 month low of $84.12 and a 12 month high of $437.77.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.11 by $0.45. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.Teradyne’s revenue for the quarter was up 87.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, equities analysts anticipate that Teradyne, Inc. will post 7.09 EPS for the current year.

Teradyne Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were 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 was Thursday, May 21st. Teradyne’s dividend payout ratio is currently 9.63%.

Insider Activity at Teradyne

In related news, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $345.37, for a total value of $348,132.96. Following the transaction, the insider owned 15,066 shares of the company’s stock, valued at $5,203,344.42. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock in a transaction on 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 in the company, valued at $2,894,304. This trade represents a 8.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,941 shares of company stock valued at $3,751,992 over the last quarter. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on TER shares. Stifel Nicolaus upped their price objective on Teradyne from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price objective on the stock in a research report on Thursday, April 30th. UBS Group upped their price objective on Teradyne from $325.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen raised Teradyne from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Morgan Stanley set a $387.00 price objective on Teradyne in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.80.

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.