KLA-Tencor Corp. (KLAC) Sees Unusually-High Trading Volume
KLA-Tencor Corp. (NASDAQ:KLAC) saw an uptick in trading volume on Thursday . 1,366,187 shares changed hands during mid-day trading, an increase of 26% from the previous session’s volume of 1,085,740 shares.The stock last traded at $68.82 and had previously closed at $69.47.
A number of research firms recently issued reports on KLAC. Zacks Investment Research upgraded KLA-Tencor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley reiterated a “neutral” rating and issued a $78.00 target price on shares of KLA-Tencor Corp. in a report on Tuesday, August 2nd. Pacific Crest reiterated a “hold” rating on shares of KLA-Tencor Corp. in a report on Friday, July 29th. JPMorgan Chase & Co. lifted their target price on KLA-Tencor Corp. from $79.50 to $84.50 and gave the company an “overweight” rating in a report on Friday, July 29th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $82.00 target price on shares of KLA-Tencor Corp. in a report on Friday, July 29th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. KLA-Tencor Corp. presently has an average rating of “Hold” and an average price target of $73.38.
The stock’s 50-day moving average is $74.65 and its 200 day moving average is $71.05. The company has a market cap of $10.53 billion and a PE ratio of 15.04.
KLA-Tencor Corp. (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.35. The business had revenue of $919.17 million for the quarter, compared to analysts’ expectations of $842.10 million. During the same period last year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities analysts expect that KLA-Tencor Corp. will post $4.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.08 dividend on an annualized basis and a yield of 3.08%.
In related news, CFO Bren D. Higgins sold 363 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $72.23, for a total transaction of $26,219.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of institutional investors have recently bought and sold shares of KLAC. Aberdeen Asset Management PLC UK boosted its position in KLA-Tencor Corp. by 16.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 28,949 shares of the company’s stock worth $1,879,000 after buying an additional 4,118 shares during the last quarter. Principal Financial Group Inc. boosted its position in KLA-Tencor Corp. by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 227,019 shares of the company’s stock worth $15,743,000 after buying an additional 3,106 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in KLA-Tencor Corp. by 4.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 20,921 shares of the company’s stock worth $1,451,000 after buying an additional 947 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position 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 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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