State Board of Administration of Florida Retirement System reduced its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 3.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 192,437 shares of the semiconductor company’s stock after selling 7,771 shares during the period. State Board of Administration of Florida Retirement System’s holdings in KLA-Tencor were worth $19,573,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of KLA-Tencor by 187.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,042 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 679 shares in the last quarter. Sonora Investment Management LLC increased its stake in shares of KLA-Tencor by 905.7% during the second quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 960 shares in the last quarter. Exane Asset Management bought a new position in shares of KLA-Tencor during the second quarter valued at approximately $165,000. Piedmont Investment Advisors LLC bought a new position in shares of KLA-Tencor during the second quarter valued at approximately $181,000. Finally, First Mercantile Trust Co. increased its stake in shares of KLA-Tencor by 41.1% during the second quarter. First Mercantile Trust Co. now owns 1,833 shares of the semiconductor company’s stock valued at $188,000 after purchasing an additional 534 shares in the last quarter. 92.11% of the stock is owned by institutional investors.

In related news, insider Richard P. Wallace sold 12,308 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $117.36, for a total value of $1,444,466.88. Following the sale, the insider now owns 50,137 shares in the company, valued at $5,884,078.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian M. Trafas sold 649 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $116.42, for a total transaction of $75,556.58. The disclosure for this sale can be found here. Insiders sold 20,387 shares of company stock worth $2,356,956 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

NASDAQ:KLAC opened at $95.28 on Friday. KLA-Tencor Corp has a 52 week low of $84.59 and a 52 week high of $123.96. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.69 and a current ratio of 3.45. The company has a market cap of $14.77 billion, a PE ratio of 11.91, a PEG ratio of 1.47 and a beta of 1.55.

KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings results on Monday, October 29th. The semiconductor company reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.25. KLA-Tencor had a net margin of 22.05% and a return on equity of 93.99%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts predict that KLA-Tencor Corp will post 9.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Saturday, November 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, November 15th. KLA-Tencor’s dividend payout ratio is currently 37.50%.

KLAC has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of KLA-Tencor from $128.00 to $121.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. Zacks Investment Research upgraded shares of KLA-Tencor from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Wednesday, August 1st. B. Riley cut their price target on shares of KLA-Tencor from $152.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Stifel Nicolaus increased their price target on shares of KLA-Tencor from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Deutsche Bank cut their price target on shares of KLA-Tencor from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. KLA-Tencor currently has an average rating of “Hold” and a consensus price target of $129.54.

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KLA-Tencor Company Profile

KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA-Tencor Corp (NASDAQ:KLAC).

Institutional Ownership by Quarter for KLA-Tencor (NASDAQ:KLAC)

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