KLA-Tencor Corp. (KLAC) Sees Unusually-High Trading Volume
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) saw unusually-strong trading volume on Wednesday . Approximately 1,026,145 shares changed hands during trading, a decline of 19% from the previous session’s volume of 1,264,971 shares.The stock last traded at $72.23 and had previously closed at $72.11.
Several equities analysts have recently commented on KLAC shares. Zacks Investment Research lowered KLA-Tencor Corp. from a “buy” rating to a “hold” rating in a report on Monday, April 4th. Cowen and Company upped their target price on KLA-Tencor Corp. from $67.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, April 27th. Finally, B. Riley reaffirmed a “neutral” rating and set a $72.00 target price on shares of KLA-Tencor Corp. in a report on Monday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.50.
The stock has a market cap of $11.25 billion and a P/E ratio of 19.80. The firm has a 50-day moving average price of $72.32 and a 200 day moving average price of $69.58.
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 Zacks’ consensus estimate of $0.98 by $0.17. During the same period last year, the company posted $0.84 EPS. The firm had revenue of $712 million for the quarter, compared to the consensus estimate of $725.62 million. The business’s revenue was down 3.5% on a year-over-year basis. Equities analysts anticipate that KLA-Tencor Corp. will post $4.30 EPS for the current year.
In other news, EVP Bobby R. Bell sold 6,343 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $69.18, for a total transaction of $438,808.74. Following the completion of the sale, the executive vice president now owns 348 shares of the company’s stock, valued at approximately $24,074.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds have recently modified their holdings of KLAC. Vanguard Group Inc. increased its stake in shares of 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 period. Morgan Stanley increased its stake in shares of 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 during the period. RidgeWorth Capital Management LLC increased its stake in shares of 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 during the period. P Schoenfeld Asset Management LP purchased a new stake in shares of KLA-Tencor Corp. during the fourth quarter worth $35,211,000. Finally, Winton Capital Group Ltd purchased a new stake in shares of KLA-Tencor Corp. during the fourth quarter worth $32,197,000.
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.