Northwestern Mutual Wealth Management Co. purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 31,069 shares of the company’s stock, valued at approximately $15,032,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Teradyne during the 2nd quarter valued at $9,404,408,000. Andar Capital Management HK Ltd purchased a new position in shares of Teradyne in the second quarter valued at about $37,800,000. State Street Corp boosted its stake in shares of Teradyne by 0.9% in the fourth quarter. State Street Corp now owns 7,078,635 shares of the company’s stock worth $1,370,141,000 after acquiring an additional 60,986 shares during the period. Ameriprise Financial Inc. grew its position in shares of Teradyne by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock worth $442,413,000 after purchasing an additional 143,058 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Teradyne by 18.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company’s stock valued at $813,640,000 after purchasing an additional 659,273 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Susquehanna upped their price target on Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research note on Tuesday, June 30th. Robert W. Baird reiterated a “neutral” rating and set a $420.00 price objective on shares of Teradyne in a research report on Friday. Weiss Ratings raised shares of Teradyne from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Morgan Stanley upped their target price on shares of Teradyne from $387.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $465.00 target price on shares of Teradyne in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.80.
Teradyne Trading Down 1.9%
Shares of NASDAQ TER opened at $375.74 on Friday. Teradyne, Inc. has a 12-month low of $109.56 and a 12-month high of $487.91. The firm’s 50-day moving average price is $386.46 and its 200-day moving average price is $353.78. The stock has a market capitalization of $58.74 billion, a price-to-earnings ratio of 51.54, a P/E/G ratio of 0.76 and a beta of 1.78.
Teradyne (NASDAQ:TER – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.38. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The firm’s revenue for the quarter was up 103.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts predict that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.
Insider Transactions at Teradyne
In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the completion of the transaction, the chief executive officer directly owned 112,495 shares of the company’s stock, valued at $47,810,375. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.
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.
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