Meeder Asset Management Inc. lifted its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 28,933.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,098 shares of the semiconductor company’s stock after buying an additional 24,015 shares during the period. Meeder Asset Management Inc.’s holdings in KLA-Tencor were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of KLAC. Northwestern Mutual Wealth Management Co. lifted its stake in KLA-Tencor by 187.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,042 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 679 shares during the last quarter. Sonora Investment Management LLC increased its holdings in shares of KLA-Tencor by 905.7% during the second quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock worth $109,000 after buying an additional 960 shares in the last quarter. Exane Asset Management acquired a new position in shares of KLA-Tencor during the second quarter worth $165,000. Piedmont Investment Advisors LLC acquired a new position in shares of KLA-Tencor during the second quarter worth $181,000. Finally, First Mercantile Trust Co. increased its holdings in shares of KLA-Tencor by 41.1% during the second quarter. First Mercantile Trust Co. now owns 1,833 shares of the semiconductor company’s stock worth $188,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of KLA-Tencor from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Deutsche Bank lowered their price target on shares of KLA-Tencor from $115.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. KeyCorp lowered their price target on shares of KLA-Tencor from $152.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, October 30th. B. Riley upped their price target on shares of KLA-Tencor from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Cowen set a $120.00 price target on shares of KLA-Tencor and gave the stock an “outperform” rating in a report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. KLA-Tencor presently has an average rating of “Hold” and an average target price of $129.54.
In related news, insider Richard P. Wallace sold 12,308 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $117.36, for a total value of $1,444,466.88. Following the completion of the sale, the insider now directly owns 50,137 shares in the company, valued at $5,884,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian Lorig sold 2,547 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $117.37, for a total value of $298,941.39. The disclosure for this sale can be found here. Insiders sold 24,238 shares of company stock valued at $2,801,014 over the last 90 days. 0.19% of the stock is currently owned by company insiders.
NASDAQ KLAC opened at $95.05 on Wednesday. The firm has a market capitalization of $14.28 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.42 and a beta of 1.55. KLA-Tencor Corp has a twelve month low of $84.59 and a twelve month high of $123.96. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.45 and a quick ratio of 2.69.
KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings data on Monday, October 29th. The semiconductor company reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.25. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. KLA-Tencor had a return on equity of 93.99% and a net margin of 22.05%. KLA-Tencor’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. On average, sell-side analysts anticipate that KLA-Tencor Corp will post 9.16 EPS for the current fiscal year.
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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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