Great Lakes Advisors LLC Takes $4.04 Million Position in Teradyne, Inc. $TER

Key Points

• Great Lakes Advisors acquired 8,355 Teradyne shares worth approximately $4.04 million during the second quarter. Institutional investors collectively own 99.77% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $396.80; Susquehanna raised its target to $550.
• Teradyne reported quarterly EPS of $2.47 versus expectations of $2.09, while revenue rose 103.9% year over year to $1.33 billion. CEO Gregory Stephen Smith separately sold 4,000 shares under a pre-arranged trading plan.

Great Lakes Advisors LLC bought a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 8,355 shares of the company's stock, valued at approximately $4,042,000.

Other hedge funds have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in Teradyne by 12.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock worth $342,000 after purchasing an additional 468 shares during the period. Caxton Associates LLP purchased a new position in shares of Teradyne in the first quarter worth $297,000. Cresset Asset Management LLC raised its holdings in Teradyne by 11.6% during the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock valued at $608,000 after buying an additional 702 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Teradyne by 467.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock valued at $306,000 after buying an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Teradyne by 5.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock valued at $6,755,000 after buying an additional 3,651 shares during the last quarter. 99.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the sale, the chief executive officer owned 112,495 shares in the company, valued at approximately $47,810,375. The trade was a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Susquehanna increased their target price on shares of Teradyne from $415.00 to $550.00 and gave the stock a "positive" rating in a report on Tuesday, June 30th. Stifel Nicolaus raised their target price on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Evercore restated an "outperform" rating and set a $420.00 price target on shares of Teradyne in a report on Thursday, July 30th. Finally, Citigroup increased their price objective on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One 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. Based on data from MarketBeat, Teradyne presently has a consensus rating of "Moderate Buy" and an average target price of $396.80.

Teradyne Price Performance

TER stock opened at $383.15 on Friday. Teradyne, Inc. has a 1 year low of $107.82 and a 1 year high of $487.91. The firm has a 50-day moving average of $387.01 and a 200 day moving average of $353.63. The company has a market cap of $59.90 billion, a P/E ratio of 52.56, a PEG ratio of 0.77 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last released its 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 during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. On average, equities research analysts expect that Teradyne, Inc. will post 9.1 earnings per share for the current fiscal 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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