Principal Financial Group Inc. Sells 124,749 Shares of Teradyne, Inc. (NASDAQ:TER)

Principal Financial Group Inc. lowered its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 23.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 402,668 shares of the company's stock after selling 124,749 shares during the period. Principal Financial Group Inc. owned approximately 0.25% of Teradyne worth $53,929,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Teradyne in the 2nd quarter worth approximately $27,000. Rothschild Investment LLC bought a new position in shares of Teradyne during the second quarter valued at $33,000. Quarry LP lifted its holdings in shares of Teradyne by 256.1% during the second quarter. Quarry LP now owns 235 shares of the company's stock valued at $35,000 after acquiring an additional 169 shares during the period. Tortoise Investment Management LLC boosted its stake in shares of Teradyne by 76.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 273 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Teradyne by 3,800.0% in the 2nd quarter. Versant Capital Management Inc now owns 351 shares of the company's stock worth $52,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 99.77% of the company's stock.

Teradyne Stock Down 1.9 %

Shares of Teradyne stock traded down $2.08 during trading on Monday, reaching $108.81. 2,025,731 shares of the company were exchanged, compared to its average volume of 2,040,617. Teradyne, Inc. has a twelve month low of $85.75 and a twelve month high of $163.21. The business has a 50-day moving average price of $123.83 and a 200-day moving average price of $132.52. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 2.41 and a beta of 1.52.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The company had revenue of $737.30 million during the quarter, compared to analysts' expectations of $716.40 million. Teradyne had a return on equity of 18.56% and a net margin of 18.75%. Teradyne's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, equities research analysts forecast that Teradyne, Inc. will post 3.15 EPS for the current fiscal year.

Teradyne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. Teradyne's dividend payout ratio (DPR) is presently 15.24%.

Teradyne declared that its board has authorized a stock repurchase program on Monday, November 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TER shares. Susquehanna boosted their price target on shares of Teradyne from $130.00 to $145.00 and gave the company a "positive" rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on Teradyne from $120.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. Citigroup reduced their price objective on Teradyne from $185.00 to $162.00 and set a "buy" rating on the stock in a research note on Friday, July 26th. Northland Securities lowered their target price on Teradyne from $126.00 to $117.00 and set a "market perform" rating for the company in a research note on Friday, October 25th. Finally, Cantor Fitzgerald upgraded shares of Teradyne from a "neutral" rating to an "overweight" rating and set a $160.00 price target on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $142.62.

Insider Buying and Selling at Teradyne

In other Teradyne news, CFO Sanjay Mehta sold 6,153 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $133.06, for a total transaction of $818,718.18. Following the completion of the transaction, the chief financial officer now owns 35,834 shares of the company's stock, valued at $4,768,072.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Richard John Burns sold 789 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $132.80, for a total value of $104,779.20. Following the completion of the sale, the insider now owns 21,864 shares of the company's stock, valued at approximately $2,903,539.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Mehta sold 6,153 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $133.06, for a total transaction of $818,718.18. Following the transaction, the chief financial officer now owns 35,834 shares in the company, valued at approximately $4,768,072.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,352 shares of company stock valued at $1,899,353. 0.36% of the stock is currently owned by corporate insiders.

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.