Teradyne, Inc. $TER Position Cut by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC cut its Teradyne position by 36.4% in the first quarter, selling 9,032 shares and ending with 15,754 shares valued at about $4.67 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 beating estimates and revenue of $1.28 billion topping forecasts; revenue also jumped 87% year over year.
• Analysts remain broadly positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of about $390.53.

Lmcg Investments LLC lessened its position in Teradyne, Inc. (NASDAQ:TER - Free Report) by 36.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,754 shares of the company's stock after selling 9,032 shares during the period. Lmcg Investments LLC's holdings in Teradyne were worth $4,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Teradyne during the fourth quarter worth approximately $28,000. SJS Investment Consulting Inc. boosted its position in Teradyne by 192.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 164 shares of the company's stock worth $49,000 after acquiring an additional 108 shares during the period. Ascentis Independent Advisors bought a new position in shares of Teradyne in the first quarter worth $56,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Teradyne during the fourth quarter valued at $37,000. Finally, True Wealth Design LLC increased its holdings in shares of Teradyne by 49.6% during the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock valued at $41,000 after purchasing an additional 70 shares during the period. Institutional investors own 99.77% of the company's stock.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $423.03, for a total value of $1,692,120.00. Following the completion of the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of Teradyne stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the transaction, the insider directly owned 15,722 shares in the company, valued at $5,581,310. This represents a 4.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 14,941 shares of company stock valued at $5,444,112 over the last three months. Insiders own 0.19% of the company's stock.

Teradyne Price Performance

Shares of TER opened at $351.57 on Thursday. The firm's 50 day moving average is $383.65 and its 200-day moving average is $320.90. The stock has a market capitalization of $55.03 billion, a P/E ratio of 65.11, a P/E/G ratio of 0.99 and a beta of 1.74. Teradyne, Inc. has a 12-month low of $88.60 and a 12-month high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The business's quarterly revenue was up 87.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. As a group, equities research analysts forecast that Teradyne, Inc. will post 7.2 EPS for the current fiscal year.

Teradyne Increases Dividend

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

Analyst Upgrades and Downgrades

TER has been the subject of several research analyst reports. Weiss Ratings raised shares of Teradyne from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 4th. The Goldman Sachs Group boosted their price target on shares of Teradyne from $350.00 to $465.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley set a $387.00 price target on shares of Teradyne in a research note on Thursday, April 30th. Citigroup raised their price objective on shares of Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus upped their target price on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $390.53.

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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