Ascentis Wealth Management LLC Has $3.28 Million Position in Teradyne, Inc. $TER

Key Points

• Ascentis Wealth Management increased its Teradyne stake by 48,278.6% in the second quarter, bringing its holdings to 6,773 shares worth approximately $3.28 million. Institutional investors collectively own 99.77% of Teradyne.
• Analysts remain broadly bullish, with one Strong Buy, twelve Buy and three Hold ratings. The stock has a “Moderate Buy” consensus and a $396.80 average price target, though several firms have issued targets as high as $550.
• Teradyne reported quarterly earnings of $2.47 per share, beating estimates by $0.38, while revenue rose 103.9% year over year to $1.33 billion. Insiders sold 5,664 shares worth $2.27 million over the past 90 days, primarily through pre-arranged plans.

Ascentis Wealth Management LLC grew its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 48,278.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,773 shares of the company's stock after acquiring an additional 6,759 shares during the period. Ascentis Wealth Management LLC's holdings in Teradyne were worth $3,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Community Financial Services Group LLC acquired a new position in Teradyne in the 2nd quarter worth about $29,000. Elevation Wealth Partners LLC grew its stake in shares of Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock valued at $34,000 after buying an additional 66 shares in the last quarter. Hilltop National Bank acquired a new position in Teradyne in the second quarter worth approximately $41,000. McIlrath & Eck LLC acquired a new position in Teradyne in the first quarter worth approximately $30,000. Finally, Carolina Wealth Advisors LLC raised its position in Teradyne by 42.5% during the second quarter. Carolina Wealth Advisors LLC now owns 114 shares of the company's stock valued at $55,000 after acquiring an additional 34 shares in the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of analyst reports. UBS Group lifted their target price 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. Weiss Ratings upgraded shares of Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Susquehanna raised their price target on shares of Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a report on Tuesday, June 30th. Robert W. Baird set a $420.00 price objective on shares of Teradyne in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued 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, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $396.80.

Insider Buying and Selling

In other Teradyne news, insider Shannon John Poulin sold 656 shares of Teradyne stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the transaction, the insider directly owned 15,722 shares of the company's stock, valued at $5,581,310. The trade was a 4.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, CEO Gregory Stephen Smith sold 4,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 120,470 shares of the company's stock, valued at approximately $50,962,424.10. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,664 shares of company stock worth $2,273,133 in the last ninety days. Insiders own 0.19% of the company's stock.

Teradyne Stock Up 1.9%

Shares of Teradyne stock opened at $410.52 on Friday. Teradyne, Inc. has a 12-month low of $106.30 and a 12-month high of $487.91. The stock has a 50 day moving average price of $383.05 and a two-hundred day moving average price of $347.89. The stock has a market capitalization of $64.18 billion, a P/E ratio of 56.31, a PEG ratio of 0.81 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.38. The company 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. Sell-side analysts anticipate that Teradyne, Inc. will post 9.1 earnings per share for the current year.

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.

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