Ascentis Wealth Management LLC Acquires 3,522 Shares of Teradyne, Inc. $TER

Key Points

• Ascentis Wealth Management increased its Teradyne stake by 25,157.1% in the second quarter, acquiring 3,522 additional shares for a total of 3,536 shares valued at approximately $1.71 million. Institutional investors collectively own 99.77% of Teradyne.
• Analysts remain broadly bullish, with one Strong Buy, 12 Buy and three Hold ratings. Teradyne has a consensus target price of $396.80, with individual targets reaching as high as $500.
• Teradyne exceeded quarterly expectations, reporting $2.47 in earnings per share and $1.33 billion in revenue, while revenue surged 103.9% year over year. The stock opened at $410.52, compared with a 52-week range of $106.30 to $487.91.

Ascentis Wealth Management LLC lifted its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 25,157.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,536 shares of the company's stock after buying an additional 3,522 shares during the period. Ascentis Wealth Management LLC's holdings in Teradyne were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Teradyne during the 4th quarter valued at $28,000. Community Financial Services Group LLC bought a new stake in Teradyne during the second quarter worth about $29,000. McIlrath & Eck LLC bought a new stake in Teradyne during the first quarter worth about $30,000. Elevation Wealth Partners LLC grew its stake in Teradyne by 1,320.0% during the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock worth $34,000 after buying an additional 66 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Teradyne in the 2nd quarter valued at about $35,000. Institutional investors own 99.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TER. The Goldman Sachs Group restated a "buy" rating and issued a $465.00 target price on shares of Teradyne in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. UBS Group lifted their price objective on shares of Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Robert W. Baird set a $420.00 price objective on shares of Teradyne in a research report on Thursday, July 30th. Finally, Citigroup upped their target price on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Teradyne has an average rating of "Moderate Buy" and a consensus target price of $396.80.

Teradyne Price Performance

TER stock opened at $410.52 on Friday. The stock has a market cap of $64.18 billion, a price-to-earnings ratio of 56.31, a P/E/G ratio of 0.81 and a beta of 1.78. The company has a 50 day simple moving average of $383.05 and a 200 day simple moving average of $347.89. Teradyne, Inc. has a 1 year low of $106.30 and a 1 year high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The company's quarterly revenue was up 103.9% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. On average, equities research analysts anticipate that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the completion of the transaction, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $345.37, for a total value of $348,132.96. Following the sale, the insider directly owned 15,066 shares in the company, valued at approximately $5,203,344.42. This trade represents a 6.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,664 shares of company stock valued at $2,273,133 over the last quarter. 0.19% of the stock is 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.

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