KLA-Tencor Corp. (KLAC) Trading Down 8.8%
KLA-Tencor Corp. (NASDAQ:KLAC)’s share price was down 8.8% on Wednesday . The company traded as low as $69.87 and last traded at $70.56, with a volume of 4,058,410 shares. The stock had previously closed at $77.41.
A number of equities analysts have recently weighed in on KLAC shares. Zacks Investment Research cut KLA-Tencor Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Citigroup Inc. increased their price target on KLA-Tencor Corp. from $74.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Deutsche Bank AG increased their price target on KLA-Tencor Corp. from $72.00 to $78.00 and gave the stock a “hold” rating in a report on Friday, July 29th. B. Riley reiterated a “neutral” rating and set a $78.00 price target on shares of KLA-Tencor Corp. in a report on Thursday, July 28th. Finally, Cowen and Company increased 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. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. KLA-Tencor Corp. currently has a consensus rating of “Hold” and a consensus target price of $73.38.
The firm has a market cap of $10.84 billion and a price-to-earnings ratio of 15.47. The firm has a 50 day moving average of $74.97 and a 200 day moving average of $71.08.
KLA-Tencor Corp. (NASDAQ:KLAC) last released its earnings results on Thursday, July 28th. The company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.35. The business earned $919.17 million during the quarter, compared to analyst estimates of $842.10 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities research analysts forecast that KLA-Tencor Corp. will post $4.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.08 annualized dividend and a yield of 2.99%.
In related news, CFO Bren D. Higgins sold 363 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $72.23, for a total value of $26,219.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Other large investors have recently bought and sold shares of the company. State of Tennessee Treasury Department increased its stake in KLA-Tencor Corp. by 133.1% in the fourth quarter. State of Tennessee Treasury Department now owns 58,273 shares of the company’s stock worth $4,041,000 after buying an additional 33,273 shares during the period. TrimTabs Asset Management LLC purchased a new stake in KLA-Tencor Corp. during the fourth quarter worth about $2,834,000. P Schoenfeld Asset Management LP purchased a new stake in KLA-Tencor Corp. during the fourth quarter worth about $35,211,000. Freestone Capital Holdings LLC increased its stake in KLA-Tencor Corp. by 66.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 16,666 shares of the company’s stock worth $1,156,000 after buying an additional 6,627 shares during the period. Finally, Advantus Capital Management Inc increased its stake in KLA-Tencor Corp. by 3.3% in the fourth quarter. Advantus Capital Management Inc now owns 15,047 shares of the company’s stock worth $1,044,000 after buying an additional 478 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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