Parkway Wealth Management Group LLC Buys New Stake in Teradyne, Inc. $TER

Parkway Wealth Management Group LLC bought a new stake in shares of Teradyne, Inc. (NASDAQ:TER) during the first quarter, HoldingsChannel reports. The fund bought 10,894 shares of the company’s stock, valued at approximately $3,230,000.

Several other hedge funds also recently bought and sold shares of TER. ARK Investment Management LLC raised its holdings in Teradyne by 25.2% in the 3rd quarter. ARK Investment Management LLC now owns 2,722,327 shares of the company’s stock valued at $374,701,000 after acquiring an additional 548,140 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Teradyne by 656.4% during the 4th quarter. Nordea Investment Management AB now owns 125,312 shares of the company’s stock worth $24,554,000 after purchasing an additional 108,745 shares during the period. Gouws Capital LLC boosted its holdings in shares of Teradyne by 96.0% during the fourth quarter. Gouws Capital LLC now owns 15,323 shares of the company’s stock worth $2,966,000 after purchasing an additional 7,505 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 worth $176,144,000 after purchasing an additional 882,723 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in shares of Teradyne by 56.0% in the fourth quarter. Wealthfront Advisers LLC now owns 29,336 shares of the company’s stock valued at $5,678,000 after purchasing an additional 10,526 shares during the period. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insider Activity

In related news, insider Shannon John Poulin sold 1,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $345.37, for a total value of $348,132.96. Following the transaction, the insider owned 15,066 shares in the company, valued at approximately $5,203,344.42. This trade represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Teradyne stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. This trade represents a 6.46% 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. Insiders have sold 14,941 shares of company stock valued at $5,444,112 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Teradyne Trading Up 10.5%

Shares of TER opened at $471.96 on Friday. The firm has a market capitalization of $73.88 billion, a P/E ratio of 87.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.79. The stock’s fifty day simple moving average is $380.63 and its 200 day simple moving average is $307.83. Teradyne, Inc. has a twelve month low of $88.60 and a twelve month high of $472.37.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 87.0% compared to the same quarter last year. Sell-side analysts predict that Teradyne, Inc. will post 7.23 earnings per share for the current year.

Teradyne Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.1%. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s dividend payout ratio is presently 9.63%.

Wall Street Analyst Weigh In

Several research firms recently commented on TER. Citigroup upped their target price on Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. UBS Group lifted their price target on Teradyne from $325.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings raised shares of Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Bank of America increased their price objective on shares of Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Susquehanna raised their target price on shares of Teradyne from $335.00 to $415.00 and gave the stock a “positive” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $363.87.

Teradyne 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.