Kornitzer Capital Management Inc. KS boosted its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 14.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,555 shares of the semiconductor company’s stock after buying an additional 14,893 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.07% of KLA-Tencor worth $18,425,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its position in KLA-Tencor by 2.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 2,991 shares of the semiconductor company’s stock worth $477,000 after buying an additional 82 shares in the last quarter. Creative Planning lifted its position in KLA-Tencor by 1.5% in the 3rd quarter. Creative Planning now owns 11,405 shares of the semiconductor company’s stock worth $1,819,000 after buying an additional 166 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in KLA-Tencor in the 3rd quarter worth approximately $239,000. Bank Hapoalim BM lifted its position in KLA-Tencor by 3.4% in the 3rd quarter. Bank Hapoalim BM now owns 10,582 shares of the semiconductor company’s stock worth $1,677,000 after buying an additional 350 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in KLA-Tencor by 39.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 17,000 shares of the semiconductor company’s stock worth $2,711,000 after buying an additional 4,851 shares in the last quarter. Institutional investors own 87.35% of the company’s stock.
KLAC has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of KLA-Tencor from $165.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Credit Suisse Group raised their price target on shares of KLA-Tencor from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Cowen raised their price target on shares of KLA-Tencor from $170.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. BidaskClub upgraded shares of KLA-Tencor from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Co raised their price target on shares of KLA-Tencor from $150.00 to $175.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $176.08.
In related news, EVP Teri A. Little sold 3,029 shares of KLA-Tencor stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $141.62, for a total value of $428,966.98. Following the transaction, the executive vice president now owns 5,791 shares in the company, valued at approximately $820,121.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amichai Steimberg sold 8,962 shares of KLA-Tencor stock in a transaction on Monday, August 19th. The stock was sold at an average price of $138.80, for a total transaction of $1,243,925.60. Following the completion of the transaction, the chief executive officer now owns 19,892 shares in the company, valued at approximately $2,761,009.60. The disclosure for this sale can be found here. Insiders sold a total of 30,410 shares of company stock worth $4,535,477 in the last quarter. Insiders own 0.19% of the company’s stock.
Shares of KLA-Tencor stock traded up $1.69 during midday trading on Friday, reaching $173.64. 28,372 shares of the company’s stock traded hands, compared to its average volume of 1,410,325. The company has a market cap of $27.14 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.72. The company’s 50 day simple moving average is $162.87 and its 200 day simple moving average is $135.02. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.60 and a current ratio of 2.24. KLA-Tencor Corp has a 52 week low of $80.65 and a 52 week high of $175.43.
KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.28. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.35 billion. KLA-Tencor had a net margin of 23.03% and a return on equity of 54.53%. KLA-Tencor’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. As a group, equities research analysts predict that KLA-Tencor Corp will post 9.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.96%. This is an increase from KLA-Tencor’s previous quarterly dividend of $0.75. KLA-Tencor’s dividend payout ratio (DPR) is 35.46%.
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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