Teradyne, Inc. (NASDAQ:TER) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Teradyne, Inc. by 16.9%, owning 294,226 shares valued at approximately $24.3 million.
• Teradyne reported earnings per share of $0.57 for the last quarter, exceeding estimates and indicating a 10.7% year-over-year revenue decline.
• Teradyne's Board of Directors authorized a $1.00 billion stock repurchase program, suggesting confidence in the company's valuation.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,226 shares of the company's stock after purchasing an additional 42,630 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Teradyne worth $24,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC grew its holdings in shares of Teradyne by 200.0% during the 1st quarter. Berbice Capital Management LLC now owns 300 shares of the company's stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Teradyne during the 4th quarter valued at about $34,000. Manchester Capital Management LLC lifted its position in Teradyne by 44.7% during the 1st quarter. Manchester Capital Management LLC now owns 453 shares of the company's stock valued at $37,000 after acquiring an additional 140 shares during the period. Sentry Investment Management LLC purchased a new position in Teradyne in the first quarter worth about $45,000. Finally, AdvisorNet Financial Inc raised its holdings in Teradyne by 319.0% in the first quarter. AdvisorNet Financial Inc now owns 595 shares of the company's stock worth $49,000 after buying an additional 453 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Up 2.1%

Teradyne stock traded up $2.38 during mid-day trading on Wednesday, hitting $114.01. The company had a trading volume of 5,223,735 shares, compared to its average volume of 3,515,260. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.19 and a beta of 1.72. Teradyne, Inc. has a 1 year low of $65.77 and a 1 year high of $144.16. The business has a fifty day moving average of $93.49 and a 200 day moving average of $91.44.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The firm had revenue of $651.80 million during the quarter, compared to analysts' expectations of $649.02 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. Teradyne's revenue was down 10.7% compared to the same quarter last year. Equities analysts anticipate that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne declared that its board has initiated a share buyback program on Monday, April 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 554 shares of Teradyne stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $105.73, for a total value of $58,574.42. Following the transaction, the chief executive officer directly owned 97,547 shares of the company's stock, valued at $10,313,644.31. The trade was a 0.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Cowen reiterated a "buy" rating on shares of Teradyne in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $102.00 price target (up from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. Morgan Stanley raised shares of Teradyne from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $74.00 to $100.00 in a report on Thursday, July 31st. KeyCorp reissued a "sector weight" rating on shares of Teradyne in a report on Thursday, April 17th. Finally, UBS Group reaffirmed a "buy" rating and set a $130.00 price target (up previously from $120.00) on shares of Teradyne in a research note on Thursday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $114.44.

Teradyne Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.