Citizens Financial Group Inc. RI Makes New $2.44 Million Investment in Teradyne, Inc. $TER

Citizens Financial Group Inc. RI purchased a new stake in Teradyne, Inc. (NASDAQ:TER) in the second quarter, HoldingsChannel reports. The institutional investor purchased 5,042 shares of the company’s stock, valued at approximately $2,440,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Teradyne during the 2nd quarter worth about $9,404,408,000. Andar Capital Management HK Ltd acquired a new stake in Teradyne in the 2nd quarter valued at about $37,800,000. Norges Bank acquired a new stake in Teradyne in the 4th quarter valued at about $398,777,000. Wellington Management Group LLP grew its holdings in Teradyne by 13,949.4% during the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after purchasing an additional 2,022,389 shares during the period. Finally, Aspex Management HK Ltd bought a new position in Teradyne during the fourth quarter worth about $199,723,000. Institutional investors own 99.77% of the company’s stock.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the 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 transaction, the chief executive officer owned 120,470 shares in the company, valued at approximately $50,962,424.10. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 1,008 shares of Teradyne stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $345.37, for a total value of $348,132.96. Following the sale, the insider directly owned 15,066 shares of the company’s stock, valued at approximately $5,203,344.42. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 5,664 shares of company stock worth $2,273,133 in the last ninety days. 0.19% of the stock is owned by company insiders.

Teradyne Stock Performance

Shares of TER opened at $443.14 on Tuesday. Teradyne, Inc. has a 52 week low of $106.30 and a 52 week high of $487.91. The firm has a market cap of $69.28 billion, a P/E ratio of 60.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.78. The firm’s 50-day simple moving average is $385.63 and its 200 day simple moving average is $350.65.

Teradyne (NASDAQ:TER) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.38. The firm had revenue of $1.33 billion for 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 business’s revenue was up 103.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. As a group, equities analysts forecast that Teradyne, Inc. will post 9.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research upgraded Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup lifted their target price on Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. 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 report on Thursday, April 30th. Bank of America increased their price target on Teradyne from $365.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $396.80.

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.