Insight Wealth Strategies LLC Invests $7.83 Million in Teradyne, Inc. $TER

Key Points

• Insight Wealth Strategies LLC initiated a $7.83 million position in Teradyne during the second quarter by purchasing 16,174 shares. Institutional investors and hedge funds collectively own 99.77% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $396.80; several firms recently raised their targets, including Bank of America to $525.
• Teradyne exceeded quarterly expectations, reporting $2.47 in earnings per share versus a $2.09 estimate and $1.33 billion in revenue, up 103.9% year over year.

Insight Wealth Strategies LLC bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,174 shares of the company's stock, valued at approximately $7,826,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TER. Integrated Wealth Concepts LLC boosted its holdings in shares of Teradyne by 12.8% during the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock worth $342,000 after acquiring an additional 468 shares during the period. Caxton Associates LLP acquired a new position in shares of Teradyne in the first quarter valued at approximately $297,000. Cresset Asset Management LLC increased its stake in shares of Teradyne by 11.6% during the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock worth $608,000 after purchasing an additional 702 shares during the period. NewEdge Advisors LLC increased its stake in shares of Teradyne by 467.1% during the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock worth $306,000 after purchasing an additional 2,807 shares during the period. Finally, Treasurer of the State of North Carolina lifted 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 worth $6,755,000 after purchasing an additional 3,651 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Analyst Upgrades and Downgrades

TER has been the subject of several recent research reports. Citigroup boosted their price target on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Robert W. Baird set a $420.00 target price on Teradyne in a report on Thursday, July 30th. Bank of America boosted their target price on shares of Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $396.80.

Teradyne Price Performance

Shares of NASDAQ:TER opened at $379.56 on Wednesday. The company has a market capitalization of $59.34 billion, a P/E ratio of 52.07, a P/E/G ratio of 0.74 and a beta of 1.78. Teradyne, Inc. has a 1 year low of $104.89 and a 1 year high of $487.91. The business's 50 day simple moving average is $383.11 and its 200 day simple moving average is $345.39.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.38. The firm 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 company's quarterly revenue was up 103.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. On average, sell-side analysts anticipate that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 8,597 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $345.37, for a total transaction of $348,132.96. Following the sale, the insider owned 15,066 shares in the company, valued at $5,203,344.42. The trade was a 6.27% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 14,261 shares of company stock worth $5,187,344 in the last 90 days. 0.19% of the stock is owned by company insiders.

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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