Legal & General Group Plc Invests $656.06 Million in Teradyne, Inc. $TER

Legal & General Group Plc purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,355,914 shares of the company’s stock, valued at approximately $656,058,000. Legal & General Group Plc owned 0.87% of Teradyne at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Teradyne during the 4th quarter worth $28,000. Community Financial Services Group LLC purchased a new stake in shares of Teradyne in the second quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Teradyne in the first quarter valued at about $30,000. Elevation Wealth Partners LLC increased its stake in shares of Teradyne by 1,320.0% during the second quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock worth $34,000 after acquiring an additional 66 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Teradyne during the second quarter worth about $35,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne 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 completion of the transaction, the chief executive officer directly owned 112,495 shares of the company’s stock, valued at approximately $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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America boosted their target price on Teradyne from $365.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Robert W. Baird reissued a “neutral” rating and issued a $420.00 price target on shares of Teradyne in a report on Friday. Stifel Nicolaus lifted their price target on Teradyne from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. raised Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price objective on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Teradyne has an average rating of “Moderate Buy” and a consensus target price of $396.80.

Teradyne Trading Down 2.9%

Shares of TER opened at $364.90 on Tuesday. The firm’s 50-day moving average is $385.11 and its two-hundred day moving average is $355.09. Teradyne, Inc. has a twelve month low of $109.56 and a twelve month high of $487.91. The firm has a market capitalization of $57.05 billion, a P/E ratio of 50.05, a PEG ratio of 0.76 and a beta of 1.78.

Teradyne (NASDAQ:TER) last issued its earnings results on Wednesday, July 29th. The company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.22 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 103.9% compared to the same quarter last year. Analysts predict that Teradyne, Inc. will post 9.1 EPS for the current year.

Teradyne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 4th. Teradyne’s dividend payout ratio (DPR) is presently 7.13%.

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.