KLA-Tencor (KLAC) Downgraded by BidaskClub
BidaskClub lowered shares of KLA-Tencor (NASDAQ:KLAC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered KLA-Tencor from a buy rating to a hold rating in a research report on Tuesday, July 24th. Evercore ISI raised KLA-Tencor from an in-line rating to an outperform rating and lifted their target price for the stock from $130.00 to $140.00 in a research report on Tuesday, September 4th. Stifel Nicolaus lifted their target price on KLA-Tencor from $143.00 to $152.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Citigroup lowered their price objective on KLA-Tencor from $127.00 to $123.00 and set a buy rating for the company in a report on Friday, July 13th. Finally, Deutsche Bank boosted their price objective on KLA-Tencor from $115.00 to $122.00 and gave the company a buy rating in a report on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $136.28.
Shares of NASDAQ KLAC opened at $104.52 on Thursday. KLA-Tencor has a 1 year low of $96.12 and a 1 year high of $123.96. The stock has a market cap of $16.32 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.57. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.97 and a current ratio of 3.73.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Wednesday, August 15th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, August 14th. KLA-Tencor’s dividend payout ratio is currently 37.50%.
In related news, insider Brian M. Trafas sold 649 shares of the business’s 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 link. Also, CAO Virendra A. Kirloskar sold 1,535 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $116.69, for a total value of $179,119.15. Following the completion of the sale, the chief accounting officer now directly owns 1,556 shares of the company’s stock, valued at $181,569.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,115 shares of company stock valued at $6,100,246. 0.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. acquired a new position in KLA-Tencor in the second quarter valued at approximately $10,204,000. Exane Asset Management acquired a new position in KLA-Tencor in the second quarter valued at approximately $165,000. Schroder Investment Management Group boosted its stake in KLA-Tencor by 63.0% in the second quarter. Schroder Investment Management Group now owns 1,005,470 shares of the semiconductor company’s stock valued at $102,367,000 after acquiring an additional 388,591 shares during the period. Public Employees Retirement System of Ohio boosted its stake in KLA-Tencor by 40.1% in the second quarter. Public Employees Retirement System of Ohio now owns 92,844 shares of the semiconductor company’s stock valued at $9,519,000 after acquiring an additional 26,570 shares during the period. Finally, Guinness Asset Management Ltd boosted its stake in KLA-Tencor by 13.6% in the second quarter. Guinness Asset Management Ltd now owns 59,730 shares of the semiconductor company’s stock valued at $6,124,000 after acquiring an additional 7,160 shares during the period. Institutional investors own 91.77% of the company’s stock.
KLA-Tencor Company Profile
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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