Bowling Portfolio Management LLC cut its holdings in KLA-Tencor Corp (NASDAQ:KLAC) by 34.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,661 shares of the semiconductor company’s stock after selling 18,193 shares during the quarter. Bowling Portfolio Management LLC’s holdings in KLA-Tencor were worth $3,554,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in KLAC. Financial Gravity Wealth Inc. acquired a new stake in KLA-Tencor in the first quarter worth about $106,000. Institutional & Family Asset Management LLC acquired a new stake in KLA-Tencor in the first quarter worth about $107,000. Sonora Investment Management LLC increased its position in KLA-Tencor by 905.7% in the second quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 960 shares during the period. Silvant Capital Management LLC acquired a new stake in KLA-Tencor in the first quarter worth about $123,000. Finally, First Mercantile Trust Co. increased its position in KLA-Tencor by 121.7% in the first quarter. First Mercantile Trust Co. now owns 1,299 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 713 shares during the period. Institutional investors own 90.82% of the company’s stock.
In other news, CFO Bren D. Higgins sold 2,609 shares of KLA-Tencor stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $116.55, for a total transaction of $304,078.95. Following the transaction, the chief financial officer now owns 13,089 shares in the company, valued at approximately $1,525,522.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Virendra A. Kirloskar sold 1,537 shares of KLA-Tencor stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $118.87, for a total value of $182,703.19. The disclosure for this sale can be found here. Insiders have sold a total of 28,763 shares of company stock valued at $3,383,491 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.
KLA-Tencor (NASDAQ:KLAC) last posted its earnings results on Monday, July 30th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. KLA-Tencor had a return on equity of 88.65% and a net margin of 19.87%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. equities analysts forecast that KLA-Tencor Corp will post 9.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.63%. KLA-Tencor’s payout ratio is currently 37.50%.
A number of analysts recently commented on KLAC shares. Zacks Investment Research lowered KLA-Tencor from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Stifel Nicolaus lifted their price objective on KLA-Tencor from $139.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. Credit Suisse Group lowered their price objective on KLA-Tencor from $134.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, April 27th. Citigroup lowered their price objective on KLA-Tencor from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Finally, KeyCorp lifted their price objective on KLA-Tencor from $151.00 to $152.00 and gave the stock an “overweight” rating in a research report on Friday, April 27th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $132.33.
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products.
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