Renaissance Technologies LLC Buys 163,600 Shares of Teradyne, Inc. $TER

Renaissance Technologies LLC raised its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 12,584.6% in the first quarter, Holdings Channel reports. The institutional investor owned 164,900 shares of the company’s stock after buying an additional 163,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Teradyne were worth $48,886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Teradyne in the 4th quarter worth approximately $28,000. CYBER HORNET ETFs LLC purchased a new position in shares of Teradyne during the 2nd quarter valued at $35,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Teradyne during the 4th quarter valued at $37,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Teradyne in the fourth quarter worth $41,000. Finally, DV Equities LLC bought a new position in shares of Teradyne in the fourth quarter worth $42,000. 99.77% of the stock is currently owned by institutional investors.

Insider Transactions at Teradyne

In other news, VP Ryan Driscoll sold 680 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was 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 approximately $2,894,304. This represents a 8.15% decrease in their position. The transaction was disclosed in a document filed 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. Also, CEO Gregory Stephen Smith sold 8,597 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 124,470 shares in the company, 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. In the last three months, insiders sold 14,941 shares of company stock worth $5,444,112. 0.19% of the stock is currently owned by corporate insiders.

Teradyne Stock Performance

NASDAQ TER opened at $334.77 on Tuesday. Teradyne, Inc. has a 52-week low of $89.18 and a 52-week high of $487.91. The company has a market capitalization of $52.40 billion, a P/E ratio of 61.99, a P/E/G ratio of 1.01 and a beta of 1.74. The company has a fifty day moving average of $382.69 and a 200-day moving average of $334.39.

Teradyne (NASDAQ:TER) last announced 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm’s quarterly revenue was up 87.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, analysts forecast that Teradyne, Inc. will post 7.2 EPS for the current fiscal year.

Teradyne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.2%. This is an increase 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 presently 9.63%.

Analysts Set New Price Targets

TER has been the topic of a number of recent analyst reports. Evercore set a $370.00 price objective on Teradyne in a research report on Thursday, April 30th. Citigroup upped their target price on Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Robert W. Baird lifted their price target on Teradyne from $350.00 to $446.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group boosted their price objective on Teradyne from $350.00 to $465.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, UBS Group boosted their price objective on Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Teradyne has a consensus rating of “Moderate Buy” and a consensus price target of $394.53.

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.