Sumitomo Life Insurance Co. Acquires Shares of 3,050 Teradyne, Inc. $TER

Key Points

• Sumitomo Life Insurance initiated a Teradyne position by purchasing 3,050 shares valued at approximately $1.48 million. Institutional investors collectively own 99.77% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $396.80. Price targets range from $400 to $550.
• Teradyne reported strong quarterly results, including $2.47 in earnings per share and $1.33 billion in revenue, with revenue rising 103.9% year over year and exceeding analyst expectations.

Sumitomo Life Insurance Co. bought a new position in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,050 shares of the company's stock, valued at approximately $1,476,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Financial Services Group LLC purchased a new stake in shares of Teradyne during the second quarter valued at approximately $29,000. Elevation Wealth Partners LLC boosted its position in Teradyne by 1,320.0% in the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock worth $34,000 after purchasing an additional 66 shares during the last quarter. Mcdonald Partners LLC purchased a new position in Teradyne in the second quarter worth $36,000. Hilltop National Bank bought a new position in Teradyne in the 2nd quarter valued at $41,000. Finally, McIlrath & Eck LLC bought a new position in Teradyne in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 99.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research raised Teradyne from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Robert W. Baird restated a "neutral" rating and set a $420.00 price target on shares of Teradyne in a research report on Friday. Citigroup raised their price objective on shares of Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Finally, Evercore reiterated an "outperform" rating and issued a $420.00 target price on shares of Teradyne in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $396.80.

Teradyne Price Performance

NASDAQ:TER opened at $375.74 on Friday. The company has a market capitalization of $58.74 billion, a P/E ratio of 51.54, a P/E/G ratio of 0.77 and a beta of 1.78. The business has a fifty day simple moving average of $386.46 and a two-hundred day simple moving average of $353.78. Teradyne, Inc. has a 1 year low of $109.56 and a 1 year high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 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 firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The business's revenue for the quarter was up 103.9% compared to the same quarter last year. As a group, analysts anticipate that Teradyne, Inc. will post 9.1 earnings per share for the current year.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 112,495 shares in the company, valued at $47,810,375. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

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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