Municipal Employees Retirement System of Michigan cut its stake in shares of KLA-Tencor Corporation (NASDAQ:KLAC) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,420 shares of the semiconductor company’s stock after selling 990 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in KLA-Tencor Corporation were worth $1,210,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Adviser Investments LLC grew its stake in shares of KLA-Tencor Corporation by 39.8% during the third quarter. Adviser Investments LLC now owns 38,524 shares of the semiconductor company’s stock worth $4,084,000 after purchasing an additional 10,965 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of KLA-Tencor Corporation by 1.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 322,270 shares of the semiconductor company’s stock worth $29,491,000 after purchasing an additional 4,477 shares during the period. Utah Retirement Systems grew its stake in shares of KLA-Tencor Corporation by 0.4% during the second quarter. Utah Retirement Systems now owns 28,630 shares of the semiconductor company’s stock worth $2,620,000 after purchasing an additional 100 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of KLA-Tencor Corporation by 120.8% during the second quarter. OMERS ADMINISTRATION Corp now owns 40,400 shares of the semiconductor company’s stock worth $3,697,000 after purchasing an additional 22,100 shares during the period. Finally, Korea Investment CORP grew its stake in shares of KLA-Tencor Corporation by 21.5% during the third quarter. Korea Investment CORP now owns 141,451 shares of the semiconductor company’s stock worth $14,994,000 after purchasing an additional 25,000 shares during the period. 91.26% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on KLAC. Credit Suisse Group reiterated an “outperform” rating on shares of KLA-Tencor Corporation in a report on Thursday, August 31st. Goldman Sachs Group, Inc. (The) lowered KLA-Tencor Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $108.00 to $97.00 in a report on Wednesday, September 13th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of KLA-Tencor Corporation in a report on Friday, September 1st. B. Riley reiterated a “buy” rating and set a $129.00 target price (up from $120.00) on shares of KLA-Tencor Corporation in a report on Friday, October 27th. Finally, BidaskClub lowered KLA-Tencor Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $107.51.
Shares of KLA-Tencor Corporation (KLAC) opened at $102.51 on Tuesday. KLA-Tencor Corporation has a twelve month low of $74.66 and a twelve month high of $110.00. The stock has a market capitalization of $16,080.00, a PE ratio of 15.45 and a beta of 1.68. The company has a current ratio of 3.11, a quick ratio of 2.59 and a debt-to-equity ratio of 1.72.
KLA-Tencor Corporation (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.17. The firm had revenue of $970.00 million for the quarter, compared to the consensus estimate of $946.86 million. KLA-Tencor Corporation had a return on equity of 84.61% and a net margin of 27.82%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. analysts expect that KLA-Tencor Corporation will post 7.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Tuesday, November 14th. KLA-Tencor Corporation’s dividend payout ratio (DPR) is presently 36.20%.
In other news, SVP Brian Lorig sold 2,893 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $95.24, for a total value of $275,529.32. Following the transaction, the senior vice president now owns 566 shares of the company’s stock, valued at $53,905.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Virendra A. Kirloskar sold 1,020 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $93.73, for a total value of $95,604.60. Following the completion of the transaction, the senior vice president now directly owns 297 shares in the company, valued at approximately $27,837.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,025 shares of company stock worth $4,088,345. Company insiders own 0.20% of the company’s stock.
KLA-Tencor Corporation Company Profile
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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