Plato Investment Management Ltd Takes Position in Teradyne, Inc. $TER

Key Points

• Plato Investment Management initiated a Teradyne position of 6,038 shares valued at approximately $2.9 million during the second quarter. Institutional investors collectively own 99.77% of the company.
• Teradyne reported strong quarterly results, with EPS of $2.47 exceeding estimates of $2.09 and revenue of $1.33 billion rising 103.9% year over year. Shares opened at $418.79, near the upper end of their $106.30–$487.91 one-year range.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $396.80; recent targets range as high as $550. Company insiders, including the CEO, sold shares under pre-arranged trading plans in the past 90 days.

Plato Investment Management Ltd purchased a new stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,038 shares of the company's stock, valued at approximately $2,904,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gouws Capital LLC boosted its stake in Teradyne by 96.0% in the fourth quarter. Gouws Capital LLC now owns 15,323 shares of the company's stock valued at $2,966,000 after acquiring an additional 7,505 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Teradyne by 81.3% during the 4th quarter. Merit Financial Group LLC now owns 6,659 shares of the company's stock worth $1,289,000 after purchasing an additional 2,986 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in Teradyne by 56.0% in the fourth quarter. Wealthfront Advisers LLC now owns 29,336 shares of the company's stock valued at $5,678,000 after purchasing an additional 10,526 shares during the last quarter. Lecap Asset Management Ltd. lifted its stake in Teradyne by 88.5% in the fourth quarter. Lecap Asset Management Ltd. now owns 8,392 shares of the company's stock valued at $1,624,000 after purchasing an additional 3,941 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its holdings in Teradyne by 10.0% during the fourth quarter. Zweig DiMenna Associates LLC now owns 80,629 shares of the company's stock valued at $15,607,000 after purchasing an additional 7,300 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teradyne

In other Teradyne news, insider Shannon John Poulin sold 1,008 shares of Teradyne stock in a transaction dated 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 Securities & Exchange Commission, which is available 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 dated Monday, June 15th. The shares were sold at an average price of $423.03, for a total value of $1,692,120.00. Following the sale, the chief executive officer 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 ninety days. Insiders own 0.19% of the company's stock.

Teradyne Price Performance

Teradyne stock opened at $418.79 on Monday. The firm has a market capitalization of $65.47 billion, a P/E ratio of 57.45, a PEG ratio of 0.85 and a beta of 1.78. Teradyne, Inc. has a one year low of $106.30 and a one year high of $487.91. The business has a fifty day moving average price of $384.26 and a 200-day moving average price of $349.21.

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

Analysts Set New Price Targets

A number of research firms have issued reports on TER. Cantor Fitzgerald reissued an "overweight" rating and issued a $550.00 target price on shares of Teradyne in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upgraded Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price target for the company in a research note on Thursday, April 30th. Citigroup lifted their price objective on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Robert W. Baird set a $420.00 price objective on Teradyne in a research note on Thursday, July 30th. Finally, Morgan Stanley upped their price objective on shares of Teradyne from $387.00 to $397.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $396.80.

Teradyne Profile

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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