OppenheimerFunds Inc. lowered its position in shares of KLA-Tencor Corp (NASDAQ:KLAC) by 39.9% in the first quarter, HoldingsChannel.com reports. The firm owned 3,333 shares of the semiconductor company’s stock after selling 2,209 shares during the period. OppenheimerFunds Inc.’s holdings in KLA-Tencor were worth $363,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in shares of KLA-Tencor by 11.9% during the 1st quarter. Stifel Financial Corp now owns 89,748 shares of the semiconductor company’s stock worth $9,798,000 after purchasing an additional 9,567 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of KLA-Tencor by 92.1% during the 1st quarter. Russell Investments Group Ltd. now owns 139,092 shares of the semiconductor company’s stock worth $15,083,000 after purchasing an additional 66,693 shares during the period. Van ECK Associates Corp grew its holdings in shares of KLA-Tencor by 9.4% during the 1st quarter. Van ECK Associates Corp now owns 387,959 shares of the semiconductor company’s stock worth $42,291,000 after purchasing an additional 33,223 shares during the period. CNB Bank purchased a new stake in shares of KLA-Tencor during the 1st quarter worth about $334,000. Finally, Stelac Advisory Services LLC purchased a new stake in shares of KLA-Tencor during the 1st quarter worth about $182,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
KLAC has been the subject of a number of research reports. UBS Group initiated coverage on KLA-Tencor in a report on Wednesday, April 4th. They set a “buy” rating and a $150.00 target price for the company. KeyCorp boosted their target price on KLA-Tencor from $151.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, April 27th. Bank of America initiated coverage on KLA-Tencor in a report on Wednesday, March 21st. They set a “buy” rating and a $140.00 target price for the company. Zacks Investment Research cut KLA-Tencor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Credit Suisse Group decreased their target price on KLA-Tencor from $134.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, April 27th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. KLA-Tencor presently has an average rating of “Buy” and an average target price of $131.93.
NASDAQ KLAC opened at $102.53 on Friday. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 0.79 and a beta of 1.52. KLA-Tencor Corp has a fifty-two week low of $87.93 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.78 and a quick ratio of 3.07.
KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.03. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. KLA-Tencor had a return on equity of 86.87% and a net margin of 18.17%. KLA-Tencor’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. sell-side analysts forecast that KLA-Tencor Corp will post 7.93 earnings per share for the current fiscal year.
KLA-Tencor declared that its board has approved a stock buyback plan on Monday, March 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products.
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