Advisors Asset Management Inc. cut its stake in shares of KLA-Tencor Corp (NASDAQ:KLAC) by 11.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,362 shares of the semiconductor company’s stock after selling 814 shares during the quarter. Advisors Asset Management Inc.’s holdings in KLA-Tencor were worth $652,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 acquiring an additional 679 shares during the period. Sonora Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 960 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of KLA-Tencor during the second quarter valued at $181,000. First Mercantile Trust Co. lifted its holdings in shares of KLA-Tencor by 41.1% during the second quarter. First Mercantile Trust Co. now owns 1,833 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 534 shares during the period. Finally, Vident Investment Advisory LLC bought a new position in shares of KLA-Tencor during the second quarter valued at $225,000. 92.11% of the stock is owned by institutional investors.
Shares of NASDAQ:KLAC opened at $92.51 on Tuesday. KLA-Tencor Corp has a twelve month low of $84.59 and a twelve month high of $123.96. The firm has a market capitalization of $14.28 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.42 and a beta of 1.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.45 and a quick ratio of 2.69.
KLA-Tencor (NASDAQ:KLAC) last announced its earnings results on Monday, October 29th. The semiconductor company reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.25. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. KLA-Tencor had a return on equity of 93.99% and a net margin of 22.05%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. Equities analysts anticipate that KLA-Tencor Corp will post 9.16 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Citigroup lowered their target price on KLA-Tencor from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Evercore ISI lowered their target price on KLA-Tencor to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Zacks Investment Research lowered KLA-Tencor from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Cowen raised their target price on KLA-Tencor from $140.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus raised their target price on KLA-Tencor from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $129.54.
In related news, insider Brian M. Trafas sold 649 shares of KLA-Tencor stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $116.42, for a total value of $75,556.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Lorig sold 2,547 shares of KLA-Tencor stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $117.37, for a total value of $298,941.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,022 shares of company stock valued at $4,294,007. Corporate insiders own 0.19% of the company’s stock.
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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