Arrowpoint Investment Partners Singapore Pte. Ltd. Trims Stock Position in Teradyne, Inc. (NASDAQ:TER)

Key Points

• Arrowpoint Investment Partners reduced its position in Teradyne, Inc. by 27.1%, owning 7,300 shares worth $603,000 after selling 2,710 shares in the first quarter.
• The majority of Teradyne's stock, 99.77%, is owned by institutional investors, with significant increases in holdings from firms such as HighTower Advisors and Public Sector Pension Investment Board.
• Research analysts have varying opinions on Teradyne, with the consensus rating being a "Hold" and a target price of $114.44, while UBS and Cowen maintain "buy" ratings.

Arrowpoint Investment Partners Singapore Pte. Ltd. lowered its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 27.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,300 shares of the company's stock after selling 2,710 shares during the quarter. Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings in Teradyne were worth $603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in shares of Teradyne by 29.8% during the first quarter. DAVENPORT & Co LLC now owns 5,094 shares of the company's stock worth $421,000 after purchasing an additional 1,170 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Teradyne by 56.0% during the first quarter. Park Avenue Securities LLC now owns 3,045 shares of the company's stock worth $252,000 after buying an additional 1,093 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Teradyne by 6.4% during the first quarter. Crossmark Global Holdings Inc. now owns 4,328 shares of the company's stock worth $357,000 after buying an additional 261 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Teradyne by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 68,612 shares of the company's stock worth $5,667,000 after buying an additional 3,589 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Teradyne by 306.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,661 shares of the company's stock worth $3,111,000 after buying an additional 28,406 shares during the last quarter. Institutional investors own 99.77% of the company's stock.

Teradyne Price Performance

Shares of Teradyne stock traded up $2.38 during trading on Wednesday, reaching $114.01. 5,223,735 shares of the company traded hands, compared to its average volume of 4,809,267. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $144.16. The company has a 50 day moving average price of $94.12 and a 200-day moving average price of $91.59. The firm has a market capitalization of $18.14 billion, a PE ratio of 39.45, a P/E/G ratio of 2.34 and a beta of 1.72.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. Equities research analysts expect that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne declared that its Board of Directors has initiated a share buyback plan on Monday, April 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Cowen reissued a "buy" rating on shares of Teradyne in a research note on Wednesday, July 30th. Morgan Stanley raised shares of Teradyne from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $74.00 to $100.00 in a research note on Thursday, July 31st. UBS Group reissued a "buy" rating and set a $130.00 price target (up from $120.00) on shares of Teradyne in a research note on Thursday, July 31st. Finally, KeyCorp reissued a "sector weight" rating on shares of Teradyne in a research note on Thursday, April 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $114.44.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen Smith sold 554 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $105.73, for a total value of $58,574.42. Following the completion of the sale, the chief executive officer directly owned 97,547 shares in the company, valued at approximately $10,313,644.31. The trade was a 0.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Teradyne Company 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.