State of Michigan Retirement System Raises Position in Teradyne, Inc. $TER

State of Michigan Retirement System grew its holdings in shares of Teradyne, Inc. (NASDAQ:TER) by 5.4% in the second quarter, HoldingsChannel reports. The fund owned 43,135 shares of the company’s stock after purchasing an additional 2,200 shares during the quarter. State of Michigan Retirement System’s holdings in Teradyne were worth $20,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gouws Capital LLC grew its holdings in Teradyne by 96.0% during the fourth quarter. Gouws Capital LLC now owns 15,323 shares of the company’s stock valued at $2,966,000 after purchasing an additional 7,505 shares during the period. Merit Financial Group LLC raised its stake in shares of Teradyne by 81.3% in the fourth quarter. Merit Financial Group LLC now owns 6,659 shares of the company’s stock worth $1,289,000 after buying an additional 2,986 shares during the period. Wealthfront Advisers LLC lifted its position in shares of Teradyne by 56.0% during the 4th quarter. Wealthfront Advisers LLC now owns 29,336 shares of the company’s stock valued at $5,678,000 after buying an additional 10,526 shares in the last quarter. Lecap Asset Management Ltd. lifted its position in shares of Teradyne by 88.5% during the 4th quarter. Lecap Asset Management Ltd. now owns 8,392 shares of the company’s stock valued at $1,624,000 after buying an additional 3,941 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Teradyne by 24.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 267,080 shares of the company’s stock valued at $51,696,000 after acquiring an additional 51,678 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore reissued an “outperform” rating and issued a $420.00 target price on shares of Teradyne in a report on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. UBS Group upped their price target on shares of Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Robert W. Baird set a $420.00 price objective on shares of Teradyne in a research note on Thursday, July 30th. Finally, Citigroup lifted their target price on Teradyne from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $396.80.

Insider Buying and Selling

In other news, insider Shannon John Poulin sold 1,008 shares of Teradyne stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $345.37, for a total value of $348,132.96. Following the completion of the transaction, the insider owned 15,066 shares in the company, valued at approximately $5,203,344.42. The trade was a 6.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $423.03, for a total value of $1,692,120.00. Following the transaction, the chief executive officer directly owned 120,470 shares in the company, valued at approximately $50,962,424.10. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,664 shares of company stock valued at $2,273,133. Company insiders own 0.19% of the company’s stock.

Teradyne Trading Up 2.0%

Shares of NASDAQ:TER opened at $418.79 on Friday. The company has a market cap of $65.47 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 0.83 and a beta of 1.78. Teradyne, Inc. has a 12 month low of $106.30 and a 12 month high of $487.91. The company has a 50-day moving average price of $384.26 and a 200 day moving average price of $348.39.

Teradyne (NASDAQ:TER) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 103.9% on a year-over-year basis. As a group, equities analysts forecast that Teradyne, Inc. will post 9.1 EPS for the current year.

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.