Resona Asset Management Co. Ltd. Decreases Stake in Teradyne, Inc. $TER

Key Points

• Resona Asset Management reduced its Teradyne stake by 5.7% in the second quarter, selling 2,709 shares and retaining 45,209 shares valued at approximately $21.7 million. Institutional investors collectively own 99.77% of Teradyne.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $396.80; individual targets range from $390 to $550.
• Teradyne reported strong quarterly results, posting $2.47 in EPS and $1.33 billion in revenue, surpassing estimates and increasing revenue 103.9% year over year.

Resona Asset Management Co. Ltd. lessened its position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,209 shares of the company's stock after selling 2,709 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Teradyne were worth $21,682,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Teradyne in the 4th quarter valued at $28,000. Community Financial Services Group LLC acquired a new position in shares of Teradyne during the second quarter worth $29,000. McIlrath & Eck LLC acquired a new position in shares of Teradyne during the first quarter worth $30,000. Elevation Wealth Partners LLC increased its holdings in Teradyne by 1,320.0% in the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock valued at $34,000 after buying an additional 66 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Teradyne in the second quarter valued at $35,000. 99.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on TER shares. Weiss Ratings raised Teradyne from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. The Goldman Sachs Group reissued a "buy" rating and set a $465.00 target price on shares of Teradyne in a research report on Tuesday, July 28th. Citigroup boosted their target price on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Cantor Fitzgerald restated an "overweight" rating and set a $550.00 target price on shares of Teradyne in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus upped their price target on Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.80.

Insider Transactions at Teradyne

In related news, insider Shannon John Poulin sold 656 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 15,722 shares in the company, valued at $5,581,310. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,664 shares of company stock valued at $2,273,133. Insiders own 0.19% of the company's stock.

Teradyne Price Performance

Shares of TER opened at $410.52 on Friday. Teradyne, Inc. has a 1-year low of $106.30 and a 1-year high of $487.91. The stock has a market cap of $64.18 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.78. The firm has a fifty day moving average price of $383.05 and a 200 day moving average price of $347.89.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.93% and a net margin of 25.77%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company posted $0.57 earnings per share. The business's quarterly revenue was up 103.9% compared to the same quarter last year. As a group, equities analysts expect that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

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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