Private Advisory Group LLC Invests $20.57 Million in Teradyne, Inc. $TER

Key Points

• Private Advisory Group LLC initiated a $20.57 million position in Teradyne during the second quarter, purchasing 42,504 shares. Institutional investors and hedge funds collectively own 99.77% of the company.
• Teradyne reported strong quarterly results, with EPS of $2.47 beating estimates by $0.38 and revenue of $1.33 billion exceeding forecasts. Revenue increased 103.9% year over year.
• Wall Street maintains a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $396.80, while Teradyne shares recently traded at $418.79. Insiders sold 5,664 shares worth approximately $2.27 million over the past three months.

Private Advisory Group LLC purchased a new position in Teradyne, Inc. (NASDAQ:TER - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,504 shares of the company's stock, valued at approximately $20,565,000. Teradyne makes up approximately 1.1% of Private Advisory Group LLC's portfolio, making the stock its 27th biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Andar Capital Management HK Ltd acquired a new stake in Teradyne during the 2nd quarter worth approximately $37,800,000. State Street Corp boosted its holdings in shares of Teradyne by 0.9% in the fourth quarter. State Street Corp now owns 7,078,635 shares of the company's stock valued at $1,370,141,000 after buying an additional 60,986 shares during the period. Ameriprise Financial Inc. increased its position in shares of Teradyne by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company's stock worth $442,413,000 after acquiring an additional 143,058 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Teradyne by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company's stock worth $813,640,000 after acquiring an additional 659,273 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Teradyne by 3.5% during the third quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock worth $407,322,000 after acquiring an additional 99,864 shares during the period. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Price Performance

Teradyne stock opened at $418.79 on Friday. The company has a market cap of $65.47 billion, a price-to-earnings ratio of 57.45, a P/E/G ratio of 0.85 and a beta of 1.78. The firm has a 50-day moving average of $384.26 and a 200-day moving average of $348.39. Teradyne, Inc. has a one year low of $106.30 and a one year high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results 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. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Teradyne's quarterly revenue was up 103.9% on a year-over-year basis. As a group, sell-side analysts expect that Teradyne, Inc. will post 9.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on TER. Stifel Nicolaus boosted their price objective on shares of Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $550.00 target price on shares of Teradyne in a report on Wednesday, July 29th. Citigroup lifted their price target on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Evercore restated an "outperform" rating and issued a $420.00 price target on shares of Teradyne in a report on Thursday, July 30th. Finally, Robert W. Baird set a $420.00 price objective on Teradyne in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Teradyne currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.80.

Insider Activity at Teradyne

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the business'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 transaction, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $355.00, for a total transaction of $232,880.00. Following the sale, the insider directly owned 15,722 shares in the company, valued at $5,581,310. This trade represents a 4.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 5,664 shares of company stock valued at $2,273,133. 0.19% of the stock is currently owned by insiders.

Teradyne Company 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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