Banco Santander S.A. Invests $3.71 Million in Teradyne, Inc. $TER

Key Points

• Banco Santander acquired a new $3.71 million stake in Teradyne during the second quarter, purchasing 7,671 shares. Institutional investors collectively own 99.77% of Teradyne’s outstanding stock.
• Analysts remain broadly bullish, with one Strong Buy, twelve Buy and three Hold ratings. The stock has an average price target of $396.80, while several firms raised targets as high as $550.
• Teradyne reported strong quarterly results, including $2.47 in EPS versus a $2.09 estimate and $1.33 billion in revenue, up 103.9% year over year. Shares opened at $410.52, with a market capitalization of approximately $64.18 billion.

Banco Santander S.A. purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,671 shares of the company's stock, valued at approximately $3,712,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Carolina Wealth Advisors LLC grew its holdings in shares of Teradyne by 42.5% during the second quarter. Carolina Wealth Advisors LLC now owns 114 shares of the company's stock worth $55,000 after purchasing an additional 34 shares during the last quarter. Vestor Capital LLC lifted its holdings in shares of Teradyne by 15.4% in the 1st quarter. Vestor Capital LLC now owns 285 shares of the company's stock valued at $85,000 after purchasing an additional 38 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Teradyne by 1.8% in the 4th quarter. UMB Bank n.a. now owns 2,293 shares of the company's stock valued at $444,000 after purchasing an additional 40 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Teradyne by 1.2% in the 4th quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock valued at $645,000 after purchasing an additional 41 shares during the period. Finally, Sapient Capital LLC boosted its position in shares of Teradyne by 1.5% in the 4th quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock valued at $560,000 after purchasing an additional 43 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TER has been the topic of a number of research reports. UBS Group raised their price target on Teradyne from $440.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Evercore reiterated an "outperform" rating and issued a $420.00 price objective on shares of Teradyne in a research note on Thursday, July 30th. Zacks Research raised Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Susquehanna raised their target price on shares of Teradyne from $415.00 to $550.00 and gave the stock a "positive" rating in a research report on Tuesday, June 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $550.00 target price on shares of Teradyne in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $396.80.

Teradyne Stock Performance

Shares of TER opened at $410.52 on Friday. Teradyne, Inc. has a fifty-two week low of $106.30 and a fifty-two week high of $487.91. The firm has a 50-day simple moving average of $383.05 and a 200-day simple moving average of $347.89. The company has a market capitalization of $64.18 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (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 analysts' expectations of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The firm's revenue for the quarter was up 103.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities research analysts forecast that Teradyne, Inc. will post 9.1 EPS for the current year.

Insider Activity at Teradyne

In related news, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $345.37, for a total transaction of $348,132.96. Following the completion of the sale, the insider directly owned 15,066 shares of the company's stock, valued at $5,203,344.42. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 sale, the chief executive officer directly owned 120,470 shares of the company's stock, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last quarter. 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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