World Investment Advisors Trims Stake in Teradyne, Inc. $TER

Key Points

• World Investment Advisors cut its Teradyne stake by 48% in the first quarter, selling 3,436 shares and leaving it with 3,726 shares valued at about $1.1 million.
• Teradyne reported strong quarterly results, with EPS of $2.56 and revenue of $1.28 billion, both above Wall Street expectations; revenue also jumped 87% year over year.
• Analysts remain bullish on TER, with several firms raising price targets and the consensus rating sitting at “Moderate Buy” with an average target price of $390.53.

World Investment Advisors reduced its holdings in Teradyne, Inc. (NASDAQ:TER - Free Report) by 48.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,726 shares of the company's stock after selling 3,436 shares during the quarter. World Investment Advisors' holdings in Teradyne were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TER. Caitong International Asset Management Co. Ltd purchased a new position in shares of Teradyne during the fourth quarter worth about $28,000. CYBER HORNET ETFs LLC bought a new position in shares of Teradyne in the second quarter worth approximately $35,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Teradyne in the fourth quarter valued at approximately $37,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Teradyne in the third quarter valued at approximately $41,000. Finally, True Wealth Design LLC raised its stake in Teradyne by 49.6% in the fourth quarter. True Wealth Design LLC now owns 211 shares of the company's stock valued at $41,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Teradyne Price Performance

Shares of TER opened at $351.57 on Thursday. The firm has a market cap of $55.03 billion, a P/E ratio of 65.11, a P/E/G ratio of 0.99 and a beta of 1.74. The stock has a 50 day simple moving average of $383.65 and a two-hundred day simple moving average of $320.90. Teradyne, Inc. has a 1 year low of $88.60 and a 1 year high of $487.91.

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

Teradyne Increases Dividend

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

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 8,597 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the completion of the sale, the chief executive officer directly owned 124,470 shares in the company, valued at $42,192,840.60. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were 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 in the company, valued at $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 90 days. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TER shares. Citigroup boosted their price target on shares of Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Susquehanna raised their price objective on shares of Teradyne from $415.00 to $550.00 and gave the company a "positive" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. raised shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective for the company in a report on Thursday, April 30th. Stifel Nicolaus upped their target price on shares of Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Bank of America upped their target price on shares of Teradyne from $365.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $390.53.

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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