Oppenheimer Asset Management Inc. Buys New Shares in Teradyne, Inc. $TER

Oppenheimer Asset Management Inc. bought a new position in shares of Teradyne, Inc. (NASDAQ:TER) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,097 shares of the company’s stock, valued at approximately $1,498,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its holdings in Teradyne by 10.2% in the 2nd quarter. Belpointe Asset Management LLC now owns 2,598 shares of the company’s stock valued at $1,257,000 after buying an additional 240 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of Teradyne by 47.2% during the 2nd quarter. Soltis Investment Advisors LLC now owns 1,323 shares of the company’s stock worth $640,000 after acquiring an additional 424 shares during the period. Mirabella Financial Services LLP boosted its position in shares of Teradyne by 12.0% in the second quarter. Mirabella Financial Services LLP now owns 930 shares of the company’s stock worth $450,000 after acquiring an additional 100 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of Teradyne in the second quarter worth approximately $344,000. Finally, Mitchell Capital Management Co. grew its holdings in Teradyne by 3.9% in the second quarter. Mitchell Capital Management Co. now owns 17,380 shares of the company’s stock valued at $8,409,000 after purchasing an additional 648 shares during the period. 99.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TER. Weiss Ratings raised shares of Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Morgan Stanley boosted their price objective on shares of Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Robert W. Baird set a $420.00 price objective on Teradyne in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 target price on the stock in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $396.80.

Insiders Place Their Bets

In related news, insider Shannon John Poulin sold 656 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This trade represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,664 shares of company stock valued at $2,273,133. Insiders own 0.19% of the company’s stock.

Teradyne Price Performance

Shares of NASDAQ TER opened at $418.79 on Monday. Teradyne, Inc. has a 1-year low of $106.30 and a 1-year high of $487.91. The company has a market capitalization of $65.47 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 0.85 and a beta of 1.78. The business has a 50-day moving average of $384.26 and a 200-day moving average of $349.21.

Teradyne (NASDAQ:TER) last posted its 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. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 103.9% compared to the same quarter last year. Research analysts expect that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

About Teradyne

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.