State of Michigan Retirement System Purchases 2,200 Shares of Teradyne, Inc. $TER

State of Michigan Retirement System boosted its position in shares of Teradyne, Inc. (NASDAQ:TER) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TER. Integrated Wealth Concepts LLC raised its holdings in Teradyne by 12.8% in the first quarter. Integrated Wealth Concepts LLC now owns 4,136 shares of the company’s stock worth $342,000 after buying an additional 468 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Teradyne in the first quarter worth approximately $297,000. Cresset Asset Management LLC grew its holdings in shares of Teradyne by 11.6% during the second quarter. Cresset Asset Management LLC now owns 6,759 shares of the company’s stock valued at $608,000 after buying an additional 702 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Teradyne by 467.1% during the second quarter. NewEdge Advisors LLC now owns 3,408 shares of the company’s stock valued at $306,000 after buying an additional 2,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Teradyne by 5.1% during the second quarter. Treasurer of the State of North Carolina now owns 75,125 shares of the company’s stock valued at $6,755,000 after acquiring an additional 3,651 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Teradyne Trading Up 2.0%

Shares of TER opened at $418.79 on Friday. The firm has a fifty day simple moving average of $384.26 and a two-hundred day simple moving average of $348.39. The firm has a market cap of $65.47 billion, a PE ratio of 57.45, a P/E/G ratio of 0.83 and a beta of 1.78. Teradyne, Inc. has a 1-year low of $106.30 and a 1-year high of $487.91.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Teradyne from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and set a $420.00 target price on shares of Teradyne in a research note on Thursday, July 30th. UBS Group lifted their target price on Teradyne from $440.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Weiss Ratings upgraded Teradyne from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley upped their price target on Teradyne from $387.00 to $397.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $396.80.

Insider Transactions at Teradyne

In other Teradyne news, insider Shannon John Poulin sold 1,008 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $345.37, for a total transaction of $348,132.96. Following the completion of the sale, the insider directly owned 15,066 shares in the company, valued at $5,203,344.42. The trade was a 6.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the sale, the chief executive officer directly owned 120,470 shares of the company’s stock, valued at $50,962,424.10. The trade was 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 three months, insiders sold 5,664 shares of company stock worth $2,273,133. 0.19% of the stock is owned by corporate 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.