19,318 Shares of Teradyne, Inc. $TER Purchased by McKinley Carter Wealth Services Inc.

Key Points

• McKinley Carter Wealth Services purchased 19,318 Teradyne shares worth approximately $7.75 million in the third quarter. Institutional investors collectively own 99.77% of the company, with Assenagon significantly increasing its position.
• Teradyne shares fell 5.3% to $325, while the stock remains valued at a 44.58 price-to-earnings ratio. The company reported quarterly revenue of $1.33 billion, up 103.9% year over year, and earnings of $2.47 per share, beating estimates.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $396.80. Teradyne also declared a quarterly dividend of $0.13 per share, representing a 0.2% annualized yield.

McKinley Carter Wealth Services Inc. bought a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,318 shares of the company's stock, valued at approximately $7,745,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Teradyne in the 2nd quarter valued at $9,404,408,000. Andar Capital Management HK Ltd acquired a new position in shares of Teradyne during the 2nd quarter worth about $37,800,000. Bank of America Corp DE acquired a new position in shares of Teradyne during the 2nd quarter worth about $842,822,000. Legal & General Group Plc bought a new position in shares of Teradyne in the 2nd quarter valued at about $656,058,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Teradyne by 2,171.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,074,459 shares of the company's stock valued at $430,761,000 after acquiring an additional 1,027,146 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Trading Down 5.3%

Shares of TER traded down $18.21 during midday trading on Friday, reaching $325.00. The stock had a trading volume of 3,202,187 shares, compared to its average volume of 2,563,680. The firm has a 50 day simple moving average of $380.05 and a 200-day simple moving average of $373.84. Teradyne, Inc. has a one year low of $135.83 and a one year high of $487.91. The firm has a market cap of $50.81 billion, a PE ratio of 44.58, a P/E/G ratio of 0.69 and a beta of 1.75.

Teradyne (NASDAQ:TER - Get Free Report) last released 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. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The company 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. Teradyne's revenue for the quarter was up 103.9% compared to the same quarter last year. As a group, research analysts forecast that Teradyne, Inc. will post 9.11 EPS for the current fiscal year.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, September 4th. Teradyne's payout ratio is 7.13%.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Smith sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $337.83, for a total value of $1,351,320.00. Following the sale, the chief executive officer owned 108,495 shares in the company, valued at $36,652,865.85. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on TER. Zacks Research cut Teradyne from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Wall Street Zen downgraded Teradyne from a "buy" rating to a "hold" rating in a research note on Monday, September 28th. Weiss Ratings raised Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 29th. Evercore reiterated an "outperform" rating and set a $420.00 price objective on shares of Teradyne in a research note on Thursday, July 30th. Finally, UBS Group upped their price objective on Teradyne from $440.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Teradyne currently has a consensus rating of "Moderate Buy" and an average price target of $396.80.

Teradyne Company Profile

Teradyne, Inc is a global provider of automated test equipment and industrial automation solutions. Founded in 1960 and headquartered in North Reading, Massachusetts, the company develops systems that help manufacturers test the performance, quality, and reliability of electronic products and components.

Teradyne's products include semiconductor test systems used to evaluate integrated circuits, memory devices, and other semiconductor components. The company also provides test solutions for wireless products, storage systems, and complex electronic systems, along with related software, services, and support.

Through its Industrial Automation segment, Teradyne offers collaborative robots from Universal Robots, autonomous mobile robots from Mobile Industrial Robots, and robotic arms and systems for manufacturing and other industrial applications.

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