Picton Mahoney Asset Management Invests $7.04 Million in Teradyne, Inc. (TER)
Picton Mahoney Asset Management purchased a new stake in shares of Teradyne, Inc. (NYSE:TER) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 234,400 shares of the semiconductor company’s stock, valued at approximately $7,038,000. Picton Mahoney Asset Management owned approximately 0.12% of Teradyne as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TER. BlackRock Inc. grew its holdings in shares of Teradyne by 11,980.5% during the 1st quarter. BlackRock Inc. now owns 18,369,484 shares of the semiconductor company’s stock valued at $571,292,000 after acquiring an additional 18,217,425 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Teradyne by 238.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,877,810 shares of the semiconductor company’s stock valued at $116,451,000 after acquiring an additional 2,731,167 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Teradyne by 71.0% during the 2nd quarter. Wells Fargo & Company MN now owns 4,293,075 shares of the semiconductor company’s stock valued at $128,922,000 after acquiring an additional 1,781,854 shares in the last quarter. Capital Growth Management LP purchased a new position in shares of Teradyne during the 1st quarter valued at $55,047,000. Finally, Coatue Management LLC purchased a new position in shares of Teradyne during the 2nd quarter valued at $39,545,000. Institutional investors and hedge funds own 93.10% of the company’s stock.
Shares of Teradyne, Inc. (NYSE:TER) traded up 0.62% during midday trading on Friday, reaching $37.29. 2,142,888 shares of the company were exchanged. Teradyne, Inc. has a 52-week low of $20.22 and a 52-week high of $37.47. The stock has a 50-day moving average price of $34.77 and a 200 day moving average price of $33.44. The company has a market capitalization of $7.38 billion, a P/E ratio of 19.24 and a beta of 0.94.
Teradyne (NYSE:TER) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. Teradyne had a net margin of 20.08% and a return on equity of 21.25%. The firm had revenue of $697.00 million for the quarter, compared to analyst estimates of $683.66 million. During the same period in the previous year, the business earned $0.55 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. Equities research analysts expect that Teradyne, Inc. will post $1.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were paid a $0.07 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.28 annualized dividend and a yield of 0.75%. Teradyne’s payout ratio is currently 14.51%.
TER has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Teradyne from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, June 28th. BidaskClub cut shares of Teradyne from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. KeyCorp restated a “buy” rating and set a $40.00 price target on shares of Teradyne in a report on Tuesday, September 5th. Finally, Stifel Nicolaus upgraded shares of Teradyne from a “hold” rating to a “buy” rating and boosted their price target for the company from $32.00 to $39.00 in a report on Wednesday, July 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.83.
In other news, insider Mark E. Jagiela sold 30,000 shares of Teradyne stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now owns 248,413 shares of the company’s stock, valued at approximately $8,570,248.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brad Robbins sold 15,892 shares of Teradyne stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $34.54, for a total transaction of $548,909.68. Following the completion of the transaction, the insider now directly owns 19,171 shares of the company’s stock, valued at approximately $662,166.34. The disclosure for this sale can be found here. Insiders sold a total of 141,698 shares of company stock worth $5,012,857 over the last quarter. Company insiders own 0.62% of the company’s stock.
Teradyne, Inc supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries.
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