TD Private Client Wealth LLC Trims Holdings in Teradyne, Inc. $TER

Key Points

• TD Private Client Wealth LLC cut its Teradyne position by 93.4% in the fourth quarter, leaving it with just 203 shares worth about $39,000. Other institutional investors also made mixed moves, though hedge funds and institutions still own 99.77% of the stock.
• Teradyne reported strong quarterly results, with EPS of $2.56 versus the $2.11 consensus and revenue of $1.28 billion, up 87% year over year. Analysts now expect the company to earn 7.09 EPS for the current fiscal year.
• Wall Street sentiment remains constructive, with several firms raising price targets and JPMorgan upgrading the stock to overweight. The consensus rating is “Moderate Buy,” with an average target price of $339.80, while the shares recently traded at $358.44.

TD Private Client Wealth LLC trimmed its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 93.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203 shares of the company's stock after selling 2,870 shares during the period. TD Private Client Wealth LLC's holdings in Teradyne were worth $39,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Teradyne in the fourth quarter valued at approximately $37,000. True Wealth Design LLC boosted its holdings in Teradyne by 49.6% in the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock worth $41,000 after purchasing an additional 70 shares during the period. Root Financial Partners LLC acquired a new position in Teradyne in the third quarter worth $31,000. Davidson Capital Management Inc. bought a new stake in Teradyne in the third quarter valued at $31,000. Finally, Activest Wealth Management lifted its stake in Teradyne by 73.6% in the fourth quarter. Activest Wealth Management now owns 243 shares of the company's stock valued at $47,000 after buying an additional 103 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TER has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Teradyne from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Royal Bank Of Canada set a $270.00 price target on Teradyne in a research note on Monday, February 2nd. Morgan Stanley set a $387.00 target price on Teradyne in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price on the stock in a research note on Thursday, April 30th. Finally, Evercore set a $370.00 price target on Teradyne in a research note on Thursday, April 30th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $339.80.

Teradyne Price Performance

Shares of NASDAQ:TER opened at $358.44 on Monday. The business's fifty day moving average price is $340.16 and its two-hundred day moving average price is $270.29. Teradyne, Inc. has a fifty-two week low of $75.99 and a fifty-two week high of $422.11. The stock has a market capitalization of $56.11 billion, a price-to-earnings ratio of 66.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.79.

Teradyne (NASDAQ:TER - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business's revenue for the quarter was up 87.0% on a year-over-year basis. Research analysts expect that Teradyne, Inc. will post 7.09 EPS for the current fiscal year.

Teradyne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This is a positive change from Teradyne's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.1%. Teradyne's payout ratio is currently 9.63%.

Insider Transactions at Teradyne

In related news, CEO Gregory Stephen Smith sold 8,597 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the completion of the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. This trade represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company's stock.

Teradyne Company 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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