KLA-Tencor Corp (KLAC) Position Lessened by Comerica Bank
Comerica Bank reduced its position in shares of KLA-Tencor Corp (NASDAQ:KLAC) by 17.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,369 shares of the semiconductor company’s stock after selling 8,398 shares during the period. Comerica Bank’s holdings in KLA-Tencor were worth $3,562,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of KLA-Tencor by 1.1% during the 2nd quarter. BlackRock Inc. now owns 11,347,610 shares of the semiconductor company’s stock worth $1,163,470,000 after buying an additional 118,632 shares during the period. Boston Partners boosted its holdings in shares of KLA-Tencor by 1.4% during the 2nd quarter. Boston Partners now owns 2,092,922 shares of the semiconductor company’s stock worth $214,588,000 after buying an additional 29,020 shares during the period. Bank of America Corp DE boosted its holdings in shares of KLA-Tencor by 21.1% during the 2nd quarter. Bank of America Corp DE now owns 1,184,086 shares of the semiconductor company’s stock worth $121,405,000 after buying an additional 206,616 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of KLA-Tencor by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,007,292 shares of the semiconductor company’s stock worth $103,278,000 after buying an additional 27,073 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of KLA-Tencor by 63.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,005,470 shares of the semiconductor company’s stock worth $102,367,000 after buying an additional 388,591 shares during the period. 92.99% of the stock is owned by institutional investors and hedge funds.
KLAC has been the subject of several recent analyst reports. Evercore ISI raised shares of KLA-Tencor from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $130.00 to $140.00 in a report on Tuesday, September 4th. Zacks Investment Research reaffirmed a “sell” rating on shares of KLA-Tencor in a report on Tuesday, November 13th. BidaskClub downgraded shares of KLA-Tencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Deutsche Bank reduced their price target on shares of KLA-Tencor from $115.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Finally, Citigroup reduced their price target on shares of KLA-Tencor from $128.00 to $121.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $129.54.
Shares of KLA-Tencor stock opened at $92.33 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 3.45 and a debt-to-equity ratio of 1.43. KLA-Tencor Corp has a fifty-two week low of $84.59 and a fifty-two week high of $123.96. The firm has a market capitalization of $14.83 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.48 and a beta of 1.55.
KLA-Tencor (NASDAQ:KLAC) last issued its quarterly earnings results on Monday, October 29th. The semiconductor company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $1.80 EPS. The business’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that KLA-Tencor Corp will post 9.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Saturday, November 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, November 15th. KLA-Tencor’s dividend payout ratio (DPR) is presently 37.50%.
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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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