Bank of New York Mellon Corp Takes $459.01 Million Position in Teradyne, Inc. $TER

Bank of New York Mellon Corp acquired a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 948,685 shares of the company's stock, valued at approximately $459,012,000. Bank of New York Mellon Corp owned 0.61% of Teradyne as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TER. Community Financial Services Group LLC bought a new stake in shares of Teradyne during the second quarter valued at about $29,000. 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 valued at $34,000 after acquiring an additional 66 shares in the last quarter. Mcdonald Partners LLC bought a new stake in Teradyne during the 2nd quarter worth approximately $36,000. Hilltop National Bank bought a new stake in Teradyne during the 2nd quarter worth approximately $41,000. Finally, McIlrath & Eck LLC purchased a new stake in Teradyne in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 99.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TER. UBS Group raised their price target on shares of Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a report on Monday, July 20th. Stifel Nicolaus upped their price target on shares of Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Citigroup boosted their target price on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Teradyne currently has a consensus rating of "Moderate Buy" and an average target price of $396.80.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen 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 transaction 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 ownership of the stock. The transaction was disclosed in a 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. Corporate insiders own 0.19% of the company's stock.

Teradyne Trading Down 1.9%

TER stock opened at $375.74 on Friday. The stock has a market capitalization of $58.74 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.77 and a beta of 1.78. Teradyne, Inc. has a 12-month low of $109.56 and a 12-month high of $487.91. The firm's 50-day moving average price is $386.46 and its two-hundred day moving average price is $353.78.

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

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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