Westpac Banking Corp Purchases Shares of 9,650 Teradyne, Inc. $TER

Westpac Banking Corp purchased a new stake in shares of Teradyne, Inc. (NASDAQ:TER) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,650 shares of the company’s stock, valued at approximately $1,868,000.

A number of other institutional investors have also made changes to their positions in TER. Norges Bank acquired a new stake in shares of Teradyne during the fourth quarter valued at about $398,777,000. Wellington Management Group LLP increased its position in shares of Teradyne by 13,949.4% during the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock valued at $280,357,000 after acquiring an additional 2,022,389 shares during the last quarter. Alkeon Capital Management LLC increased its position in shares of Teradyne by 48.6% during the third quarter. Alkeon Capital Management LLC now owns 2,872,910 shares of the company’s stock valued at $395,427,000 after acquiring an additional 940,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Teradyne by 3,233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company’s stock valued at $176,144,000 after acquiring an additional 882,723 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Teradyne by 65.4% during the second quarter. Rafferty Asset Management LLC now owns 2,166,039 shares of the company’s stock valued at $194,770,000 after acquiring an additional 856,540 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TER shares. The Goldman Sachs Group lifted their price target on shares of Teradyne from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Citigroup raised their price objective on shares of Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Stifel Nicolaus raised their price objective on shares of Teradyne from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Northland Securities reissued a “market perform” rating and issued a $270.00 price objective on shares of Teradyne in a research note on Wednesday, February 4th. Finally, Evercore set a $370.00 price objective on shares of Teradyne in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.80.

Teradyne Stock Up 4.3%

Shares of Teradyne stock opened at $409.67 on Thursday. Teradyne, Inc. has a 52-week low of $81.07 and a 52-week high of $422.11. The company has a 50 day moving average of $353.85 and a 200 day moving average of $281.64. The company has a market capitalization of $64.13 billion, a P/E ratio of 75.86, a P/E/G ratio of 1.61 and a beta of 1.79.

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, topping 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 87.0% on a year-over-year basis. As a group, research analysts anticipate that Teradyne, Inc. will post 7.09 earnings per share for the current fiscal year.

Teradyne Increases Dividend

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

Insider Transactions at Teradyne

In other news, insider Shannon John Poulin sold 656 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total transaction of $232,880.00. Following the completion of the sale, the insider owned 15,722 shares in the company, valued at approximately $5,581,310. The trade was a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 124,470 shares of the company’s stock, valued at $42,192,840.60. This represents a 6.46% decrease in their position. 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. In the last quarter, insiders sold 10,941 shares of company stock worth $3,751,992. 0.19% of the stock is currently owned by insiders.

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.