KLA-Tencor Corp. (KLAC) Reaches New 1-Year High at $76.18
KLA-Tencor Corp. (NASDAQ:KLAC) hit a new 52-week high on Tuesday . The stock traded as high as $76.18 and last traded at $76.04, with a volume of 302,964 shares. The stock had previously closed at $75.93.
Several brokerages have weighed in on KLAC. Zacks Investment Research downgraded KLA-Tencor Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. B. Riley reissued a “neutral” rating and issued a $72.00 price target on shares of KLA-Tencor Corp. in a report on Monday, May 2nd. Finally, Cowen and Company raised their price target on KLA-Tencor Corp. from $67.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, April 27th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.50.
The stock’s 50-day moving average price is $73.52 and its 200 day moving average price is $69.99. The company has a market capitalization of $11.94 billion and a P/E ratio of 21.01.
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 Thomson Reuters’ consensus estimate of $0.98 by $0.17. The company had revenue of $712 million for the quarter, compared to analysts’ expectations of $725.62 million. KLA-Tencor Corp.’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. On average, analysts predict that KLA-Tencor Corp. will post $4.30 EPS for the current fiscal year.
In other news, EVP Bobby R. Bell sold 6,343 shares of the stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $69.18, for a total value of $438,808.74. Following the transaction, the executive vice president now owns 348 shares in the company, valued at approximately $24,074.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 363 shares of the stock in a transaction dated Tuesday, July 5th. The shares were 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.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 last quarter. Morgan Stanley increased its position 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 in the last quarter. RidgeWorth Capital Management LLC increased its position 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 in the last quarter. P Schoenfeld Asset Management LP purchased a new position in KLA-Tencor Corp. during the fourth quarter worth about $35,211,000. Finally, New York State Common Retirement Fund increased its position in KLA-Tencor Corp. by 1.4% in the fourth quarter. New York State Common Retirement Fund now owns 372,000 shares of the company’s stock worth $25,798,000 after buying an additional 5,200 shares in the last quarter.
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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