Ironwood Investment Counsel LLC Has $2.81 Million Holdings in Teradyne, Inc. (NASDAQ:TER)

Key Points

• Ironwood Investment Counsel LLC reduced its stake in Teradyne, Inc. by 23.0% in Q1, owning 33,987 shares valued at $2.8 million post-sale.
• Institutional ownership of Teradyne stands at an impressive 99.77%, indicating strong confidence from large investors.
• Teradyne recently reported $0.57 earnings per share, surpassing analysts' expectations, amidst a 10.7% decline in revenue year-over-year.

Ironwood Investment Counsel LLC lessened its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 23.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 33,987 shares of the company's stock after selling 10,151 shares during the quarter. Ironwood Investment Counsel LLC's holdings in Teradyne were worth $2,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC raised its holdings in shares of Teradyne by 50.7% in the 1st quarter. Headlands Technologies LLC now owns 11,105 shares of the company's stock worth $917,000 after purchasing an additional 3,738 shares in the last quarter. Deutsche Bank AG grew its position in Teradyne by 36.3% in the first quarter. Deutsche Bank AG now owns 659,317 shares of the company's stock worth $54,460,000 after buying an additional 175,534 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Teradyne by 99.5% in the first quarter. Chicago Partners Investment Group LLC now owns 3,657 shares of the company's stock valued at $275,000 after buying an additional 1,824 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Teradyne by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,014,741 shares of the company's stock valued at $83,818,000 after acquiring an additional 12,664 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Teradyne during the 1st quarter worth $490,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Analyst Upgrades and Downgrades

TER has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $102.00 price target (up previously from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. Susquehanna reduced their price objective on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. UBS Group reissued a "buy" rating and issued a $130.00 target price (up from $120.00) on shares of Teradyne in a research report on Thursday, July 31st. Cantor Fitzgerald set a $105.00 price target on shares of Teradyne and gave the company an "overweight" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Teradyne from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $114.44.

Teradyne Stock Up 0.9%

Shares of NASDAQ:TER traded up $1.01 during trading on Friday, reaching $107.47. 3,184,304 shares of the company traded hands, compared to its average volume of 4,835,940. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $144.16. The firm has a market capitalization of $17.10 billion, a PE ratio of 37.19, a PEG ratio of 2.23 and a beta of 1.72. The company's 50 day moving average is $92.38 and its two-hundred day moving average is $92.05.

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

Teradyne announced that its Board of Directors has authorized a stock repurchase program on Monday, April 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $105.73, for a total transaction of $58,574.42. Following the completion of the transaction, the chief executive officer directly owned 97,547 shares in the company, valued at $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 available at this link. 0.16% of the stock is owned by company insiders.

Teradyne Profile

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.