BBT Capital Management LLC Invests $1.09 Million in KLA-Tencor Corp (KLAC)
BBT Capital Management LLC purchased a new stake in KLA-Tencor Corp (NASDAQ:KLAC) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 10,670 shares of the semiconductor company’s stock, valued at approximately $1,085,000.
Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in KLA-Tencor by 187.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,042 shares of the semiconductor company’s stock valued at $107,000 after acquiring an additional 679 shares during the last quarter. Sonora Investment Management LLC raised its holdings in KLA-Tencor by 905.7% in the 2nd quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 960 shares during the last quarter. Exane Asset Management acquired a new stake in KLA-Tencor in the 2nd quarter valued at about $165,000. Piedmont Investment Advisors LLC acquired a new stake in KLA-Tencor in the 2nd quarter valued at about $181,000. Finally, First Mercantile Trust Co. raised its holdings in KLA-Tencor by 41.1% in the 2nd quarter. First Mercantile Trust Co. now owns 1,833 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 534 shares during the last quarter. 92.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. B. Riley cut their price objective on shares of KLA-Tencor from $152.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, July 31st. Zacks Investment Research reiterated a “sell” rating on shares of KLA-Tencor in a report on Tuesday, November 13th. KeyCorp cut their price objective on shares of KLA-Tencor from $152.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, October 30th. Deutsche Bank cut their price objective 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, Stifel Nicolaus increased their price objective 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $129.54.
KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings results on Monday, October 29th. The semiconductor company reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.25. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. KLA-Tencor had a net margin of 22.05% and a return on equity of 93.99%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 EPS. On average, sell-side analysts expect that KLA-Tencor Corp will post 9.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Saturday, November 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, November 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.17%. KLA-Tencor’s dividend payout ratio is currently 37.50%.
In other news, EVP Ahmad A. Khan sold 5,028 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $94.22, for a total transaction of $473,738.16. Following the completion of the sale, the executive vice president now owns 8,033 shares in the company, valued at approximately $756,869.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Virendra A. Kirloskar sold 632 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $93.74, for a total transaction of $59,243.68. The disclosure for this sale can be found here. Insiders have sold a total of 30,516 shares of company stock valued at $3,310,114 in the last 90 days. Insiders own 0.19% of the company’s stock.
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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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