Van ECK Associates Corp Buys 123,549 Shares of Teradyne, Inc. $TER

Key Points

• Van ECK Associates increased its Teradyne stake by 5%, purchasing 123,549 shares to reach 2.61 million shares valued at approximately $1.26 billion. Institutional investors collectively own 99.77% of Teradyne.
• Teradyne reported strong quarterly results, with revenue rising 103.9% year over year to $1.33 billion and earnings of $2.47 per share, beating analyst expectations of $2.09.
• TER recently traded at $354.97, down 4.6%, while analysts maintained a “Moderate Buy” consensus and an average price target of $396.80. The company also declared a quarterly dividend of $0.13 per share.

Van ECK Associates Corp boosted its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,607,914 shares of the company's stock after purchasing an additional 123,549 shares during the quarter. Teradyne comprises 0.8% of Van ECK Associates Corp's holdings, making the stock its 22nd largest holding. Van ECK Associates Corp owned 1.67% of Teradyne worth $1,261,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Teradyne by 12.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company's stock valued at $342,000 after buying an additional 468 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Teradyne during the 1st quarter worth approximately $297,000. Cresset Asset Management LLC raised its stake in shares of Teradyne by 11.6% during the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company's stock worth $608,000 after acquiring an additional 702 shares in the last quarter. NewEdge Advisors LLC lifted its position in Teradyne by 467.1% during the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company's stock valued at $306,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Teradyne by 5.1% during the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company's stock valued at $6,755,000 after acquiring an additional 3,651 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Stock Down 4.6%

TER stock opened at $354.97 on Friday. The firm has a 50 day moving average of $380.37 and a 200 day moving average of $356.92. The stock has a market capitalization of $55.50 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 0.75 and a beta of 1.78. Teradyne, Inc. has a 52 week low of $109.56 and a 52 week high of $487.91.

Teradyne (NASDAQ:TER - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. Teradyne's revenue was up 103.9% compared to the same quarter last year. On average, equities research analysts expect that Teradyne, Inc. will post 9.1 earnings per share for the current year.

Teradyne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. Teradyne's payout ratio is 7.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TER shares. Zacks Research upgraded shares of Teradyne from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Susquehanna increased their price objective on Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a report on Tuesday, June 30th. UBS Group increased their price objective on Teradyne from $440.00 to $500.00 and gave the company a "buy" rating in a report on Monday, July 20th. Wall Street Zen cut Teradyne from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Evercore restated an "outperform" rating and set a $420.00 target price on shares of Teradyne in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Teradyne has an average rating of "Moderate Buy" and a consensus price target of $396.80.

Insider Buying and Selling at Teradyne

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $425.00, for a total value of $1,700,000.00. Following the transaction, the chief executive officer directly owned 112,495 shares of the company's stock, valued at $47,810,375. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

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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