Traders Buy Shares of KLA-Tencor Corp. (KLAC) on Weakness
Investors purchased 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 companies 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
Several research firms have recently weighed in on KLAC. B. Riley reaffirmed a “neutral” rating and set a $78.00 price objective on shares of KLA-Tencor Corp. in a report on Tuesday, August 2nd. Credit Suisse Group AG reissued a “hold” rating and set a $82.00 price target on shares of KLA-Tencor Corp. in a research note on Friday, July 29th. Zacks Investment Research cut shares of KLA-Tencor Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Pacific Crest reissued a “hold” rating on shares of KLA-Tencor Corp. in a research note on Friday, July 29th. Finally, Cowen and Company increased their price target on shares of KLA-Tencor Corp. from $67.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, April 27th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.38.
The firm has a 50-day moving average price of $74.46 and a 200 day moving average price of $71.07. The stock has a market cap of $10.65 billion and a P/E ratio of 15.21.
KLA-Tencor Corp. (NASDAQ:KLAC) last issued its earnings results on Thursday, July 28th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.42 by $0.35. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The firm earned $919.17 million during the quarter, compared to analyst estimates of $842.10 million. KLA-Tencor Corp.’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that KLA-Tencor Corp. will post $4.82 EPS for the current year.
The company also recently announced 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. This represents a $2.08 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors recently added to or reduced their stakes in KLAC. 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 in 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 in the last quarter. 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 in the last quarter. Finally, 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 in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.