Legal & General Group Plc Buys Shares of 1,355,914 Teradyne, Inc. $TER

Legal & General Group Plc bought a new position in shares of Teradyne, Inc. (NASDAQ:TER) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,355,914 shares of the company’s stock, valued at approximately $656,058,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Community Financial Services Group LLC acquired a new stake in shares of Teradyne in the second quarter valued at approximately $29,000. Elevation Wealth Partners LLC raised its position in shares of Teradyne by 1,320.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after purchasing an additional 66 shares during the last quarter. Mcdonald Partners LLC acquired a new position in shares of Teradyne during the 2nd quarter worth approximately $36,000. Hilltop National Bank purchased a new stake in Teradyne in the 2nd quarter valued at approximately $41,000. Finally, McIlrath & Eck LLC purchased a new stake in Teradyne in the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

Teradyne Stock Performance

Shares of TER opened at $364.90 on Tuesday. Teradyne, Inc. has a 1 year low of $109.56 and a 1 year high of $487.91. The company’s 50 day simple moving average is $385.11 and its 200 day simple moving average is $355.09. The company has a market capitalization of $57.05 billion, a price-to-earnings ratio of 50.05, a PEG ratio of 0.76 and a beta of 1.78.

Teradyne (NASDAQ:TER) last released its earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.09 by $0.38. The firm had revenue of $1.33 billion during 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%. Teradyne’s revenue for the quarter was up 103.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Equities analysts expect that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Teradyne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.1%. Teradyne’s payout ratio is currently 7.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TER shares. Robert W. Baird reissued a “neutral” rating and set a $420.00 price target on shares of Teradyne in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and issued a $465.00 price target on shares of Teradyne in a report on Tuesday, July 28th. UBS Group increased their price objective on Teradyne from $440.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Stifel Nicolaus increased their price objective on Teradyne from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Bank of America lifted their price objective on Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.80.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 4,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $425.00, for a total value of $1,700,000.00. Following the completion of the transaction, the chief executive officer directly owned 112,495 shares in the company, valued at approximately $47,810,375. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

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.