Bank of New York Mellon Corp Acquires 5,521 Shares of Teradyne, Inc. $TER

Bank of New York Mellon Corp boosted its stake in Teradyne, Inc. (NASDAQ:TER) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 885,318 shares of the company’s stock after buying an additional 5,521 shares during the period. Bank of New York Mellon Corp owned 0.57% of Teradyne worth $262,461,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Teradyne by 656.4% in the 4th quarter. Nordea Investment Management AB now owns 125,312 shares of the company’s stock worth $24,554,000 after purchasing an additional 108,745 shares during the period. Gouws Capital LLC increased its stake in Teradyne by 96.0% during the fourth quarter. Gouws Capital LLC now owns 15,323 shares of the company’s stock worth $2,966,000 after acquiring an additional 7,505 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Teradyne by 3,233.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 910,023 shares of the company’s stock worth $176,144,000 after acquiring an additional 882,723 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in 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 acquiring an additional 10,526 shares during the period. Finally, Merit Financial Group LLC increased its stake in 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 purchasing an additional 2,986 shares during the period. 99.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TER. UBS Group raised their price objective on Teradyne from $325.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised shares of Teradyne from a “neutral” rating to an “overweight” rating and set a $400.00 price objective on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald boosted their price objective on shares of Teradyne from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Citigroup upped their price target on Teradyne from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded Teradyne from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.53.

Teradyne Trading Up 0.0%

NASDAQ TER opened at $322.36 on Friday. The stock has a market capitalization of $50.46 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 0.93 and a beta of 1.74. The stock has a 50-day moving average of $382.06 and a 200 day moving average of $327.17. Teradyne, Inc. has a twelve month low of $89.18 and a twelve month high of $487.91.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, April 29th. The company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s quarterly revenue was up 87.0% on a year-over-year basis. Equities analysts predict that Teradyne, Inc. will post 7.2 EPS for the current fiscal year.

Teradyne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a $0.13 dividend. This is an increase from Teradyne’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. Teradyne’s payout ratio is 9.63%.

Insider Transactions at Teradyne

In other Teradyne news, VP Ryan Driscoll sold 680 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the sale, the vice president directly owned 7,665 shares of the company’s stock, valued at $2,894,304. This trade represents a 8.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 8,597 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $338.98, for a total transaction of $2,914,211.06. Following the transaction, the chief executive officer directly owned 124,470 shares in the company, valued at approximately $42,192,840.60. The trade was a 6.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,941 shares of company stock worth $5,444,112 in the last ninety days. 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.