Retirement Systems of Alabama Raises Position in KLA-Tencor Corporation (NASDAQ:KLAC)
Retirement Systems of Alabama increased its stake in shares of KLA-Tencor Corporation (NASDAQ:KLAC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,007 shares of the semiconductor company’s stock after buying an additional 247 shares during the period. Retirement Systems of Alabama’s holdings in KLA-Tencor Corporation were worth $6,955,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of KLAC. Rehmann Capital Advisory Group bought a new stake in KLA-Tencor Corporation during the first quarter valued at $270,000. Mn Services Vermogensbeheer B.V. increased its stake in KLA-Tencor Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,178 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 187 shares during the period. Navellier & Associates Inc bought a new stake in KLA-Tencor Corporation during the first quarter valued at $234,000. State of Alaska Department of Revenue bought a new stake in KLA-Tencor Corporation during the first quarter valued at $1,521,000. Finally, Ledyard National Bank bought a new stake in KLA-Tencor Corporation during the first quarter valued at $135,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
Shares of KLA-Tencor Corporation (NASDAQ KLAC) opened at 91.50 on Tuesday. The stock has a market capitalization of $14.35 billion, a PE ratio of 15.56 and a beta of 1.62. The stock’s 50 day moving average is $94.91 and its 200 day moving average is $95.85. KLA-Tencor Corporation has a 52-week low of $66.89 and a 52-week high of $109.59.
KLA-Tencor Corporation (NASDAQ:KLAC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $923.80 million. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 88.61%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 earnings per share. Equities research analysts expect that KLA-Tencor Corporation will post $6.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.59 dividend. 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. This represents a $2.36 annualized dividend and a dividend yield of 2.58%. KLA-Tencor Corporation’s dividend payout ratio is 36.73%.
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Several brokerages have commented on KLAC. Cowen and Company raised their price target on shares of KLA-Tencor Corporation from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $100.00 price target on shares of KLA-Tencor Corporation in a research report on Friday, April 28th. Needham & Company LLC raised their price target on shares of KLA-Tencor Corporation from $105.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Friday, April 28th. B. Riley reissued a “buy” rating and issued a $115.00 price target on shares of KLA-Tencor Corporation in a research report on Friday, April 28th. Finally, UBS AG reissued a “neutral” rating and issued a $110.00 price target on shares of KLA-Tencor Corporation in a research report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $98.86.
In other news, SVP Virendra A. Kirloskar sold 314 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $91.74, for a total value of $28,806.36. Following the completion of the transaction, the senior vice president now directly owns 611 shares in the company, valued at $56,053.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Virendra A. Kirloskar sold 6,307 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.15, for a total transaction of $562,269.05. Following the completion of the transaction, the senior vice president now owns 2,022 shares of the company’s stock, valued at $180,261.30. The disclosure for this sale can be found here. Insiders sold 38,615 shares of company stock valued at $3,525,173 over the last 90 days. Insiders own 0.26% of the company’s stock.
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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