Traders Buy Shares of KLA-Tencor Corp. (KLAC) on Weakness
Investors bought shares of KLA-Tencor Corp. (NASDAQ:KLAC) on weakness during trading hours on Thursday. $56.67 million flowed into the stock on the tick-up and $41.75 million flowed out of the stock on the tick-down, for a money net flow of $14.92 million into the stock. Of all equities tracked, KLA-Tencor Corp. had the 8th highest net in-flow for the day. KLA-Tencor Corp. traded down ($1.44) for the day and closed at $67.51
A number of analysts have recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $78.00 target price on shares of KLA-Tencor Corp. in a report on Thursday, July 28th. Zacks Investment Research downgraded shares of KLA-Tencor Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Cowen and Company boosted their target price on shares of KLA-Tencor Corp. from $70.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Pacific Crest restated a “hold” rating on shares of KLA-Tencor Corp. in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of KLA-Tencor Corp. from $79.50 to $84.50 and gave the company an “overweight” rating in a report on Friday, July 29th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $73.38.
The firm has a market capitalization of $10.53 billion and a PE ratio of 15.04. The firm has a 50 day moving average of $74.65 and a 200 day moving average of $71.05.
KLA-Tencor Corp. (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.35. The business earned $919.17 million during the quarter, compared to analysts’ expectations of $842.10 million. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. 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. Stockholders of record on Monday, August 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, CFO Bren D. Higgins sold 363 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through this link.
Several institutional investors have bought and sold shares of the company. Advantus Capital Management Inc increased 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 valued at $1,044,000 after buying an additional 478 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake 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 valued at $1,451,000 after buying an additional 947 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake 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 valued at $1,879,000 after buying an additional 4,118 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 valued at $15,743,000 after buying an additional 3,106 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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