Principal Financial Group Inc. Reduces Position in Teradyne, Inc. (NYSE:TER)

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Principal Financial Group Inc. decreased its holdings in Teradyne, Inc. (NYSE:TER) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,028,373 shares of the semiconductor company’s stock after selling 15,156 shares during the quarter. Principal Financial Group Inc.’s holdings in Teradyne were worth $40,970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PRW Wealth Management LLC purchased a new position in shares of Teradyne in the fourth quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in Teradyne during the first quarter valued at approximately $29,000. Capital Financial Planning LLC purchased a new position in Teradyne during the fourth quarter valued at approximately $31,000. Exane Derivatives purchased a new position in Teradyne during the first quarter valued at approximately $36,000. Finally, Zions Bancorporation N.A. purchased a new position in Teradyne during the first quarter valued at approximately $50,000.

TER has been the topic of several analyst reports. Robert W. Baird raised shares of Teradyne from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $39.00 to $55.00 in a report on Thursday, April 25th. Craig Hallum downgraded shares of Teradyne from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Zacks Investment Research raised shares of Teradyne from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of Teradyne from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, DA Davidson lifted their price target on shares of Teradyne to $48.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Teradyne currently has a consensus rating of “Hold” and an average price target of $45.60.

NYSE:TER traded down $1.57 during trading hours on Wednesday, hitting $45.79. 30,390 shares of the stock traded hands, compared to its average volume of 2,309,932. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.10 and a quick ratio of 3.76. Teradyne, Inc. has a 1 year low of $28.73 and a 1 year high of $49.83. The company has a market capitalization of $7.89 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.02 and a beta of 1.25.

Teradyne (NYSE:TER) last released its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.10. The firm had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $476.23 million. Teradyne had a net margin of 9.81% and a return on equity of 23.50%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that Teradyne, Inc. will post 2.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, May 28th. Teradyne’s payout ratio is currently 15.38%.

In other news, CFO Gregory R. Beecher sold 40,296 shares of Teradyne stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $47.97, for a total transaction of $1,932,999.12. Following the sale, the chief financial officer now owns 46,322 shares in the company, valued at $2,222,066.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brad Robbins sold 10,000 shares of Teradyne stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $49.46, for a total transaction of $494,600.00. Following the sale, the insider now owns 43,840 shares in the company, valued at approximately $2,168,326.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,345 shares of company stock worth $3,751,648. Company insiders own 0.49% of the company’s stock.

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About Teradyne

Teradyne, Inc designs, develops, manufactures, sells, and supports automatic test equipment worldwide. Its Semiconductor Test segment offers semiconductor test products and services for wafer level and device package testing in automotive, industrial, communications, consumer, computer and electronic game, and other applications.

Further Reading: Why is insider trading harmful?

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Institutional Ownership by Quarter for Teradyne (NYSE:TER)

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