Parkway Wealth Management Group LLC Invests $3.23 Million in Teradyne, Inc. $TER

Key Points

• Parkway Wealth Management Group initiated a new position in Teradyne, buying 10,894 shares valued at about $3.23 million in the first quarter.
• Several analysts turned more bullish on Teradyne, with multiple firms raising price targets; the stock now carries a Moderate Buy consensus and an average target price of $363.87.
• Teradyne posted strong quarterly results, beating earnings and revenue expectations, while also increasing its quarterly dividend from $0.12 to $0.13 per share.

Parkway Wealth Management Group LLC bought a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,894 shares of the company's stock, valued at approximately $3,230,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. lifted its position in Teradyne by 1.8% in the fourth quarter. UMB Bank n.a. now owns 2,293 shares of the company's stock valued at $444,000 after purchasing an additional 40 shares during the period. Stephens Inc. AR boosted its holdings in Teradyne by 1.2% in the 4th quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock valued at $645,000 after purchasing an additional 41 shares in the last quarter. Sapient Capital LLC increased its position in Teradyne by 1.5% during the 4th quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock worth $560,000 after purchasing an additional 43 shares during the period. Truvestments Capital LLC raised its stake in shares of Teradyne by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 1,440 shares of the company's stock worth $279,000 after buying an additional 53 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Teradyne by 2.1% during the 4th quarter. IFP Advisors Inc now owns 2,731 shares of the company's stock worth $529,000 after buying an additional 57 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TER. Robert W. Baird raised their price target on Teradyne from $350.00 to $446.00 and gave the company an "outperform" rating in a report on Tuesday. Stifel Nicolaus increased their price objective on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Susquehanna raised their target price on Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a report on Thursday, April 9th. Morgan Stanley set a $387.00 price target on shares of Teradyne in a research note on Thursday, April 30th. Finally, Zacks Research upgraded shares of Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $363.87.

Insider Transactions at Teradyne

In other news, insider Shannon John Poulin sold 1,008 shares of Teradyne stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $345.37, for a total transaction of $348,132.96. Following the completion of the transaction, the insider owned 15,066 shares of the company's stock, valued at $5,203,344.42. The trade was a 6.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 8,597 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the completion of the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,941 shares of company stock valued at $5,444,112 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Teradyne Price Performance

TER opened at $471.96 on Friday. The stock has a market cap of $73.88 billion, a P/E ratio of 87.40, a P/E/G ratio of 1.23 and a beta of 1.79. The stock's 50 day simple moving average is $380.63 and its 200 day simple moving average is $307.83. Teradyne, Inc. has a 1-year low of $88.60 and a 1-year high of $472.37.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.45. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.Teradyne's quarterly revenue was up 87.0% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Research analysts expect that Teradyne, Inc. will post 7.23 EPS for the current fiscal year.

Teradyne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a $0.13 dividend. This is an increase from Teradyne's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, May 21st. Teradyne's dividend payout ratio (DPR) is 9.63%.

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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