Amundi Sells 198,109 Shares of Teradyne, Inc. $TER

Key Points

• Amundi reduced its Teradyne stake by 14.2%, selling 198,109 shares and retaining 1.20 million shares worth approximately $581 million. Institutional investors collectively own 99.77% of the company.
• Analysts maintain a generally positive outlook, with Teradyne carrying a “Moderate Buy” consensus rating and an average price target of $396.80, despite some recent downgrades to “Hold.”
• Teradyne reported strong quarterly results, posting $2.47 in EPS and $1.33 billion in revenue, with revenue rising 103.9% year over year. The company also declared a quarterly dividend of $0.13 per share.

Amundi lowered its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,200,724 shares of the company's stock after selling 198,109 shares during the period. Amundi owned 0.77% of Teradyne worth $580,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Leeward Financial Partners LLC purchased a new position in shares of Teradyne in the second quarter worth $3,735,000. Legal & General Group Plc purchased a new stake in shares of Teradyne during the second quarter valued at $656,058,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Teradyne in the 2nd quarter worth about $4,826,000. Zweig DiMenna Associates LLC increased its holdings in Teradyne by 10.0% in the 4th quarter. Zweig DiMenna Associates LLC now owns 80,629 shares of the company's stock worth $15,607,000 after buying an additional 7,300 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in Teradyne in the 4th quarter worth about $671,000. Hedge funds and other institutional investors own 99.77% of the company's stock.

Wall Street Analysts Forecast Growth

TER has been the topic of several research analyst reports. Robert W. Baird restated a "neutral" rating and set a $420.00 target price on shares of Teradyne in a research note on Friday, August 21st. UBS Group boosted their price objective on shares of Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a report on Monday, July 20th. Wall Street Zen downgraded shares of Teradyne from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings cut shares of Teradyne from a "buy (b)" rating to a "hold (c+)" rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $550.00 price objective on shares of Teradyne in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $396.80.

Insider Buying and Selling

In related news, CEO Gregory Smith sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer directly owned 112,495 shares of the company's stock, valued at approximately $47,810,375. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company's stock.

Teradyne Stock Performance

NASDAQ TER opened at $357.03 on Monday. Teradyne, Inc. has a 12 month low of $109.56 and a 12 month high of $487.91. The stock has a market cap of $55.82 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 0.72 and a beta of 1.78. The company's 50 day moving average is $370.59 and its two-hundred day moving average is $358.35.

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

Teradyne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 4th. Teradyne's dividend payout ratio (DPR) is 7.13%.

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.

Want to see what other hedge funds are holding TER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teradyne, Inc. (NASDAQ:TER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source