Vanguard Group Inc. Acquires 516,332 Shares of Teradyne, Inc. (NASDAQ:TER)

Key Points

• Vanguard Group Inc. has increased its holdings in Teradyne, Inc. by 2.5%, acquiring an additional 516,332 shares, bringing its total ownership to 20,922,231 shares, valued at approximately $1.73 billion.
• Several hedge funds have also recently adjusted their stakes in Teradyne, with Wellington Management notably boosting its holdings by 36.2% in the fourth quarter.
• Wall Street analysts have mixed ratings for Teradyne, with a consensus rating of "Hold" and an average price target of $114.44, reflecting the stock's recent fluctuations and earnings results.

Vanguard Group Inc. grew its holdings in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,922,231 shares of the company's stock after buying an additional 516,332 shares during the period. Vanguard Group Inc. owned 13.01% of Teradyne worth $1,728,176,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TER. Wellington Management Group LLP boosted its holdings in shares of Teradyne by 36.2% during the 4th quarter. Wellington Management Group LLP now owns 14,554 shares of the company's stock valued at $1,833,000 after buying an additional 3,870 shares in the last quarter. Renaissance Technologies LLC bought a new position in Teradyne in the 4th quarter worth about $7,587,000. Advisory Services Network LLC boosted its stake in Teradyne by 6.3% in the 4th quarter. Advisory Services Network LLC now owns 2,384 shares of the company's stock worth $300,000 after purchasing an additional 141 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Teradyne by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 68,684 shares of the company's stock worth $8,649,000 after purchasing an additional 430 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Teradyne by 12.3% in the 4th quarter. Covestor Ltd now owns 901 shares of the company's stock worth $113,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 99.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group reiterated a "buy" rating and issued a $130.00 price target (up previously from $120.00) on shares of Teradyne in a research note on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Teradyne from $85.00 to $100.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Cowen reiterated a "buy" rating on shares of Teradyne in a research note on Wednesday, July 30th. Cantor Fitzgerald set a $105.00 price target on shares of Teradyne and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Finally, Susquehanna dropped their price target on shares of Teradyne from $155.00 to $133.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $114.44.

Teradyne Stock Up 0.9%

NASDAQ TER opened at $107.47 on Friday. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $144.16. The firm has a market capitalization of $17.10 billion, a P/E ratio of 37.19, a PEG ratio of 2.25 and a beta of 1.72. The company has a 50-day moving average price of $92.38 and a 200-day moving average price of $91.75.

Teradyne (NASDAQ:TER - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Teradyne had a net margin of 16.59% and a return on equity of 18.16%. The firm had revenue of $651.80 million during the quarter, compared to analyst estimates of $649.02 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business's revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne announced that its board has approved a stock buyback plan on Monday, April 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 554 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $105.73, for a total transaction of $58,574.42. Following the completion of the sale, the chief executive officer owned 97,547 shares of the company's stock, valued at $10,313,644.31. This represents a 0.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Teradyne Company Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.

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