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What Makes Teradyne (TER) an Attractive Investment?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 9.80% (gross) and 9.53% (net) compared to 12.59% for the Russell 2500™ Growth Index. The recent market rally can be attributed to central banks pausing their rate hikes, as well as speculation about a possible shift towards monetary easing. Additionally, concerns about limited access to skilled workers and wage inflation reduction also played a role. Also, style factors had only a minimal impact on returns this quarter, except for Beta and U.S. Volatility. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Small/Mid Cap Growth Strategy featured stocks like Teradyne, Inc. (NASDAQ:TER) in its Q4 2023 investor letter. Headquartered in North Reading, Massachusetts, Teradyne, Inc. (NASDAQ:TER) designs, develops, manufactures, and sells automated test systems and robotics products. On April 3, 2024, Teradyne, Inc. (NASDAQ:TER) stock closed at $108.85 per share. One-month return of Teradyne, Inc. (NASDAQ:TER) was 0.26%, and its shares gained 9.85% of their value over the last 52 weeks. Teradyne, Inc. (NASDAQ:TER) has a market capitalization of $16.651 billion.

TimesSquare Capital U.S. Small/Mid Cap Growth Strategy stated the following regarding Teradyne, Inc. (NASDAQ:TER) in its fourth quarter 2023 investor letter:

"New to the portfolio was Teradyne, Inc. (NASDAQ:TER), which produces testing and measurement equipment for semiconductors and other complex electronic systems. Already a holding in our Mid Cap Growth Strategy, after providing lower-than-expected guidance for the final quarter of its fiscal year Teradyne’s price fell, and its market cap entered the buy range for this strategy. We believed that its chip testing volumes reached a low point and were poised to recover. Since we started buying, Teradyne’s shares rallied 30% for the remainder of the quarter."

A robotic arm placing a semiconductor chip on a test contactor.


Teradyne, Inc. (NASDAQ:TER) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Teradyne, Inc. (NASDAQ:TER) was held by 33 hedge fund portfolios, down from 38 in the previous quarter, according to our database.

We discussed Teradyne, Inc. (NASDAQ:TER) in another article and shared the list of best semiconductor stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.