Saudi Central Bank Buys 5,178 Shares of Teradyne, Inc. $TER

Key Points

• Saudi Central Bank increased its Teradyne stake by 89.6% in the second quarter, purchasing 5,178 additional shares and bringing its holdings to 10,959 shares valued at approximately $5.3 million. Institutional investors collectively own 99.77% of TER.
• Analyst sentiment remains positive but mixed: Teradyne has a “Moderate Buy” consensus rating and an average price target of $396.80, with targets ranging from $420 to $550.
• Teradyne reported strong quarterly results, with adjusted earnings of $2.47 per share and revenue of $1.33 billion, up 103.9% year over year and exceeding analyst expectations. The company also declared a quarterly dividend of $0.13 per share.

Saudi Central Bank increased its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 89.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,959 shares of the company's stock after purchasing an additional 5,178 shares during the quarter. Saudi Central Bank's holdings in Teradyne were worth $5,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TER. Integrated Wealth Concepts LLC grew its holdings in Teradyne by 12.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock valued at $342,000 after buying an additional 468 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Teradyne in the first quarter worth about $297,000. Cresset Asset Management LLC boosted its position in shares of Teradyne by 11.6% in the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock valued at $608,000 after acquiring an additional 702 shares during the period. NewEdge Advisors LLC boosted its position in shares of Teradyne by 467.1% in the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock valued at $306,000 after acquiring an additional 2,807 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Teradyne by 5.1% in the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock valued at $6,755,000 after acquiring an additional 3,651 shares during the period. 99.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on TER shares. Weiss Ratings lowered shares of Teradyne from a "buy (b)" rating to a "hold (c+)" rating in a report on Thursday. Evercore restated an "outperform" rating and set a $420.00 price target on shares of Teradyne in a research report on Thursday, July 30th. Wall Street Zen downgraded Teradyne from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Zacks Research upgraded Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $396.80.

Insider Activity at Teradyne

In other Teradyne news, CEO Gregory Smith sold 4,000 shares of Teradyne stock in a transaction that occurred on Monday, August 17th. The shares were 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 of the company's stock, valued at approximately $47,810,375. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company's stock.

Teradyne Stock Performance

TER opened at $357.03 on Monday. The stock has a 50-day moving average price of $370.59 and a 200-day moving average price of $358.35. Teradyne, Inc. has a 12-month low of $109.56 and a 12-month high of $487.91. The stock has a market capitalization of $55.82 billion, a P/E ratio of 48.98, a PEG ratio of 0.72 and a beta of 1.78.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share 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 analysts' expectations of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.Teradyne's revenue for the quarter was up 103.9% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. On average, equities research analysts predict that Teradyne, Inc. will post 9.1 EPS for the current year.

Teradyne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, September 4th. Teradyne's dividend payout ratio (DPR) is presently 7.13%.

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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