Teradyne, Inc. $TER Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux cut its Teradyne stake by 30.9% in the second quarter, selling 51,007 shares and retaining 114,066 shares worth approximately $55.2 million. Institutional investors collectively own 99.77% of Teradyne.
• Teradyne reported strong quarterly results, with EPS of $2.47 versus the $2.09 consensus and revenue of $1.33 billion, up 103.9% year over year and above expectations.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and a $396.80 target price, though the stock opened at $410.52 and trades at a relatively high P/E ratio of 56.31.

Deroy & Devereaux Private Investment Counsel Inc. lessened its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 30.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,066 shares of the company's stock after selling 51,007 shares during the quarter. Teradyne accounts for approximately 2.3% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 4th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.07% of Teradyne worth $55,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Teradyne by 0.9% during the fourth quarter. State Street Corp now owns 7,078,635 shares of the company's stock valued at $1,370,141,000 after buying an additional 60,986 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Teradyne by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company's stock worth $442,413,000 after acquiring an additional 143,058 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Teradyne by 18.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,203,546 shares of the company's stock worth $813,640,000 after acquiring an additional 659,273 shares during the last quarter. Invesco Ltd. lifted its position in Teradyne by 3.5% in the 3rd quarter. Invesco Ltd. now owns 2,959,330 shares of the company's stock valued at $407,322,000 after acquiring an additional 99,864 shares in the last quarter. Finally, Morgan Stanley lifted its position in Teradyne by 1.9% in the 4th quarter. Morgan Stanley now owns 2,442,014 shares of the company's stock valued at $472,677,000 after acquiring an additional 45,089 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the sale, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of the business's stock in a transaction on 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 approximately $5,581,310. This represents a 4.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,664 shares of company stock worth $2,273,133 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Teradyne Stock Performance

Shares of TER stock opened at $410.52 on Friday. The company has a market capitalization of $64.18 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 0.81 and a beta of 1.78. Teradyne, Inc. has a 52-week low of $106.30 and a 52-week high of $487.91. The company has a 50-day simple moving average of $383.05 and a two-hundred day simple moving average of $347.89.

Teradyne (NASDAQ:TER - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.09 by $0.38. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the firm earned $0.57 EPS. The company's quarterly revenue was up 103.9% compared to the same quarter last year. On average, sell-side analysts forecast that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $550.00 price objective on shares of Teradyne in a report on Wednesday, July 29th. Citigroup raised their target price on Teradyne from $325.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Susquehanna lifted their target price on Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research report on Tuesday, June 30th. Stifel Nicolaus upped their price target on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, UBS Group increased their price target on Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, July 20th. One research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.80.

About Teradyne

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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