Lau Associates LLC boosted its holdings in shares of KLA-Tencor Corp (NASDAQ:KLAC) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,900 shares of the semiconductor company’s stock after buying an additional 2,000 shares during the quarter. KLA-Tencor makes up about 1.0% of Lau Associates LLC’s investment portfolio, making the stock its 29th largest holding. Lau Associates LLC’s holdings in KLA-Tencor were worth $1,821,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Financial Gravity Wealth Inc. purchased a new position in KLA-Tencor during the first quarter valued at approximately $106,000. Northwestern Mutual Wealth Management Co. lifted its holdings in KLA-Tencor by 187.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,042 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 679 shares in the last quarter. Sonora Investment Management LLC lifted its holdings in KLA-Tencor by 905.7% during the second quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 960 shares in the last quarter. Exane Asset Management purchased a new position in KLA-Tencor during the second quarter valued at approximately $165,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of KLA-Tencor in the second quarter worth $181,000. Institutional investors own 91.82% of the company’s stock.
In related news, CAO Virendra A. Kirloskar sold 1,535 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $116.69, for a total value of $179,119.15. Following the sale, the chief accounting officer now owns 1,556 shares in the company, valued at $181,569.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 2,609 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $116.55, for a total transaction of $304,078.95. Following the completion of the sale, the chief financial officer now owns 13,089 shares in the company, valued at approximately $1,525,522.95. The disclosure for this sale can be found here. Insiders sold 51,880 shares of company stock worth $6,075,839 in the last 90 days. 0.20% of the stock is currently owned by company insiders.
Several research firms have recently commented on KLAC. Citigroup lowered their target price on shares of KLA-Tencor from $128.00 to $121.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. BidaskClub downgraded shares of KLA-Tencor from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. ValuEngine downgraded shares of KLA-Tencor from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Evercore ISI raised shares of KLA-Tencor from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $130.00 to $140.00 in a report on Tuesday, September 4th. Finally, Zacks Investment Research raised shares of KLA-Tencor from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $136.14.
KLAC traded up $1.43 during trading hours on Friday, hitting $93.20. The company’s stock had a trading volume of 110,829 shares, compared to its average volume of 1,518,075. KLA-Tencor Corp has a 12 month low of $91.29 and a 12 month high of $123.96. The stock has a market capitalization of $15.88 billion, a PE ratio of 11.66, a P/E/G ratio of 1.12 and a beta of 1.57. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.97 and a current ratio of 3.73.
KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings results on Monday, July 30th. The semiconductor company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.08. KLA-Tencor had a net margin of 19.87% and a return on equity of 88.65%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. KLA-Tencor’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, research analysts forecast that KLA-Tencor Corp will post 9.28 earnings per share for the current year.
KLA-Tencor Company Profile
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
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