Sumitomo Life Insurance Co. Buys Shares of 3,050 Teradyne, Inc. $TER

Sumitomo Life Insurance Co. purchased a new stake in Teradyne, Inc. (NASDAQ:TER) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,050 shares of the company’s stock, valued at approximately $1,476,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Teradyne during the 2nd quarter worth about $9,404,408,000. Andar Capital Management HK Ltd purchased a new position in Teradyne during the 2nd quarter valued at about $37,800,000. Norges Bank purchased a new position in Teradyne during the 4th quarter valued at about $398,777,000. Wellington Management Group LLP increased its position in shares of Teradyne by 13,949.4% during the third quarter. Wellington Management Group LLP now owns 2,036,887 shares of the company’s stock valued at $280,357,000 after buying an additional 2,022,389 shares during the period. Finally, Aspex Management HK Ltd bought a new stake in shares of Teradyne during the fourth quarter valued at about $199,723,000. 99.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TER shares. UBS Group increased their price target on shares of Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, July 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $465.00 target price on shares of Teradyne in a report on Tuesday, July 28th. Susquehanna increased their target price on shares of Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research note on Tuesday, June 30th. Bank of America raised their price target on shares of Teradyne from $365.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Evercore restated an “outperform” rating and set a $420.00 price target on shares of Teradyne in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Teradyne currently has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Teradyne Price Performance

TER stock opened at $375.74 on Friday. The firm has a 50 day simple moving average of $386.46 and a two-hundred day simple moving average of $353.78. The stock has a market cap of $58.74 billion, a PE ratio of 51.54, a P/E/G ratio of 0.77 and a beta of 1.78. Teradyne, Inc. has a one year low of $109.56 and a one year high of $487.91.

Teradyne (NASDAQ:TER) last posted its quarterly earnings data 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 103.9% on a year-over-year basis. On average, research analysts expect that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction dated 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 completion of the sale, the chief executive officer owned 112,495 shares of the company’s stock, valued at $47,810,375. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by 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.