Palouse Capital Management Inc. bought a new position in shares of KLA-Tencor Corporation (NASDAQ:KLAC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 63,718 shares of the semiconductor company’s stock, valued at approximately $6,754,000. KLA-Tencor Corporation accounts for about 2.3% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of KLA-Tencor Corporation by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,882,077 shares of the semiconductor company’s stock worth $1,544,879,000 after purchasing an additional 402,970 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of KLA-Tencor Corporation by 24,123.6% during the 2nd quarter. Janus Henderson Group PLC now owns 4,308,404 shares of the semiconductor company’s stock worth $394,262,000 after buying an additional 4,290,618 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of KLA-Tencor Corporation by 46.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,444,102 shares of the semiconductor company’s stock worth $259,075,000 after buying an additional 770,480 shares during the period. Northern Trust Corp boosted its holdings in shares of KLA-Tencor Corporation by 0.3% during the 2nd quarter. Northern Trust Corp now owns 1,988,424 shares of the semiconductor company’s stock worth $181,960,000 after buying an additional 6,922 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of KLA-Tencor Corporation by 56.3% during the 2nd quarter. Franklin Resources Inc. now owns 1,091,635 shares of the semiconductor company’s stock worth $99,899,000 after buying an additional 393,426 shares during the period. 89.08% of the stock is currently owned by institutional investors.

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Several research firms recently issued reports on KLAC. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $136.00 price objective on shares of KLA-Tencor Corporation in a report on Friday, October 27th. B. Riley reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $120.00) on shares of KLA-Tencor Corporation in a report on Friday, October 27th. Citigroup Inc. upped their target price on shares of KLA-Tencor Corporation from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a report on Thursday, October 19th. Finally, Stifel Nicolaus upped their target price on shares of KLA-Tencor Corporation from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $107.51.

KLA-Tencor Corporation (NASDAQ:KLAC) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.17. KLA-Tencor Corporation had a return on equity of 84.61% and a net margin of 27.82%. The business had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $946.86 million. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue was up 29.2% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.17%. KLA-Tencor Corporation’s payout ratio is presently 36.14%.

In other KLA-Tencor Corporation news, EVP Ahmad A. Khan sold 4,066 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $89.15, for a total transaction of $362,483.90. Following the transaction, the executive vice president now directly owns 5,489 shares in the company, valued at approximately $489,344.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Virendra A. Kirloskar sold 6,307 shares of the stock in a transaction that occurred 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 transaction, 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 83,672 shares of company stock worth $7,648,832 over the last quarter. 0.20% 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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