Mitsubishi UFJ Asset Management Co. Ltd. Buys New Holdings in Teradyne, Inc. $TER

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Teradyne, Inc. (NASDAQ:TER) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 401,144 shares of the company’s stock, valued at approximately $194,090,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TER. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Teradyne during the 4th quarter worth about $28,000. Community Financial Services Group LLC acquired a new position in Teradyne in the 2nd quarter valued at about $29,000. McIlrath & Eck LLC acquired a new position in Teradyne in the 1st quarter valued at about $30,000. Elevation Wealth Partners LLC raised its holdings in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company’s stock valued at $34,000 after acquiring an additional 66 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in Teradyne in the 2nd quarter valued at about $35,000. Institutional investors own 99.77% of the company’s stock.

Teradyne Stock Up 5.8%

NASDAQ TER opened at $443.14 on Tuesday. The firm has a 50-day moving average price of $385.63 and a two-hundred day moving average price of $350.65. Teradyne, Inc. has a 12-month low of $106.30 and a 12-month high of $487.91. The company has a market capitalization of $69.28 billion, a P/E ratio of 60.79, a P/E/G ratio of 0.85 and a beta of 1.78.

Teradyne (NASDAQ:TER) last announced its earnings results on Wednesday, July 29th. The company reported $2.47 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 103.9% on a year-over-year basis. Equities analysts expect that Teradyne, Inc. will post 9.1 EPS for the current year.

Insider Buying and Selling

In other Teradyne news, CEO Gregory Stephen Smith sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon John Poulin sold 656 shares of Teradyne stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $355.00, for a total value of $232,880.00. Following the completion of the transaction, the insider directly owned 15,722 shares of the company’s stock, valued at $5,581,310. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 5,664 shares of company stock worth $2,273,133 in the last three months. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TER. Robert W. Baird set a $420.00 price objective on Teradyne in a report on Thursday, July 30th. Susquehanna increased their target price on Teradyne from $415.00 to $550.00 and gave the stock a “positive” rating in a research note on Tuesday, June 30th. Zacks Research raised Teradyne from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Bank of America upped their price objective on Teradyne from $365.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $396.80.

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.