Insider Selling: KLA-Tencor Corporation (NASDAQ:KLAC) Insider Sells 5,692 Shares of Stock
KLA-Tencor Corporation (NASDAQ:KLAC) insider Brian M. Trafas sold 5,692 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.15, for a total value of $507,441.80. Following the completion of the sale, the insider now owns 3,450 shares in the company, valued at approximately $307,567.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of KLA-Tencor Corporation (NASDAQ KLAC) traded down 1.45% during mid-day trading on Tuesday, hitting $90.68. The company had a trading volume of 1,319,499 shares. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 15.42 and a beta of 1.62. The stock’s 50-day moving average is $96.19 and its 200-day moving average is $95.29. KLA-Tencor Corporation has a 52-week low of $66.88 and a 52-week high of $109.59.
KLA-Tencor Corporation (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. The firm had revenue of $938.60 million during the quarter, compared to analyst estimates of $923.80 million. During the same period in the previous year, the company earned $1.77 earnings per share. KLA-Tencor Corporation’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, August 11th. This is an increase from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a dividend yield of 2.60%. KLA-Tencor Corporation’s payout ratio is currently 36.73%.
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Several brokerages have recently commented on KLAC. Deutsche Bank AG restated a “hold” rating and set a $100.00 price target (up previously from $85.00) on shares of KLA-Tencor Corporation in a research note on Saturday, April 29th. Zacks Investment Research downgraded KLA-Tencor Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Cowen and Company raised their price target on KLA-Tencor Corporation from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, June 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $103.00 price target (up previously from $102.00) on shares of KLA-Tencor Corporation in a report on Sunday, July 30th. Finally, Credit Suisse Group set a $115.00 price target on KLA-Tencor Corporation and gave the stock a “buy” rating in a report on Saturday, July 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. KLA-Tencor Corporation currently has an average rating of “Hold” and an average target price of $98.86.
Several institutional investors have recently modified their holdings of the company. Grove Bank & Trust increased its stake in KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock worth $114,000 after buying an additional 290 shares during the period. Cohen Capital Management Inc. bought a new position in KLA-Tencor Corporation during the first quarter valued at about $119,000. Ledyard National Bank bought a new position in KLA-Tencor Corporation during the first quarter valued at about $135,000. Trust Co. of Vermont boosted its position in KLA-Tencor Corporation by 3.2% in the first quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 45 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in KLA-Tencor Corporation by 82.4% in the first quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 928 shares in the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.
About KLA-Tencor Corporation
KLA-Tencor Corporation (KLA-Tencor) is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The Company’s products are also used in a number of other high technology industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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