Pallas Capital Advisors LLC Acquires Shares of 6,500 Teradyne, Inc. $TER

Pallas Capital Advisors LLC bought a new position in Teradyne, Inc. (NASDAQ:TER) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,500 shares of the company’s stock, valued at approximately $3,145,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in shares of Teradyne during the 2nd quarter valued at $206,913,000. Perigon Wealth Management LLC purchased a new stake in shares of Teradyne during the second quarter worth $1,365,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Teradyne during the second quarter valued at $322,000. Rice Hall James & Associates LLC acquired a new stake in Teradyne during the second quarter valued at $314,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Teradyne in the 2nd quarter worth about $194,090,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TER. Zacks Research raised Teradyne from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Bank of America increased their price objective on Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Evercore reaffirmed an “outperform” rating and set a $420.00 price objective on shares of Teradyne in a research report on Thursday, July 30th. Stifel Nicolaus boosted 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, Robert W. Baird set a $420.00 price target on shares of Teradyne in a research note on Thursday, July 30th. One investment 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.80.

Insider Activity at Teradyne

In other news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $423.03, for a total value of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares of the company’s stock, valued at $50,962,424.10. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $345.37, for a total transaction of $348,132.96. Following the completion of the transaction, the insider directly owned 15,066 shares in the company, valued at approximately $5,203,344.42. This represents a 6.27% decrease in their position. 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. In the last quarter, insiders have sold 5,664 shares of company stock worth $2,273,133. Corporate insiders own 0.19% of the company’s stock.

Teradyne Stock Performance

TER opened at $443.14 on Tuesday. The company has a market cap of $69.28 billion, a PE ratio of 60.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.78. The stock has a 50-day moving average of $385.63 and a 200-day moving average of $350.65. Teradyne, Inc. has a 52-week low of $106.30 and a 52-week high of $487.91.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was up 103.9% compared to the same quarter last year. On average, research analysts predict 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.