Seven Eight Capital LP Takes Position in KLA-Tencor Corporation (KLAC)
Seven Eight Capital LP purchased a new stake in KLA-Tencor Corporation (NASDAQ:KLAC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,936 shares of the semiconductor company’s stock, valued at approximately $635,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Symphony Asset Management LLC acquired a new stake in KLA-Tencor Corporation in the second quarter valued at $1,567,000. Riverhead Capital Management LLC raised its holdings in KLA-Tencor Corporation by 20.0% in the second quarter. Riverhead Capital Management LLC now owns 14,306 shares of the semiconductor company’s stock valued at $1,309,000 after acquiring an additional 2,387 shares in the last quarter. AJO LP acquired a new stake in KLA-Tencor Corporation in the second quarter valued at $25,108,000. NorthCoast Asset Management LLC acquired a new stake in KLA-Tencor Corporation in the second quarter valued at $2,857,000. Finally, Martingale Asset Management L P raised its holdings in KLA-Tencor Corporation by 25.4% in the second quarter. Martingale Asset Management L P now owns 138,893 shares of the semiconductor company’s stock valued at $12,711,000 after acquiring an additional 28,116 shares in the last quarter. 89.18% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. BidaskClub cut shares of KLA-Tencor Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Credit Suisse Group set a $115.00 price target on shares of KLA-Tencor Corporation and gave the company a “buy” rating in a report on Saturday, July 29th. B. Riley reaffirmed a “buy” rating and issued a $120.00 price target on shares of KLA-Tencor Corporation in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) cut shares of KLA-Tencor Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $108.00 to $97.00 in a report on Wednesday. Finally, UBS AG reaffirmed a “neutral” rating and issued a $110.00 price target on shares of KLA-Tencor Corporation in a report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. KLA-Tencor Corporation has an average rating of “Hold” and an average price target of $99.40.
Shares of KLA-Tencor Corporation (NASDAQ:KLAC) opened at 98.64 on Friday. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 16.78 and a beta of 1.62. KLA-Tencor Corporation has a 1-year low of $68.43 and a 1-year high of $109.59. The firm’s 50-day moving average is $92.53 and its 200 day moving average is $96.65.
KLA-Tencor Corporation (NASDAQ:KLAC) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $923.80 million. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. KLA-Tencor Corporation’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.77 earnings per share. Equities analysts expect that KLA-Tencor Corporation will post $6.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.59 dividend. This is a boost from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, August 11th. KLA-Tencor Corporation’s dividend payout ratio (DPR) is 40.14%.
In related news, SVP Virendra A. Kirloskar sold 6,307 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.15, for a total value of $562,269.05. Following the completion of the transaction, the senior vice president now directly owns 2,022 shares of the company’s stock, valued at $180,261.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 9,567 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.15, for a total value of $852,898.05. Following the completion of the transaction, the chief financial officer now directly owns 5,175 shares of the company’s stock, valued at $461,351.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,350 shares of company stock valued at $7,560,869. 0.26% of the stock is owned by company insiders.
About KLA-Tencor Corporation
KLA-Tencor Corporation (KLA-Tencor) 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 a number of other high technology industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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