PNC Financial Services Group Inc. Purchases 8,302 Shares of Teradyne, Inc. $TER

PNC Financial Services Group Inc. lifted its position in shares of Teradyne, Inc. (NASDAQ:TER) by 44.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,861 shares of the company’s stock after purchasing an additional 8,302 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Teradyne were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Teradyne by 73.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,585 shares of the company’s stock worth $412,000 after acquiring an additional 1,939 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Teradyne by 3.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 277,002 shares of the company’s stock worth $24,908,000 after purchasing an additional 9,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Teradyne by 17.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,760 shares of the company’s stock worth $11,893,000 after purchasing an additional 21,219 shares during the period. Machina Capital S.A.S. lifted its stake in Teradyne by 96.3% during the second quarter. Machina Capital S.A.S. now owns 5,425 shares of the company’s stock worth $488,000 after purchasing an additional 2,661 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its holdings in Teradyne by 60.9% during the second quarter. Cornercap Investment Counsel Inc. now owns 9,130 shares of the company’s stock valued at $821,000 after purchasing an additional 3,454 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TER. Citigroup raised their target price on Teradyne from $117.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Bank of America upgraded Teradyne from an “underperform” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Wednesday, October 29th. Robert W. Baird set a $195.00 price objective on Teradyne in a report on Friday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Teradyne from $122.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Teradyne in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Teradyne has an average rating of “Moderate Buy” and an average price target of $171.25.

Insider Activity

In related news, CEO Gregory Stephen Smith sold 1,108 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $180.20, for a total value of $199,661.60. Following the transaction, the chief executive officer owned 94,517 shares in the company, valued at $17,031,963.40. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 3,324 shares of company stock worth $494,318 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Teradyne Trading Down 2.2%

Shares of TER stock opened at $163.72 on Wednesday. Teradyne, Inc. has a 1 year low of $65.77 and a 1 year high of $191.56. The firm’s 50 day moving average is $147.31 and its 200-day moving average is $113.41. The firm has a market capitalization of $25.64 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 3.64 and a beta of 1.90.

Teradyne (NASDAQ:TER) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Teradyne had a net margin of 15.49% and a return on equity of 18.04%. The business had revenue of $769.21 million during the quarter, compared to analyst estimates of $744.20 million. During the same quarter last year, the business posted $0.90 earnings per share. Teradyne’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current fiscal year.

Teradyne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, November 24th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. Teradyne’s payout ratio is presently 17.45%.

About Teradyne

Teradyne, Inc designs, develops, manufactures, and sells automated test systems and robotics products worldwide. It operates through four segments; Semiconductor Test, System Test, Robotics, and Wireless Test. The Semiconductor Test segment offers products and services for wafer level and device package testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications.