Holocene Advisors LP Makes New $91.13 Million Investment in Teradyne, Inc. (NASDAQ:TER)

Holocene Advisors LP purchased a new stake in Teradyne, Inc. (NASDAQ:TER) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 680,419 shares of the company’s stock, valued at approximately $91,129,000. Holocene Advisors LP owned 0.42% of Teradyne at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Alkeon Capital Management LLC raised its position in shares of Teradyne by 189.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,144,017 shares of the company’s stock worth $153,218,000 after acquiring an additional 749,003 shares in the last quarter. Swedbank AB raised its holdings in Teradyne by 198.8% during the second quarter. Swedbank AB now owns 641,614 shares of the company’s stock worth $95,145,000 after buying an additional 426,900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Teradyne by 18.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,432,722 shares of the company’s stock valued at $325,814,000 after acquiring an additional 374,522 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Teradyne by 70.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 742,207 shares of the company’s stock valued at $99,404,000 after purchasing an additional 307,724 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Teradyne by 4,695.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 290,249 shares of the company’s stock worth $43,041,000 after purchasing an additional 284,197 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Price Performance

NASDAQ TER opened at $110.00 on Monday. The business’s 50-day moving average is $117.95 and its 200 day moving average is $131.12. The stock has a market capitalization of $17.91 billion, a PE ratio of 34.92, a PEG ratio of 2.38 and a beta of 1.52. Teradyne, Inc. has a 1 year low of $90.24 and a 1 year high of $163.21.

Teradyne (NASDAQ:TER) last posted its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. The firm had revenue of $737.30 million for the quarter, compared to analysts’ expectations of $716.40 million. During the same period in the previous year, the firm earned $0.80 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Teradyne, Inc. will post 3.17 earnings per share for the current year.

Teradyne announced that its board has initiated a stock repurchase program on Monday, November 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Teradyne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, November 25th. Teradyne’s payout ratio is currently 15.24%.

Insider Activity at Teradyne

In other news, Director Mercedes Johnson sold 625 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $133.49, for a total value of $83,431.25. Following the completion of the sale, the director now directly owns 16,518 shares in the company, valued at $2,204,987.82. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory Stephen Smith sold 3,080 shares of Teradyne stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $130.00, for a total transaction of $400,400.00. Following the transaction, the chief executive officer now directly owns 83,816 shares in the company, valued at $10,896,080. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,199 shares of company stock valued at $1,080,634 over the last ninety days. Insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TER. Northland Securities cut their target price on Teradyne from $126.00 to $117.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus lowered their target price on shares of Teradyne from $140.00 to $125.00 and set a “hold” rating for the company in a report on Friday, October 25th. Craig Hallum reduced their price objective on shares of Teradyne from $124.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Robert W. Baird dropped their target price on shares of Teradyne from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Cantor Fitzgerald raised Teradyne from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $142.62.

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.