Investors Buy KLA-Tencor Corp. (KLAC) on Weakness
Investors purchased shares of KLA-Tencor Corp. (NASDAQ:KLAC) on weakness during trading hours on Thursday. $34.27 million flowed into the stock on the tick-up and $14.33 million flowed out of the stock on the tick-down, for a money net flow of $19.94 million into the stock. Of all stocks tracked, KLA-Tencor Corp. had the 14th highest net in-flow for the day. KLA-Tencor Corp. traded down ($0.33) for the day and closed at $75.22
Several brokerages recently commented on KLAC. Zacks Investment Research downgraded shares of KLA-Tencor Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. B. Riley reaffirmed a “neutral” rating and issued a $72.00 target price on shares of KLA-Tencor Corp. in a research note on Monday, May 2nd. Finally, Cowen and Company lifted their target price on shares of KLA-Tencor Corp. from $67.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 27th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $66.50.
The company’s 50 day moving average price is $73.16 and its 200 day moving average price is $69.80. The firm has a market cap of $11.71 billion and a PE ratio of 20.61.
KLA-Tencor Corp. (NASDAQ:KLAC) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17. The business earned $712 million during the quarter, compared to analyst estimates of $725.62 million. During the same period in the prior year, the business posted $0.84 EPS. KLA-Tencor Corp.’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that KLA-Tencor Corp. will post $4.30 earnings per share for the current year.
In related news, EVP Bobby R. Bell sold 6,343 shares of KLA-Tencor Corp. stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $69.18, for a total transaction of $438,808.74. Following the completion of the sale, the executive vice president now owns 348 shares of the company’s stock, valued at $24,074.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 363 shares of KLA-Tencor Corp. stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $72.23, for a total value of $26,219.49. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in KLAC. Morgan Stanley increased its stake in KLA-Tencor Corp. by 1,838.0% in the fourth quarter. Morgan Stanley now owns 3,287,298 shares of the company’s stock worth $227,974,000 after buying an additional 3,117,674 shares during the period. RidgeWorth Capital Management LLC increased its stake in KLA-Tencor Corp. by 60,949.4% in the fourth quarter. RidgeWorth Capital Management LLC now owns 688,027 shares of the company’s stock worth $47,715,000 after buying an additional 686,900 shares during the period. P Schoenfeld Asset Management LP purchased a new stake in KLA-Tencor Corp. during the fourth quarter worth approximately $35,211,000. Winton Capital Group Ltd purchased a new stake in KLA-Tencor Corp. during the fourth quarter worth approximately $32,197,000. Finally, Vanguard Group Inc. increased its stake in KLA-Tencor Corp. by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 13,686,140 shares of the company’s stock worth $949,133,000 after buying an additional 302,274 shares during the period.
KLA-Tencor Corporation 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 various other industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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