Westpac Banking Corp Has $1.01 Million Stock Holdings in Teradyne, Inc. $TER

Westpac Banking Corp decreased its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 64.6% in the first quarter, Holdings Channel reports. The firm owned 3,412 shares of the company’s stock after selling 6,238 shares during the quarter. Westpac Banking Corp’s holdings in Teradyne were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TER. Norges Bank bought a new stake in shares of Teradyne in the 4th quarter valued at approximately $398,777,000. Wellington Management Group LLP lifted its position in shares of Teradyne by 13,949.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock worth $280,357,000 after buying an additional 2,022,389 shares during the period. Aspex Management HK Ltd acquired a new stake in Teradyne in the 4th quarter valued at $199,723,000. Corient Private Wealth LLC boosted its stake in Teradyne by 2,189.2% in the 4th quarter. Corient Private Wealth LLC now owns 1,075,916 shares of the company’s stock valued at $208,254,000 after buying an additional 1,028,916 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Teradyne by 65.4% in the second quarter. Rafferty Asset Management LLC now owns 2,166,039 shares of the company’s stock valued at $194,770,000 after acquiring an additional 856,540 shares during the period. Institutional investors own 99.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TER shares. Bank of America increased their price objective on Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Evercore set a $370.00 target price on shares of Teradyne in a research note on Thursday, April 30th. Citigroup upped their target price on shares of Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Stifel Nicolaus increased 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, Susquehanna lifted their price target on shares of Teradyne from $415.00 to $550.00 and gave the company a “positive” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.53.

Teradyne Stock Performance

Teradyne stock opened at $369.46 on Thursday. The business’s fifty day moving average is $381.83 and its two-hundred day moving average is $331.56. The firm has a market cap of $57.84 billion, a P/E ratio of 68.42, a P/E/G ratio of 1.08 and a beta of 1.74. Teradyne, Inc. has a 52 week low of $89.18 and a 52 week high of $487.91.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 87.0% compared to the same quarter last year. On average, equities research analysts predict that Teradyne, Inc. will post 7.2 earnings per share for the current year.

Teradyne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders 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 dividend on an annualized basis and a yield of 0.1%. This is an increase from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s payout ratio is currently 9.63%.

Insider Buying and Selling at Teradyne

In other news, CEO Gregory Stephen Smith sold 4,000 shares of the company’s stock in a transaction that occurred 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 directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. This 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 656 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total transaction of $232,880.00. Following the sale, the insider directly owned 15,722 shares in the company, valued at $5,581,310. This trade 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. In the last 90 days, insiders sold 14,941 shares of company stock worth $5,444,112. 0.19% of the stock is currently owned by corporate insiders.

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.