Tairen Capital Ltd Invests $15.48 Million in Teradyne, Inc. $TER

Key Points

• Tairen Capital Ltd. acquired 32,000 Teradyne shares worth approximately $15.48 million during the second quarter, making Teradyne its 16th-largest holding and representing about 1.4% of its portfolio. Institutional investors collectively own 99.77% of Teradyne.
• Teradyne reported strong quarterly results, with earnings per share of $2.47 exceeding the $2.09 consensus estimate and revenue of $1.33 billion rising 103.9% year over year. Analysts project full-year EPS of $9.10.
• Wall Street maintains a generally bullish view, with the stock carrying a “Moderate Buy” consensus rating and a $396.80 average price target. CEO Gregory Stephen Smith separately sold 4,000 shares for $1.7 million under a pre-arranged trading plan.

Tairen Capital Ltd bought a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,000 shares of the company's stock, valued at approximately $15,483,000. Teradyne accounts for about 1.4% of Tairen Capital Ltd's portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in 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 about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Teradyne in the first quarter worth about $30,000. Elevation Wealth Partners LLC boosted its position in shares of 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 buying an additional 66 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Teradyne in the second quarter valued at about $35,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Teradyne Stock Performance

Shares of NASDAQ TER opened at $375.74 on Monday. Teradyne, Inc. has a 1 year low of $109.56 and a 1 year high of $487.91. The stock's 50-day simple moving average is $386.46 and its 200-day simple moving average is $354.52. The firm has a market cap of $58.74 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.76 and a beta of 1.78.

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 during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. Teradyne's revenue for the quarter was up 103.9% on a year-over-year basis. As a group, research analysts predict that Teradyne, Inc. will post 9.1 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TER. Weiss Ratings upgraded Teradyne from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Cantor Fitzgerald restated an "overweight" rating and issued a $550.00 price target on shares of Teradyne in a report on Wednesday, July 29th. Stifel Nicolaus increased 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. Susquehanna lifted their price objective on shares of Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $465.00 price objective on shares of Teradyne in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $396.80.

Insider Activity

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer directly owned 112,495 shares of the company's stock, valued at $47,810,375. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by 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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