Citizens Financial Group Inc. RI purchased a new stake in Teradyne, Inc. (NASDAQ:TER – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,042 shares of the company’s stock, valued at approximately $2,440,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TER. Community Financial Services Group LLC bought a new stake in shares of Teradyne during the second quarter worth $29,000. Elevation Wealth Partners LLC lifted its position in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock valued at $34,000 after acquiring an additional 66 shares in the last quarter. Mcdonald Partners LLC bought a new stake in Teradyne in the 2nd quarter valued at $36,000. Hilltop National Bank acquired a new position in Teradyne in the 2nd quarter worth $41,000. Finally, McIlrath & Eck LLC acquired a new position in Teradyne in the 1st quarter worth $30,000. Institutional investors and hedge funds own 99.77% of the company’s stock.
Wall Street Analyst Weigh In
TER has been the topic of several recent research reports. Evercore reissued an “outperform” rating and issued a $420.00 price target on shares of Teradyne in a research note on Thursday, July 30th. Weiss Ratings raised Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Robert W. Baird set a $420.00 price objective on Teradyne in a research report on Thursday, July 30th. Morgan Stanley increased their price objective on Teradyne from $387.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $465.00 target price on shares of Teradyne in a research report on Tuesday, July 28th. One investment 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 company’s stock. According to data from MarketBeat.com, Teradyne currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.80.
Teradyne Trading Up 5.8%
Teradyne stock opened at $443.14 on Tuesday. The company has a market cap of $69.28 billion, a P/E ratio of 60.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.78. Teradyne, Inc. has a 1-year low of $106.30 and a 1-year high of $487.91. The company has a fifty day simple moving average of $385.63 and a 200 day simple moving average of $350.65.
Teradyne (NASDAQ:TER – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.38. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was up 103.9% compared to the same quarter last year. On average, equities research analysts forecast that Teradyne, Inc. will post 9.1 EPS for the current year.
Insider Transactions at Teradyne
In related news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the transaction, the chief executive officer directly owned 120,470 shares of the company’s stock, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of the firm’s stock in a transaction that occurred 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 approximately $5,581,310. This represents a 4.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 5,664 shares of company stock worth $2,273,133. 0.19% of the stock is owned by company insiders.
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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