179,932 Shares in Teradyne, Inc. $TER Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 179,932 Teradyne shares valued at approximately $87.1 million, while institutional investors collectively own 99.77% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $396.80; individual targets range as high as $550.
• Teradyne reported strong quarterly results, including $2.47 in EPS versus $2.09 expected and $1.33 billion in revenue, up 103.9% year over year. Shares opened at $375.74, while the CEO separately sold $1.7 million worth of stock under a pre-arranged trading plan.

Bank of Nova Scotia bought a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 179,932 shares of the company's stock, valued at approximately $87,061,000. Bank of Nova Scotia owned approximately 0.12% of Teradyne at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TER. BlackRock Inc. purchased a new position in Teradyne in the second quarter valued at about $9,404,408,000. Andar Capital Management HK Ltd bought a new position in shares of Teradyne during the 2nd quarter worth approximately $37,800,000. State Street Corp raised its stake in shares of Teradyne by 0.9% during the 4th 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 in the last quarter. Ameriprise Financial Inc. lifted its position in Teradyne by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company's stock valued at $442,413,000 after acquiring an additional 143,058 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Teradyne by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company's stock valued at $813,640,000 after acquiring an additional 659,273 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective for the company in a research report on Thursday, April 30th. Citigroup upped their target price on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Bank of America increased their price target on Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $550.00 price objective on shares of Teradyne in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $396.80.

Teradyne Stock Performance

Shares of TER opened at $375.74 on Friday. The stock has a 50-day moving average of $386.46 and a two-hundred day moving average of $353.78. The stock has a market cap of $58.74 billion, a P/E ratio of 51.54, a P/E/G ratio of 0.76 and a beta of 1.78. Teradyne, Inc. has a one year low of $109.56 and a one year high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The company's revenue was up 103.9% on a year-over-year basis. Analysts predict that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer owned 112,495 shares in the company, valued at approximately $47,810,375. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Company 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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