285,828 Shares in Teradyne, Inc. $TER Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• Oversea-Chinese Banking Corp. acquired 285,828 Teradyne shares worth approximately $138.3 million, making Teradyne its second-largest portfolio holding and representing about 0.18% of the company.
• Teradyne reported strong quarterly results, with revenue up 103.9% year over year to $1.33 billion and EPS of $2.47, exceeding analysts’ $2.09 estimate.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $396.80 target price, while Teradyne CEO Gregory Stephen Smith sold 4,000 shares under a pre-arranged trading plan.

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 285,828 shares of the company's stock, valued at approximately $138,295,000. Teradyne accounts for 3.0% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 2nd biggest position. OVERSEA CHINESE BANKING Corp Ltd owned about 0.18% of Teradyne at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Teradyne in the fourth quarter worth $28,000. Community Financial Services Group LLC acquired a new position in Teradyne in the 2nd quarter valued at $29,000. McIlrath & Eck LLC acquired a new position in Teradyne in the 1st quarter valued at $30,000. Elevation Wealth Partners LLC raised its holdings in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock worth $34,000 after acquiring an additional 66 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in Teradyne in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

Shares of TER stock opened at $383.15 on Friday. The firm has a fifty day moving average of $387.01 and a 200-day moving average of $353.63. The stock has a market cap of $59.90 billion, a price-to-earnings ratio of 52.56, a P/E/G ratio of 0.77 and a beta of 1.78. Teradyne, Inc. has a 52-week low of $107.82 and a 52-week high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.57 EPS. Teradyne's quarterly revenue was up 103.9% on a year-over-year basis. On average, sell-side analysts predict that Teradyne, Inc. will post 9.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price for the company in a research report on Thursday, April 30th. Zacks Research raised Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Stifel Nicolaus lifted their price objective on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Evercore reissued an "outperform" rating and set a $420.00 price objective on shares of Teradyne in a research report on Thursday, July 30th. Finally, Susquehanna increased their target price on Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $396.80.

Insider Buying and Selling at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 112,495 shares of the company's stock, valued at $47,810,375. This represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company's stock.

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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