KLA-Tencor Corp. (KLAC) Shares Down 2.9%
KLA-Tencor Corp. (NASDAQ:KLAC) shares dropped 2.9% during trading on Tuesday . The stock traded as low as $68.14 and last traded at $68.47, with a volume of 1,396,461 shares traded. The stock had previously closed at $70.52.
KLAC has been the topic of several recent analyst reports. Cowen and Company lifted their price target on KLA-Tencor Corp. from $67.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 27th. Deutsche Bank AG lifted their price target on KLA-Tencor Corp. from $72.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $82.00 price target on shares of KLA-Tencor Corp. in a research report on Friday, July 29th. JPMorgan Chase & Co. boosted their price objective on KLA-Tencor Corp. from $79.50 to $84.50 and gave the company an “overweight” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. boosted their price objective on KLA-Tencor Corp. from $74.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $73.38.
The firm has a market cap of $10.62 billion and a P/E ratio of 15.16. The company has a 50-day moving average price of $73.89 and a 200-day moving average price of $71.33.
KLA-Tencor Corp. (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ 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. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts expect that KLA-Tencor Corp. will post $4.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.06%.
In other news, CFO Bren D. Higgins sold 363 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in KLA-Tencor Corp. stock. Principal Financial Group Inc. boosted its position in KLA-Tencor Corp. (NASDAQ:KLAC) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,019 shares of the company’s stock after buying an additional 3,106 shares during the period. Principal Financial Group Inc. owned 0.15% of KLA-Tencor Corp. worth $15,743,000 as of its most recent SEC filing.
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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