Artemis Investment Management LLP, a prominent institutional investor, has recently decreased its stake in Teradyne, Inc. (NASDAQ: TER) by 14.4% during the second quarter of this year. This information comes from Artemis Investment Management LLP’s latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 10,144 shares of Teradyne’s stock, having sold 1,704 shares during this period. At the end of the reporting period, Artemis Investment Management LLP’s holdings in Teradyne were valued at approximately $1,128,000.
Teradyne, a leading provider of automatic test equipment (ATE), last released its quarterly earnings data on Wednesday, July 26th. The company reported earnings per share (EPS) of $0.79 for the quarter, surpassing the consensus estimate of $0.66 by $0.13. Its revenue for the quarter was $684 million, exceeding the consensus estimate of $656.94 million. Despite this positive news, Teradyne experienced an 18.7% decline in revenue compared to the previous year.
The return on equity for Teradyne during this quarter stood at an impressive 23.37%, indicating strong profitability and efficient use of shareholders’ investments. Additionally, the company achieved a net margin of 19.55%. In comparison to the same period in the prior year when it earned $1.21 per share, Teradyne’s earnings were lower at $0.79 per share.
Equities research analysts have projected that Teradyne will post earnings per share of 2.83 for the current fiscal year as a whole.
It is important to note that investing decisions made by institutional investors like Artemis Investment Management LLP hold significant weight due to their expertise and experience in navigating financial markets effectively.
For investors interested in staying updated on Teradyne’s latest developments and financial performance, it may be advantageous to review the most recent analysis available on the company. This will provide valuable insights into Teradyne’s future prospects and potential investment opportunities.
[Reference date: September 30, 2023]
Hedge Funds Increase Stakes in Teradyne, Reflecting Confidence in Company’s Growth
In recent news, several hedge funds have made significant changes to their stakes in Teradyne, a leading technology company. Nelson Van Denburg & Campbell Wealth Management Group LLC entered the market as a new investor during the second quarter with a position valued at $370,000. Windward Capital Management Co. CA slightly increased its stake in Teradyne by 0.3% in the same period, now owning 113,893 shares worth $12,680,000.
Moreover, Baker Chad R expanded its stake by an impressive 35.7%, acquiring an additional 20,995 shares and bringing its total ownership of Teradyne stock to 79,760 shares valued at $8,880,000. Paradiem LLC also demonstrated faith in the company by increasing its holdings by 8.7%, now owning 40,219 shares worth $4,478,000.
One of the most dramatic alterations came from Allspring Global Investments Holdings LLC which aggressively raised its stake in Teradyne by an outstanding 2,058.5%. This move added an astonishing 335,666 shares to their portfolio for a total of 351,972 shares valued at $39,185,000.
These changes reflect a strong interest from hedge funds and institutional investors who collectively own an overwhelming majority of Teradyne’s stock at approximately 99.77%.
On another note, Teradyne’s stock opened at $99.68 on September 30th with a fifty-day moving average price of $104.03 and a two-hundred-day moving average price of $102.91. The company currently holds a market capitalization value of $15.35 billion with a price-to-earnings ratio of 29.58 and a beta of 1.53.
Teradyne follows a dividend policy and recently declared that shareholders recorded as of Friday September 1st will be awarded a quarterly dividend of $0.11 per share. The dividend was paid on Monday, September 25th, resulting in an annualized dividend of $0.44 and a yield of 0.44%. Teradyne’s dividend payout ratio (DPR) currently stands at 13.06%.
To gain insight into Teradyne’s performance, several equities analysts have expressed their opinion on the company’s outlook. Robert W. Baird raised their price target from $104.00 to $115.00 in a research note issued on July 28th, while KeyCorp increased its target price from $117.00 to $140.00 on July 18th.
Citigroup also presented a positive view by elevating Teradyne’s price target from $125.00 to $127.00 on July 28th.
Additionally, StockNews.com initiated coverage on Teradyne’s stock with a “hold” rating on August 23rd.
Overall, the consensus among analysts appears to be leaning towards a “Hold” rating for Teradyne with an average target price of around $108.87.
These developments shed light on the positive sentiment surrounding Teradyne as hedge funds and institutional investors show confidence in its potential growth and stability within the market.