LPL Financial LLC Grows Position in Teradyne, Inc. (NASDAQ:TER)

Key Points

• LPL Financial LLC increased its holdings in Teradyne, Inc. by 39.8% in Q1, owning 122,437 shares worth approximately $10.1 million.
• Teradyne's quarterly earnings topped expectations, reporting $0.57 EPS against a consensus estimate of $0.54, despite a 10.7% decline in revenue year-over-year.
• The company initiated a $1 billion stock buyback plan, signaling confidence in its stock valuation capabilities.

LPL Financial LLC boosted its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 39.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,437 shares of the company's stock after purchasing an additional 34,838 shares during the period. LPL Financial LLC owned 0.08% of Teradyne worth $10,113,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TER. DAVENPORT & Co LLC grew its stake in shares of Teradyne by 29.8% in the 1st quarter. DAVENPORT & Co LLC now owns 5,094 shares of the company's stock valued at $421,000 after purchasing an additional 1,170 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Teradyne by 56.0% in the 1st quarter. Park Avenue Securities LLC now owns 3,045 shares of the company's stock worth $252,000 after acquiring an additional 1,093 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Teradyne by 6.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,328 shares of the company's stock worth $357,000 after acquiring an additional 261 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Teradyne by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 68,612 shares of the company's stock worth $5,667,000 after acquiring an additional 3,589 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Teradyne by 306.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,661 shares of the company's stock worth $3,111,000 after buying an additional 28,406 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Up 0.9%

Shares of NASDAQ:TER traded up $1.01 during midday trading on Friday, reaching $107.47. 3,184,304 shares of the company were exchanged, compared to its average volume of 4,807,681. The business's fifty day moving average is $92.38 and its two-hundred day moving average is $91.47. Teradyne, Inc. has a one year low of $65.77 and a one year high of $144.16. The stock has a market cap of $17.10 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 2.25 and a beta of 1.72.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $651.80 million for the quarter, compared to the consensus estimate of $649.02 million. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. Teradyne's revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts expect that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne announced that its Board of Directors has approved a stock repurchase plan 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 plans are generally an indication that the company's management believes its stock is undervalued.

Insider Transactions at Teradyne

In other Teradyne news, CEO Gregory Stephen Smith sold 554 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $105.73, for a total transaction of $58,574.42. Following the transaction, the chief executive officer directly owned 97,547 shares in the company, valued at $10,313,644.31. This represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TER. The Goldman Sachs Group reissued a "sell" rating and issued a $85.00 price target on shares of Teradyne in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $102.00 price objective (up previously from $88.00) on shares of Teradyne in a research note on Thursday, July 17th. Cowen reiterated a "buy" rating on shares of Teradyne in a report on Wednesday, July 30th. Stifel Nicolaus increased their target price on Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, KeyCorp restated a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $114.44.

About Teradyne

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.