Zions Bancorporation National Association UT raised its stake in Teradyne, Inc. (NASDAQ:TER – Free Report) by 113.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321 shares of the company’s stock after buying an additional 1,235 shares during the period. Zions Bancorporation National Association UT’s holdings in Teradyne were worth $1,123,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Teradyne by 12.8% during the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock worth $342,000 after buying an additional 468 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Teradyne during the 1st quarter valued at $297,000. Cresset Asset Management LLC boosted its holdings in shares of Teradyne by 11.6% during the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock valued at $608,000 after acquiring an additional 702 shares in the last quarter. NewEdge Advisors LLC grew its position in Teradyne by 467.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock worth $306,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Teradyne by 5.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock worth $6,755,000 after acquiring an additional 3,651 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TER shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $465.00 target price on shares of Teradyne in a report on Tuesday, July 28th. Susquehanna boosted their price target on Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a report on Tuesday, June 30th. Cantor Fitzgerald restated an “overweight” rating and set a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. Morgan Stanley upped their price objective on Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Zacks Research upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $396.80.
Insider Activity
In other news, insider Shannon John Poulin sold 656 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the sale, the insider owned 15,722 shares of the company’s stock, valued at approximately $5,581,310. This represents a 4.01% decrease in their ownership of the stock. The sale 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 4,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares of the company’s stock, valued at $50,962,424.10. This trade represents a 3.21% 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. In the last three months, insiders sold 5,664 shares of company stock valued at $2,273,133. Insiders own 0.19% of the company’s stock.
Teradyne Stock Up 2.0%
NASDAQ TER opened at $418.79 on Friday. The company has a market capitalization of $65.47 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 0.83 and a beta of 1.78. Teradyne, Inc. has a twelve month low of $106.30 and a twelve month high of $487.91. The stock has a fifty day simple moving average of $384.26 and a 200 day simple moving average of $348.39.
Teradyne (NASDAQ:TER – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.38. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.Teradyne’s revenue for the quarter was up 103.9% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. Research analysts expect that Teradyne, Inc. will post 9.1 earnings per share for the current fiscal year.
About Teradyne
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.
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