Silver Oak Securities Incorporated Sells 2,318 Shares of Teradyne, Inc. $TER

Key Points

• Silver Oak Securities cut its Teradyne stake by 40.7% in the first quarter, selling 2,318 shares and leaving it with 3,380 shares valued at about $1.0 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates and revenue of $1.28 billion, up 87% from a year ago. The company also increased its quarterly dividend to $0.13 per share.
• Analyst sentiment remains upbeat: several firms raised price targets or upgraded the stock, and Wall Street’s consensus rating is currently Moderate Buy.

Silver Oak Securities Incorporated reduced its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 40.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,380 shares of the company's stock after selling 2,318 shares during the quarter. Silver Oak Securities Incorporated's holdings in Teradyne were worth $1,002,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TER. Fiduciary Alliance LLC bought a new stake in Teradyne in the 1st quarter worth approximately $167,000. Blue Trust Inc. grew its position in Teradyne by 94.4% during the first quarter. Blue Trust Inc. now owns 1,244 shares of the company's stock valued at $369,000 after acquiring an additional 604 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Teradyne during the first quarter worth approximately $246,000. OP Asset Management Ltd purchased a new position in shares of Teradyne during the first quarter worth approximately $4,645,000. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Teradyne by 89.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 5,101 shares of the company's stock worth $1,512,000 after acquiring an additional 2,407 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Up 10.5%

Shares of NASDAQ TER opened at $471.96 on Friday. Teradyne, Inc. has a 12 month low of $88.60 and a 12 month high of $472.37. The firm has a market capitalization of $73.88 billion, a PE ratio of 87.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.79. The firm has a fifty day simple moving average of $380.63 and a two-hundred day simple moving average of $307.83.

Teradyne (NASDAQ:TER - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.45. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 87.0% compared to the same quarter last year. On average, sell-side analysts predict that Teradyne, Inc. will post 7.23 earnings per share for the current year.

Teradyne Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from Teradyne's previous quarterly dividend of $0.12. Teradyne's payout ratio is presently 9.63%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Susquehanna increased their target price on shares of Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a report on Thursday, April 9th. JPMorgan Chase & Co. raised shares of 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. Zacks Research upgraded shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Weiss Ratings raised Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Finally, Bank of America lifted their price objective on Teradyne from $365.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday. One equities 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. According to MarketBeat, Teradyne currently has an average rating of "Moderate Buy" and an average price target of $363.87.

Insider Buying and Selling at Teradyne

In other 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 value of $232,880.00. Following the completion of 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 document filed 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, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the transaction, the vice president owned 7,665 shares of the company's stock, valued at approximately $2,894,304. The trade was a 8.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,941 shares of company stock valued at $5,444,112. 0.19% of the stock is currently owned by corporate insiders.

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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