Investors Buy Shares of KLA-Tencor Corp. (KLAC) on Weakness
Traders bought shares of KLA-Tencor Corp. (NASDAQ:KLAC) on weakness during trading hours on Thursday. $34.27 million flowed into the stock on the tick-up and $14.33 million flowed out of the stock on the tick-down, for a money net flow of $19.94 million into the stock. Of all equities tracked, KLA-Tencor Corp. had the 14th highest net in-flow for the day. KLA-Tencor Corp. traded down ($0.33) for the day and closed at $75.22
A number of analysts have weighed in on KLAC shares. Zacks Investment Research downgraded shares of KLA-Tencor Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Cowen and Company increased their target price on shares of KLA-Tencor Corp. from $67.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, April 27th. Finally, B. Riley reissued a “neutral” rating and set a $72.00 target price on shares of KLA-Tencor Corp. in a research report on Wednesday, April 27th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. KLA-Tencor Corp. presently has a consensus rating of “Hold” and a consensus price target of $66.50.
The stock has a 50-day moving average price of $73.19 and a 200 day moving average price of $69.81. The stock has a market cap of $11.70 billion and a P/E ratio of 20.59.
KLA-Tencor Corp. (NASDAQ:KLAC) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.17. The company earned $712 million during the quarter, compared to analysts’ expectations of $725.62 million. During the same period last year, the firm earned $0.84 earnings per share. KLA-Tencor Corp.’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts predict that KLA-Tencor Corp. will post $4.30 earnings per share for the current year.
In other news, EVP Bobby R. Bell sold 6,343 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $69.18, for a total transaction of $438,808.74. Following the transaction, the executive vice president now directly owns 348 shares of the company’s stock, valued at $24,074.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bren D. Higgins sold 363 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $72.23, for a total value of $26,219.49. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Winton Capital Group Ltd acquired a new position in KLA-Tencor Corp. during the fourth quarter valued at about $32,197,000. RidgeWorth Capital Management LLC boosted its position in 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 valued at $47,715,000 after buying an additional 686,900 shares during the period. Morgan Stanley boosted its position in KLA-Tencor Corp. by 1,838.0% in the fourth quarter. Morgan Stanley now owns 3,287,298 shares of the company’s stock valued at $227,974,000 after buying an additional 3,117,674 shares during the period. Freestone Capital Holdings LLC boosted its position 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 valued at $1,156,000 after buying an additional 6,627 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in KLA-Tencor Corp. by 167.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,041 shares of the company’s stock valued at $1,875,000 after buying an additional 16,920 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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