State Board of Administration of Florida Retirement System lowered its position in KLA-Tencor Corp (NASDAQ:KLAC) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,437 shares of the semiconductor company’s stock after selling 7,771 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of KLA-Tencor worth $19,573,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in KLAC. Beutel Goodman & Co Ltd. purchased a new position in KLA-Tencor in the third quarter worth $67,554,000. Capital Management Corp VA grew its position in KLA-Tencor by 9.7% in the third quarter. Capital Management Corp VA now owns 134,765 shares of the semiconductor company’s stock worth $13,707,000 after acquiring an additional 11,900 shares in the last quarter. Ardevora Asset Management LLP grew its position in KLA-Tencor by 15.6% in the third quarter. Ardevora Asset Management LLP now owns 356,504 shares of the semiconductor company’s stock worth $36,260,000 after acquiring an additional 48,000 shares in the last quarter. Arizona State Retirement System grew its position in KLA-Tencor by 2.2% in the third quarter. Arizona State Retirement System now owns 61,405 shares of the semiconductor company’s stock worth $6,246,000 after acquiring an additional 1,309 shares in the last quarter. Finally, GWM Advisors LLC grew its position in KLA-Tencor by 8.0% in the third quarter. GWM Advisors LLC now owns 15,376 shares of the semiconductor company’s stock worth $1,564,000 after acquiring an additional 1,141 shares in the last quarter. 92.11% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ KLAC opened at $95.28 on Friday. The company has a quick ratio of 2.69, a current ratio of 3.45 and a debt-to-equity ratio of 1.43. KLA-Tencor Corp has a 12-month low of $84.59 and a 12-month high of $123.96. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.55.
KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings results on Monday, October 29th. The semiconductor company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.25. KLA-Tencor had a net margin of 22.05% and a return on equity of 93.99%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $1.80 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts predict that KLA-Tencor Corp will post 9.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Saturday, November 17th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.00 annualized dividend and a yield of 3.15%. KLA-Tencor’s payout ratio is 37.50%.
Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of KLA-Tencor from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Deutsche Bank cut their target price on shares of KLA-Tencor from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. KeyCorp cut their price target on shares of KLA-Tencor from $152.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, October 30th. B. Riley upped their price target on shares of KLA-Tencor from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Finally, Cowen set a $120.00 price target on shares of KLA-Tencor and gave the company an “outperform” rating in a research report on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $129.54.
In other news, insider Brian M. Trafas sold 649 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $116.42, for a total transaction of $75,556.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teri A. Little sold 2,579 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $117.30, for a total transaction of $302,516.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,387 shares of company stock valued at $2,356,956. Company insiders own 0.19% of the company’s stock.
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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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