VELA Investment Management LLC Raises Position in Teradyne, Inc. (NASDAQ:TER)

VELA Investment Management LLC boosted its position in Teradyne, Inc. (NASDAQ:TER) by 35.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,803 shares of the company’s stock after purchasing an additional 5,406 shares during the period. VELA Investment Management LLC’s holdings in Teradyne were worth $1,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Teradyne during the 4th quarter worth $34,000. AllSquare Wealth Management LLC lifted its holdings in Teradyne by 200.0% during the fourth quarter. AllSquare Wealth Management LLC now owns 300 shares of the company’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Teradyne during the fourth quarter worth about $45,000. Sentry Investment Management LLC purchased a new position in shares of Teradyne in the first quarter worth about $45,000. Finally, Atala Financial Inc bought a new stake in shares of Teradyne in the fourth quarter valued at approximately $47,000. 99.77% of the stock is owned by institutional investors.

Teradyne Stock Performance

Teradyne stock opened at $92.87 on Friday. Teradyne, Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $163.21. The firm’s fifty day moving average price is $83.06 and its 200-day moving average price is $97.99. The stock has a market cap of $14.90 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 4.07 and a beta of 1.70.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.14. Teradyne had a return on equity of 20.06% and a net margin of 19.86%. The firm had revenue of $685.70 million during the quarter, compared to analyst estimates of $680.54 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne announced that its Board of Directors has authorized a share buyback program on Monday, April 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Teradyne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, May 22nd. Teradyne’s dividend payout ratio is currently 13.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TER shares. KeyCorp reaffirmed a “sector weight” rating on shares of Teradyne in a report on Thursday, April 17th. Robert W. Baird cut their price target on Teradyne from $140.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Vertical Research initiated coverage on Teradyne in a research report on Friday, March 7th. They issued a “buy” rating and a $135.00 price target for the company. Susquehanna dropped their price objective on Teradyne from $155.00 to $133.00 and set a “positive” rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their target price on Teradyne from $125.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Teradyne Company 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.