Varma Mutual Pension Insurance Co Acquires New Shares in Teradyne, Inc. $TER

Key Points

• Varma Mutual Pension Insurance Co. acquired 37,700 Teradyne shares during the second quarter, valued at approximately $18.2 million. Institutional investors collectively own 99.77% of the company.
• 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. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $396.80.
• CEO Gregory Stephen Smith sold 4,000 shares for $1.7 million under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 3.43%.

Varma Mutual Pension Insurance Co bought a new stake in Teradyne, Inc. (NASDAQ:TER - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,700 shares of the company's stock, valued at approximately $18,241,000.

Several other institutional investors have also recently bought and sold shares of the business. Community Financial Services Group LLC acquired a new stake in shares of Teradyne in the 2nd quarter valued at approximately $29,000. Elevation Wealth Partners LLC lifted its stake in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock valued at $34,000 after purchasing an additional 66 shares during the last quarter. Mcdonald Partners LLC bought a new position in Teradyne in the 2nd quarter valued at approximately $36,000. Hilltop National Bank acquired a new stake in Teradyne in the second quarter valued at approximately $41,000. Finally, McIlrath & Eck LLC acquired a new stake in Teradyne in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 99.77% of the company's stock.

Insider Buying and Selling at Teradyne

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the 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 completion of the sale, the chief executive officer directly owned 112,495 shares in the company, valued at $47,810,375. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $550.00 target price on shares of Teradyne in a research note on Wednesday, July 29th. Zacks Research upgraded Teradyne from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective on the stock in a report on Thursday, April 30th. Weiss Ratings upgraded Teradyne from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $465.00 target price on shares of Teradyne in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned 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 price target of $396.80.

Teradyne Price Performance

TER opened at $375.74 on Friday. Teradyne, Inc. has a fifty-two week low of $109.56 and a fifty-two week high of $487.91. The firm has a market capitalization of $58.74 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.76 and a beta of 1.78. The company's 50 day moving average price is $386.46 and its two-hundred day moving average price is $353.78.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.38. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.22 billion. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The company's revenue was up 103.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. As a group, equities research analysts predict that Teradyne, Inc. will post 9.1 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source