First Trust Advisors LP Has $40.90 Million Position in Teradyne, Inc. $TER

Key Points

• First Trust Advisors LP reduced its Teradyne stake by 58.5% in the first quarter, selling 194,331 shares and retaining 137,967 shares valued at approximately $40.9 million. Institutional investors and hedge funds collectively own 99.77% of the company.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates by $0.45 and revenue of $1.28 billion rising 87% year over year. The company also increased its quarterly dividend to $0.13 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $394.53, although company insiders sold 14,941 shares worth about $5.44 million during the quarter.

First Trust Advisors LP lessened its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,967 shares of the company's stock after selling 194,331 shares during the quarter. First Trust Advisors LP owned approximately 0.09% of Teradyne worth $40,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Teradyne by 1.8% during 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 in the last quarter. Stephens Inc. AR boosted its holdings in Teradyne by 1.2% in the fourth quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock worth $645,000 after purchasing an additional 41 shares in the last quarter. Sapient Capital LLC increased its position in Teradyne by 1.5% during the fourth quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock worth $560,000 after buying an additional 43 shares during the last quarter. Whittier Trust Co. increased its position in Teradyne by 5.5% during the first quarter. Whittier Trust Co. now owns 827 shares of the company's stock worth $261,000 after buying an additional 43 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in Teradyne by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 1,440 shares of the company's stock valued at $279,000 after buying an additional 53 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the completion of the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at $42,192,840.60. This represents a 6.46% decrease in their position. The transaction 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. Also, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the completion of the sale, the vice president owned 7,665 shares in the company, valued at $2,894,304. This represents a 8.15% 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. Over the last quarter, insiders have sold 14,941 shares of company stock valued at $5,444,112. 0.19% of the stock is owned by company insiders.

Teradyne Stock Performance

NASDAQ TER opened at $334.77 on Tuesday. The stock has a 50-day simple moving average of $382.69 and a 200 day simple moving average of $334.39. Teradyne, Inc. has a twelve month low of $89.18 and a twelve month high of $487.91. The stock has a market capitalization of $52.40 billion, a PE ratio of 61.99, a P/E/G ratio of 1.01 and a beta of 1.74.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.45. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company's revenue was up 87.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, equities research analysts forecast that Teradyne, Inc. will post 7.2 EPS for the current fiscal year.

Teradyne Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.2%. This is an increase from Teradyne's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 21st. Teradyne's payout ratio is presently 9.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TER. Bank of America upped their price target on Teradyne from $365.00 to $525.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Robert W. Baird boosted their target price on Teradyne from $350.00 to $446.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Weiss Ratings cut Teradyne from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Evercore set a $370.00 price target on Teradyne in a report on Thursday, April 30th. Finally, Citigroup lifted their price target on shares of Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.53.

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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