OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 8,150 Teradyne, Inc. $TER

Key Points

• Oversea Chinese Banking Corp. bought 8,150 Teradyne shares worth approximately $3.94 million in the second quarter. Institutional investors collectively own 99.77% of the company.
• Analysts maintain a generally positive view, with Teradyne receiving a consensus rating of “Moderate Buy” and an average price target of $396.80; targets range as high as $550.
• Teradyne exceeded quarterly expectations, reporting $2.47 in EPS and $1.33 billion in revenue, with revenue up 103.9% year over year. CEO Gregory Stephen Smith separately sold 4,000 shares for $1.7 million under a pre-arranged trading plan.

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,150 shares of the company's stock, valued at approximately $3,939,000.

Several other hedge funds also recently made changes to their positions in TER. Caitong International Asset Management Co. Ltd bought a new stake in shares of Teradyne during the 4th quarter valued at $28,000. Community Financial Services Group LLC bought a new position in Teradyne in the 2nd quarter worth about $29,000. McIlrath & Eck LLC bought a new position in Teradyne in the 1st quarter worth about $30,000. Elevation Wealth Partners LLC grew its holdings in Teradyne by 1,320.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock valued at $34,000 after buying an additional 66 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Teradyne during the 2nd quarter valued at about $35,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Teradyne from $387.00 to $397.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Robert W. Baird set a $420.00 price objective on shares of Teradyne in a research note on Thursday, July 30th. Citigroup upped their target price on shares of Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $550.00 target price on shares of Teradyne in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus raised their price target on shares of Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Teradyne currently has an average rating of "Moderate Buy" and a consensus price target of $396.80.

Insider Activity

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the transaction, the chief executive officer directly owned 112,495 shares in the company, valued at approximately $47,810,375. This represents a 3.43% decrease in their position. The sale 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. Insiders own 0.19% of the company's stock.

Teradyne Stock Performance

Teradyne stock opened at $383.15 on Friday. The firm's fifty day moving average price is $387.01 and its 200-day moving average price is $353.63. The stock has a market cap of $59.90 billion, a P/E ratio of 52.56, a price-to-earnings-growth ratio of 0.77 and a beta of 1.78. Teradyne, Inc. has a fifty-two week low of $107.82 and a fifty-two week high of $487.91.

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