Arizona State Retirement System reduced its stake in shares of KLA-Tencor Corporation (NASDAQ:KLAC) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 51,180 shares of the semiconductor company’s stock after selling 600 shares during the period. Arizona State Retirement System’s holdings in KLA-Tencor Corporation were worth $4,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of KLA-Tencor Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,479,107 shares of the semiconductor company’s stock valued at $1,566,668,000 after buying an additional 482,997 shares during the period. Primecap Management Co. CA raised its position in shares of KLA-Tencor Corporation by 1.0% in the first quarter. Primecap Management Co. CA now owns 14,149,226 shares of the semiconductor company’s stock valued at $1,345,167,000 after buying an additional 140,530 shares during the period. BlackRock Inc. raised its position in shares of KLA-Tencor Corporation by 1,865.4% in the first quarter. BlackRock Inc. now owns 11,140,657 shares of the semiconductor company’s stock valued at $1,059,142,000 after buying an additional 10,573,812 shares during the period. State Street Corp raised its position in shares of KLA-Tencor Corporation by 6.7% in the first quarter. State Street Corp now owns 6,901,169 shares of the semiconductor company’s stock valued at $656,105,000 after buying an additional 436,022 shares during the period. Finally, American International Group Inc. raised its position in shares of KLA-Tencor Corporation by 1.3% in the first quarter. American International Group Inc. now owns 5,351,000 shares of the semiconductor company’s stock valued at $508,720,000 after buying an additional 66,248 shares during the period. 91.77% of the stock is currently owned by institutional investors.

KLA-Tencor Corporation (NASDAQ KLAC) opened at 91.50 on Tuesday. The company has a market cap of $14.35 billion, a price-to-earnings ratio of 15.56 and a beta of 1.62. KLA-Tencor Corporation has a 1-year low of $66.89 and a 1-year high of $109.59. The company’s 50-day moving average is $94.91 and its 200 day moving average is $95.85.

KLA-Tencor Corporation (NASDAQ:KLAC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. The business had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $923.80 million. During the same period in the prior year, the business posted $1.77 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that KLA-Tencor Corporation will post $6.70 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.59 dividend. The ex-dividend date is Friday, August 11th. This is a boost from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 2.58%. KLA-Tencor Corporation’s dividend payout ratio is presently 36.73%.

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Several research analysts have recently issued reports on KLAC shares. Stifel Nicolaus raised shares of KLA-Tencor Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $103.00 to $106.00 in a research note on Sunday, August 6th. They noted that the move was a valuation call. Cowen and Company reaffirmed a “buy” rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a research note on Tuesday, July 11th. BidaskClub lowered shares of KLA-Tencor Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $100.00 target price on shares of KLA-Tencor Corporation in a research note on Friday, April 28th. Finally, Zacks Investment Research lowered shares of KLA-Tencor Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.86.

In related news, insider Bobby R. Bell sold 5,695 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $100.54, for a total value of $572,575.30. Following the sale, the insider now directly owns 1 shares in the company, valued at $100.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Virendra A. Kirloskar sold 6,307 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $89.15, for a total value of $562,269.05. Following the completion of the sale, the senior vice president now owns 2,022 shares in the company, valued at $180,261.30. The disclosure for this sale can be found here. Insiders sold 38,615 shares of company stock worth $3,525,173 over the last quarter. 0.26% of the stock is currently owned by company insiders.

About KLA-Tencor Corporation

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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Institutional Ownership by Quarter for KLA-Tencor Corporation (NASDAQ:KLAC)

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