Pinnacle Associates Ltd. Buys New Stake in Teradyne, Inc. $TER

Pinnacle Associates Ltd. bought a new stake in shares of Teradyne, Inc. (NASDAQ:TER) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,617 shares of the company’s stock, valued at approximately $313,000.

Several other institutional investors also recently bought and sold shares of TER. Integrated Wealth Concepts LLC grew its stake in Teradyne by 12.8% during the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock valued at $342,000 after acquiring an additional 468 shares in the last quarter. Caxton Associates LLP purchased a new position in Teradyne during the first quarter valued at $297,000. Cresset Asset Management LLC grew its stake in Teradyne by 11.6% during the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock valued at $608,000 after acquiring an additional 702 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Teradyne by 467.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock worth $306,000 after buying an additional 2,807 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Teradyne by 5.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock worth $6,755,000 after buying an additional 3,651 shares in the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TER has been the subject of a number of recent research reports. Zacks Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. TD Cowen restated a “buy” rating on shares of Teradyne in a report on Thursday, January 22nd. Cantor Fitzgerald lifted their price objective on shares of Teradyne from $330.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Evercore set a $370.00 price objective on shares of Teradyne in a report on Thursday, April 30th. Finally, Stifel Nicolaus boosted their price target on shares of Teradyne from $325.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.80.

Teradyne Trading Up 0.1%

Shares of Teradyne stock opened at $321.52 on Wednesday. Teradyne, Inc. has a 12-month low of $75.99 and a 12-month high of $422.11. The firm has a market capitalization of $50.33 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 1.32 and a beta of 1.79. The firm’s 50 day simple moving average is $337.02 and its two-hundred day simple moving average is $266.66.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $0.75 EPS. Teradyne’s revenue for the quarter was up 87.0% compared to the same quarter last year. On average, sell-side analysts predict that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, May 21st. This is a positive change from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s dividend payout ratio (DPR) is currently 9.63%.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $338.98, for a total value of $2,914,211.06. Following the sale, the chief executive officer directly owned 124,470 shares of the company’s stock, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total transaction of $256,768.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

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.