PNC Financial Services Group Inc. Acquires 2,310 Shares of Teradyne, Inc. $TER

PNC Financial Services Group Inc. boosted its stake in shares of Teradyne, Inc. (NASDAQ:TER) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,171 shares of the company’s stock after acquiring an additional 2,310 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Teradyne were worth $4,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of Teradyne by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,920,100 shares of the company’s stock worth $442,413,000 after purchasing an additional 143,058 shares in the last quarter. Federated Hermes Inc. raised its position in Teradyne by 79.7% in the 2nd quarter. Federated Hermes Inc. now owns 3,785,067 shares of the company’s stock worth $340,353,000 after purchasing an additional 1,679,215 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Teradyne by 11.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,473,173 shares of the company’s stock worth $490,134,000 after buying an additional 354,876 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Teradyne by 58.6% during the 2nd quarter. Primecap Management Co. CA now owns 3,047,558 shares of the company’s stock worth $274,036,000 after buying an additional 1,125,868 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Teradyne by 2.5% in the 2nd quarter. Invesco Ltd. now owns 2,859,466 shares of the company’s stock valued at $257,123,000 after buying an additional 68,568 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

Teradyne Stock Performance

Shares of NASDAQ:TER opened at $324.85 on Friday. The company has a 50 day moving average price of $240.98 and a two-hundred day moving average price of $178.43. The company has a market capitalization of $50.87 billion, a PE ratio of 93.35, a PEG ratio of 1.96 and a beta of 1.83. Teradyne, Inc. has a 52 week low of $65.77 and a 52 week high of $327.99.

Teradyne (NASDAQ:TER) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. Teradyne had a net margin of 17.37% and a return on equity of 22.68%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $970.44 million. During the same period last year, the firm posted $0.95 earnings per share. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. On average, sell-side analysts forecast that Teradyne, Inc. will post 3.88 earnings per share for the current year.

Teradyne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.1%. Teradyne’s dividend payout ratio (DPR) is currently 14.94%.

Wall Street Analysts Forecast Growth

TER has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on Teradyne from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded Teradyne from a “hold” rating to a “buy” rating in a research report on Saturday. Susquehanna restated a “positive” rating and set a $335.00 target price on shares of Teradyne in a research report on Wednesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Teradyne from $122.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, iA Financial set a $175.00 price target on shares of Teradyne in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $256.24.

Insider Buying and Selling

In related news, CEO Gregory Stephen Smith sold 1,108 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $201.31, for a total transaction of $223,051.48. Following the sale, the chief executive officer directly owned 93,409 shares in the company, valued at $18,804,165.79. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

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.