First American Trust FSB Decreases Position in Teradyne, Inc. (NASDAQ:TER)

Key Points

• First American Trust FSB significantly reduced its stake in Teradyne, Inc. by 93.1%, selling 67,485 shares and now holding only 4,975 shares valued at $411,000 as of its latest SEC filing.
• Several institutional investors increased their positions in Teradyne, including Wellington Management Group LLP, which lifted its stake by 36.2% in the fourth quarter, now owning 14,554 shares valued at $1,833,000.
• Analyst ratings for Teradyne show mixed sentiments, with five analysts assigning a 'hold' rating, while Morgan Stanley upgraded its rating to 'equal weight' and raised the price target from $74.00 to $100.00.

First American Trust FSB decreased its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 93.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,975 shares of the company's stock after selling 67,485 shares during the period. First American Trust FSB's holdings in Teradyne were worth $411,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TER. Vanguard Group Inc. raised its stake in Teradyne by 2.5% during the first quarter. Vanguard Group Inc. now owns 20,922,231 shares of the company's stock worth $1,728,176,000 after acquiring an additional 516,332 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Teradyne by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 4,828,689 shares of the company's stock worth $608,025,000 after acquiring an additional 1,065,474 shares in the last quarter. Aspex Management HK Ltd increased its stake in shares of Teradyne by 35.5% in the fourth quarter. Aspex Management HK Ltd now owns 3,234,842 shares of the company's stock valued at $407,331,000 after buying an additional 847,409 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Teradyne by 4.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,957,049 shares of the company's stock valued at $244,252,000 after buying an additional 131,152 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Teradyne by 16.1% in the first quarter. Invesco Ltd. now owns 2,790,898 shares of the company's stock valued at $230,528,000 after buying an additional 387,705 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 554 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the completion of the sale, the chief executive officer owned 97,547 shares in the company, valued at approximately $10,313,644.31. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Teradyne Stock Performance

Shares of TER stock traded up $2.38 on Wednesday, reaching $114.01. The stock had a trading volume of 5,223,735 shares, compared to its average volume of 4,809,267. The stock has a market cap of $18.14 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 2.34 and a beta of 1.72. Teradyne, Inc. has a 1 year low of $65.77 and a 1 year high of $144.16. The company has a 50 day simple moving average of $94.12 and a 200 day simple moving average of $91.59.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The business had revenue of $651.80 million for the quarter, compared to the consensus estimate of $649.02 million. During the same period in the previous year, the business earned $0.86 earnings per share. The business's revenue was down 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne announced that its board has approved a share buyback plan on Monday, April 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on TER shares. Morgan Stanley raised Teradyne from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $74.00 to $100.00 in a report on Thursday, July 31st. Stifel Nicolaus boosted their target price on Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Teradyne from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group restated a "sell" rating and issued a $85.00 price target on shares of Teradyne in a research note on Wednesday, July 30th. Finally, Susquehanna decreased their price target on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $114.44.

About Teradyne

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.