Kornitzer Capital Management Inc. KS Purchases Shares of 9,900 Teradyne, Inc. $TER

Kornitzer Capital Management Inc. KS purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER) during the 2nd quarter, Holdings Channel reports. The fund purchased 9,900 shares of the company’s stock, valued at approximately $4,790,000.

A number of other large investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Teradyne in the 4th quarter valued at about $28,000. Community Financial Services Group LLC acquired a new stake in shares of Teradyne in the second quarter valued at about $29,000. McIlrath & Eck LLC bought a new stake in Teradyne during the first quarter worth about $30,000. Elevation Wealth Partners LLC raised its holdings in Teradyne by 1,320.0% during the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after acquiring an additional 66 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in Teradyne during the second quarter valued at approximately $35,000. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the transaction, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of Teradyne stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $355.00, for a total value of $232,880.00. Following the transaction, the insider owned 15,722 shares of the company’s stock, valued at $5,581,310. This represents a 4.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 5,664 shares of company stock valued at $2,273,133. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. UBS Group upped their price objective on Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Zacks Research raised Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 target price for the company in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $550.00 target price on shares of Teradyne in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $396.80.

Teradyne Stock Performance

Shares of NASDAQ:TER opened at $418.79 on Friday. Teradyne, Inc. has a 52-week low of $106.30 and a 52-week high of $487.91. The company has a market capitalization of $65.47 billion, a P/E ratio of 57.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.78. The company has a 50-day simple moving average of $384.26 and a 200 day simple moving average of $348.39.

Teradyne (NASDAQ:TER) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.38. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.Teradyne’s quarterly revenue was up 103.9% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. As a group, equities analysts forecast that Teradyne, Inc. will post 9.1 earnings per share 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.