AIA Group Ltd Cuts Stake in Teradyne, Inc. $TER

AIA Group Ltd cut its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 35.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,053 shares of the company’s stock after selling 2,805 shares during the period. AIA Group Ltd’s holdings in Teradyne were worth $1,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in shares of Teradyne by 12.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock valued at $342,000 after purchasing an additional 468 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Teradyne during the first quarter valued at $297,000. Cresset Asset Management LLC increased its position in shares of Teradyne by 11.6% in the 2nd quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock valued at $608,000 after acquiring an additional 702 shares during the period. NewEdge Advisors LLC increased its position in shares of Teradyne by 467.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock valued at $306,000 after acquiring an additional 2,807 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Teradyne by 5.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock worth $6,755,000 after acquiring an additional 3,651 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shannon John Poulin sold 656 shares of the firm’s 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 owned 15,722 shares of the company’s stock, valued at $5,581,310. This trade represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 dated 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 sale, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. The trade was a 3.21% 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. In the last 90 days, insiders have sold 14,941 shares of company stock worth $5,444,112. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TER shares. Robert W. Baird lifted their price target on Teradyne from $350.00 to $446.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America raised 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. Morgan Stanley set a $387.00 target price on Teradyne in a report on Thursday, April 30th. Cantor Fitzgerald upped their target price on Teradyne from $400.00 to $550.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Finally, Zacks Research upgraded shares of Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $394.53.

Teradyne Stock Performance

Shares of TER opened at $333.76 on Tuesday. The business’s 50-day moving average is $381.40 and its two-hundred day moving average is $329.05. The company has a market capitalization of $52.25 billion, a P/E ratio of 61.81, a P/E/G ratio of 0.93 and a beta of 1.74. Teradyne, Inc. has a fifty-two week low of $89.18 and a fifty-two week high of $487.91.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company’s revenue for the quarter was up 87.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Analysts forecast that Teradyne, Inc. will post 7.2 EPS 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 given a $0.13 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.52 annualized dividend and a yield of 0.2%. This is a boost from Teradyne’s previous quarterly dividend of $0.12. Teradyne’s payout ratio is currently 9.63%.

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.