Teradyne, Inc. $TER Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp sharply increased its Teradyne stake by 191.3% in the first quarter, ending with 35,588 shares valued at about $10.55 million.
• Teradyne reported better-than-expected Q1 results, with earnings of $2.56 per share and revenue of $1.28 billion, while quarterly revenue jumped 87% year over year.
• Analysts remain upbeat on the stock, with a Moderate Buy consensus and an average price target of $390.53; Bank of America recently raised its target to $525 and kept a buy rating.

Fifth Third Bancorp lifted its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 191.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,588 shares of the company's stock after acquiring an additional 23,370 shares during the quarter. Fifth Third Bancorp's holdings in Teradyne were worth $10,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in Teradyne by 1.8% in the 4th quarter. UMB Bank n.a. now owns 2,293 shares of the company's stock valued at $444,000 after buying an additional 40 shares during the period. Stephens Inc. AR increased its stake in Teradyne by 1.2% in the fourth quarter. Stephens Inc. AR now owns 3,332 shares of the company's stock valued at $645,000 after purchasing an additional 41 shares during the last quarter. Sapient Capital LLC raised its stake in Teradyne by 1.5% during the 4th quarter. Sapient Capital LLC now owns 2,849 shares of the company's stock worth $560,000 after acquiring an additional 43 shares in the last quarter. Whittier Trust Co. increased its position in shares of Teradyne by 5.5% during the first quarter. Whittier Trust Co. now owns 827 shares of the company's stock worth $261,000 after purchasing an additional 43 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in Teradyne by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 1,440 shares of the company's stock worth $279,000 after buying an additional 53 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Teradyne Stock Performance

TER opened at $353.23 on Wednesday. Teradyne, Inc. has a 1 year low of $88.60 and a 1 year high of $487.91. The company's 50 day simple moving average is $384.24 and its 200 day simple moving average is $325.32. The stock has a market capitalization of $55.29 billion, a PE ratio of 65.41, a P/E/G ratio of 0.99 and a beta of 1.74.

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

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $0.13 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.52 annualized dividend and a yield of 0.1%. This is an increase from Teradyne's previous quarterly dividend of $0.12. Teradyne's payout ratio is currently 9.63%.

Insiders Place Their Bets

In other news, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $338.98, for a total value 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 represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the transaction, the vice president directly owned 7,665 shares of the company's stock, valued at $2,894,304. This represents a 8.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,941 shares of company stock worth $5,444,112 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of research reports. Evercore set a $370.00 target price on shares of Teradyne in a report on Thursday, April 30th. Bank of America raised their target price on Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Citigroup boosted their price target on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Zacks Research upgraded Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Teradyne currently has a consensus rating of "Moderate Buy" and an average price target of $390.53.

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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