Teradyne Inc [TER]

First Call/Thomson Financial Insiders' Chronicle, July 26, 1999

The Street likes Teradyne. Price targets have been set well above the $80 mark, but along with the list of positives, there is some marked caution on the part of some analysts. Teradyne's competitors are no small force. Growth in the semiconductor industry year to year is volatile at best. Insiders, no strangers to profit taking are selling shares as the stock climbs.

The sales have resulted in not insignificant holdings reductions. In summary of their activity, thirteen insiders sold a total of 251,150 largely option-related (of the total over 80% of the options are not set to expire until at least mid 2000) at prices ranging from $55.63 to $68.63 per share from May 20 to June 18. Leading the way among sellers, Director James Prestige dropped 60,000 shares. This transaction represents some 20% of his actionable position (exercisable options and common stock). VP Joseph Dias sold 31,000 option-related shares. VP John Casey dropped 30,600 options related shares, thereby reducing his actionable position by 60%. VP Edward Rogas sold 30,000 shares, thereby skimming roughly 20% of his actionable position. Director Owen Robbins exercised options for and sold 20,000 shares, likewise, President George Chamillard dropped 20,000 shares. VP and Treasurer Stuart Osattin sold 13,200 shares. VP Jeffrey Hotchkiss exercised options for and sold 12,000 shares, reducing his actionable position by almost 20%. Combined, VP David Sulman and Executive Donald Hamman sold 20,000 shares. VP John McCabe dropped some 6,600 shares, while VP Michael Bradley dropped 5,000 shares. Director Vincent O'Reilly dumped 2,750 shares, thereby reducing his actionable position by 50%. TER manufactures automatic test equipment and related software for the electronics and communications industries, offering systems for testing semiconductors, circuit boards, phone lines, networks and software.