Resona Asset Management Co. Ltd. Boosts Stake in Teradyne, Inc. (NASDAQ:TER)

Resona Asset Management Co. Ltd. grew its position in shares of Teradyne, Inc. (NASDAQ:TER) by 7.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 50,718 shares of the company’s stock after acquiring an additional 3,407 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Teradyne were worth $4,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its stake in shares of Teradyne by 29.8% in the 1st quarter. DAVENPORT & Co LLC now owns 5,094 shares of the company’s stock worth $421,000 after buying an additional 1,170 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Teradyne by 56.0% in the 1st quarter. Park Avenue Securities LLC now owns 3,045 shares of the company’s stock worth $252,000 after buying an additional 1,093 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Teradyne by 6.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,328 shares of the company’s stock worth $357,000 after buying an additional 261 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Teradyne by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 68,612 shares of the company’s stock worth $5,667,000 after buying an additional 3,589 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Teradyne by 306.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,661 shares of the company’s stock worth $3,111,000 after buying an additional 28,406 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insider Buying and Selling at Teradyne

In related news, CEO Gregory Stephen Smith sold 554 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $106.00, for a total value of $58,724.00. Following the transaction, the chief executive officer directly owned 96,993 shares of the company’s stock, valued at approximately $10,281,258. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TER. The Goldman Sachs Group restated a “sell” rating and issued a $85.00 price target on shares of Teradyne in a research note on Wednesday, July 30th. Morgan Stanley upgraded Teradyne from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $74.00 to $100.00 in a research note on Thursday, July 31st. Wall Street Zen upgraded Teradyne from a “sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald set a $105.00 price objective on Teradyne and gave the company an “overweight” rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (up from $88.00) on shares of Teradyne in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.44.

Teradyne Price Performance

NASDAQ TER opened at $109.42 on Friday. The business’s fifty day moving average price is $95.21 and its 200-day moving average price is $91.45. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.34 and a beta of 1.72. Teradyne, Inc. has a 1-year low of $65.77 and a 1-year high of $144.16.

Teradyne (NASDAQ:TER) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $651.80 million for the quarter, compared to analysts’ expectations of $649.02 million. Teradyne had a return on equity of 18.16% and a net margin of 16.59%. The company’s revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. Equities research analysts anticipate that Teradyne, Inc. will post 3.88 EPS for the current year.

Teradyne declared that its Board of Directors has approved a share buyback program on Monday, April 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Teradyne Profile

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.