K.J. Harrison & Partners Inc Buys Shares of 3,830 Teradyne, Inc. $TER

Key Points

• K.J. Harrison & Partners initiated a Teradyne position by purchasing 3,830 shares valued at approximately $1.85 million. Institutional investors and hedge funds collectively own 99.77% of the company.
• Teradyne reported strong quarterly results, with EPS of $2.47 beating estimates of $2.09 and revenue of $1.33 billion exceeding forecasts. Revenue increased 103.9% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $396.80, despite TER trading at $443.14.

K.J. Harrison & Partners Inc bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,830 shares of the company's stock, valued at approximately $1,853,000.

Other institutional investors also recently modified their holdings of the company. Community Financial Services Group LLC bought a new position in shares of Teradyne in the 2nd quarter valued at $29,000. Elevation Wealth Partners LLC grew its position in Teradyne by 1,320.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock worth $34,000 after acquiring an additional 66 shares during the last quarter. Mcdonald Partners LLC acquired a new position in Teradyne in the 2nd quarter worth about $36,000. Hilltop National Bank acquired a new position in Teradyne in the 2nd quarter worth about $41,000. Finally, McIlrath & Eck LLC bought a new position in Teradyne in the first quarter valued at about $30,000. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Trading Up 5.8%

NASDAQ TER opened at $443.14 on Tuesday. The business's 50-day moving average price is $385.63 and its two-hundred day moving average price is $350.65. Teradyne, Inc. has a 12 month low of $106.30 and a 12 month high of $487.91. The firm has a market capitalization of $69.28 billion, a PE ratio of 60.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.38. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The firm's revenue was up 103.9% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. As a group, analysts forecast that Teradyne, Inc. will post 9.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teradyne news, insider Shannon John Poulin sold 656 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total transaction of $232,880.00. Following the completion of the transaction, the insider owned 15,722 shares in the company, valued at approximately $5,581,310. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, CEO Gregory Stephen Smith sold 4,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the sale, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. This represents a 3.21% 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. Insiders have sold a total of 5,664 shares of company stock valued at $2,273,133 in the last three months. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on TER shares. Cantor Fitzgerald reissued an "overweight" rating and set a $550.00 price target on shares of Teradyne in a research note on Wednesday, July 29th. Evercore reiterated an "outperform" rating and issued a $420.00 price objective on shares of Teradyne in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. The Goldman Sachs Group reissued a "buy" rating and set a $465.00 target price on shares of Teradyne in a report on Tuesday, July 28th. Finally, UBS Group upped their price target on shares of Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $396.80.

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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