Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Lowers Stake in KLA-Tencor Corporation (KLAC)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in KLA-Tencor Corporation (NASDAQ:KLAC) by 10.2% during the second quarter, Holdings Channel reports. The fund owned 22,593 shares of the semiconductor company’s stock after selling 2,562 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in KLA-Tencor Corporation were worth $2,067,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its stake in KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 290 shares during the last quarter. Cohen Capital Management Inc. purchased a new stake in KLA-Tencor Corporation during the first quarter valued at $119,000. Ledyard National Bank purchased a new stake in KLA-Tencor Corporation during the first quarter valued at $135,000. Trust Co. of Vermont boosted its stake in KLA-Tencor Corporation by 3.2% in the first quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 45 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in KLA-Tencor Corporation by 82.4% in the first quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 928 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.
KLA-Tencor Corporation (NASDAQ:KLAC) opened at 91.02 on Wednesday. The stock’s 50 day moving average price is $94.76 and its 200-day moving average price is $95.89. The firm has a market cap of $14.28 billion, a PE ratio of 15.48 and a beta of 1.62. KLA-Tencor Corporation has a 12-month low of $66.89 and a 12-month high of $109.59.
KLA-Tencor Corporation (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $938.60 million for the quarter, compared to the consensus estimate of $923.80 million. During the same quarter last year, the business posted $1.77 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that KLA-Tencor Corporation will post $6.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. KLA-Tencor Corporation’s dividend payout ratio (DPR) is 40.14%.
Several research firms recently weighed in on KLAC. BidaskClub cut KLA-Tencor Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Credit Suisse Group set a $115.00 price objective on KLA-Tencor Corporation and gave the company a “buy” rating in a report on Saturday, July 29th. B. Riley reaffirmed a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Wednesday, August 2nd. UBS AG reaffirmed a “neutral” rating and issued a $110.00 price objective on shares of KLA-Tencor Corporation in a report on Tuesday, June 13th. Finally, Needham & Company LLC lifted their price objective on KLA-Tencor Corporation from $105.00 to $120.00 and gave the company a “strong-buy” rating in a report on Friday, April 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $98.86.
In related news, SVP Virendra A. Kirloskar sold 6,307 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.15, for a total value of $562,269.05. Following the sale, the senior vice president now owns 2,022 shares in the company, valued at $180,261.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Virendra A. Kirloskar sold 314 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $91.74, for a total value of $28,806.36. Following the completion of the sale, the senior vice president now owns 611 shares in the company, valued at approximately $56,053.14. The disclosure for this sale can be found here. Insiders sold 38,615 shares of company stock worth $3,525,173 in the last quarter. 0.26% of the stock is currently owned by company insiders.
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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