Watershed Asset Management L.L.C. Takes Position in Teradyne, Inc. $TER

Watershed Asset Management L.L.C. purchased a new stake in shares of Teradyne, Inc. (NASDAQ:TER) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,900 shares of the company’s stock, valued at approximately $2,638,000. Teradyne accounts for 2.7% of Watershed Asset Management L.L.C.’s portfolio, making the stock its 9th largest holding.

Several other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in Teradyne by 0.9% in the 4th quarter. State Street Corp now owns 7,078,635 shares of the company’s stock valued at $1,370,141,000 after purchasing an additional 60,986 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Teradyne by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock valued at $442,413,000 after purchasing an additional 143,058 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Teradyne by 18.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company’s stock valued at $813,640,000 after acquiring an additional 659,273 shares in the last quarter. Invesco Ltd. lifted its position in shares of Teradyne by 3.5% during the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company’s stock worth $407,322,000 after purchasing an additional 99,864 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Teradyne by 1.9% during the 4th quarter. Morgan Stanley now owns 2,442,014 shares of the company’s stock worth $472,677,000 after buying an additional 45,089 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TER shares. Citigroup raised their target price on shares of Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Cantor Fitzgerald boosted their price target on shares of Teradyne from $400.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price objective for the company in a report on Thursday, April 30th. Weiss Ratings raised shares of Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Zacks Research upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $390.53.

Insider Activity at Teradyne

In related news, VP Ryan Driscoll sold 680 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the transaction, the vice president directly owned 7,665 shares in the company, valued at $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the transaction, the insider owned 15,722 shares of the company’s stock, valued at $5,581,310. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 14,941 shares of company stock worth $5,444,112. Company insiders own 0.19% of the company’s stock.

Teradyne Price Performance

TER opened at $322.36 on Friday. Teradyne, Inc. has a fifty-two week low of $89.18 and a fifty-two week high of $487.91. The business has a 50-day moving average of $382.06 and a 200-day moving average of $327.17. The company has a market capitalization of $50.46 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 0.93 and a beta of 1.74.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The firm’s revenue was up 87.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. On average, equities research analysts expect that Teradyne, Inc. will post 7.2 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a dividend of $0.13 per share. This is an increase from Teradyne’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. Teradyne’s dividend payout ratio (DPR) is currently 9.63%.

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.