Westpac Banking Corp Takes $1.50 Million Position in Teradyne, Inc. $TER

Westpac Banking Corp bought a new position in Teradyne, Inc. (NASDAQ:TER) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,105 shares of the company’s stock, valued at approximately $1,502,000.

Other institutional investors also recently modified their holdings of the company. Fourier Capital Management Ltd purchased a new position in Teradyne during the 2nd quarter valued at about $5,769,000. TRB Wealth Management LLC bought a new position in shares of Teradyne during the second quarter valued at approximately $630,000. Sumitomo Life Insurance Co. purchased a new position in shares of Teradyne during the second quarter valued at approximately $1,476,000. Landscape Capital Management L.L.C. purchased a new position in shares of Teradyne during the second quarter valued at approximately $939,000. Finally, Korea Investment CORP purchased a new position in shares of Teradyne during the second quarter valued at approximately $60,834,000. 99.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TER shares. JPMorgan Chase & Co. upgraded Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price target on the stock in a research note on Thursday, April 30th. Robert W. Baird reiterated a “neutral” rating and set a $420.00 price objective on shares of Teradyne in a research note on Friday. UBS Group lifted 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 boosted their target price on Teradyne from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Citigroup increased their target price on Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.80.

Teradyne Stock Performance

Shares of NASDAQ TER opened at $375.74 on Friday. The firm’s 50 day moving average price is $386.46 and its 200-day moving average price is $353.78. Teradyne, Inc. has a 52-week low of $109.56 and a 52-week high of $487.91. The company has a market cap of $58.74 billion, a PE ratio of 51.54, a P/E/G ratio of 0.76 and a beta of 1.78.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.38. Teradyne had a net margin of 25.77% and a return on equity of 39.93%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was up 103.9% compared to the same quarter last year. On average, analysts forecast that Teradyne, Inc. will post 9.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $425.00, for a total transaction of $1,700,000.00. Following the sale, the chief executive officer directly owned 112,495 shares in the company, valued at approximately $47,810,375. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.