Teradyne, Inc. $TER Shares Sold by Volterra Technologies LP

Key Points

• Volterra Technologies LP sharply reduced its Teradyne stake in the first quarter, cutting holdings by 81.8% and ending with 707 shares worth about $210,000.
• Teradyne’s latest earnings beat expectations, reporting $2.56 EPS on $1.28 billion in revenue versus consensus estimates of $2.11 EPS and $1.20 billion in revenue; revenue jumped 87% year over year.
• Analysts remain generally bullish on the stock, with a “Moderate Buy” consensus and an average price target of $394.53, though some firms recently adjusted their targets and Weiss Ratings downgraded the shares to Hold.

Volterra Technologies LP lowered its stake in Teradyne, Inc. (NASDAQ:TER - Free Report) by 81.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 707 shares of the company's stock after selling 3,184 shares during the quarter. Volterra Technologies LP's holdings in Teradyne were worth $210,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Cornerstone Planning Group LLC raised its stake in shares of Teradyne by 149.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $42,000 after acquiring an additional 85 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Teradyne during the 4th quarter worth approximately $28,000. SJS Investment Consulting Inc. boosted its position in shares of 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 purchasing an additional 108 shares during the period. Ascentis Independent Advisors acquired a new stake in Teradyne in the 1st quarter valued at approximately $56,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Teradyne in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 99.77% of the company's stock.

Insiders Place Their Bets

In other news, 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 owned 15,722 shares in the company, valued at approximately $5,581,310. This trade represents a 4.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, VP Ryan Driscoll sold 680 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the transaction, the vice president directly owned 7,665 shares of the company's stock, valued at approximately $2,894,304. This represents a 8.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last quarter. 0.19% of the stock is owned by company insiders.

Teradyne Stock Up 1.2%

Teradyne stock opened at $373.75 on Friday. Teradyne, Inc. has a 52-week low of $89.18 and a 52-week high of $487.91. The firm has a market cap of $58.51 billion, a PE ratio of 69.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.74. The company's 50 day moving average is $382.18 and its two-hundred day moving average is $332.73.

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

Teradyne Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on TER shares. Morgan Stanley set a $387.00 price target on Teradyne in a research note on Thursday, April 30th. Evercore set a $370.00 price objective on Teradyne in a research note on Thursday, April 30th. Bank of America lifted their price objective on Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. UBS Group boosted their price objective on Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a report on Monday. Finally, Weiss Ratings lowered Teradyne from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $394.53.

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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