BlackRock Inc. trimmed its position in KLA-Tencor Corp (NASDAQ:KLAC) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,228,978 shares of the semiconductor company’s stock after selling 217,989 shares during the quarter. BlackRock Inc. owned approximately 7.20% of KLA-Tencor worth $1,224,070,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fort L.P. increased its holdings in shares of KLA-Tencor by 41.3% in the 1st quarter. Fort L.P. now owns 141,374 shares of the semiconductor company’s stock valued at $15,411,000 after acquiring an additional 41,336 shares during the last quarter. KBC Group NV increased its holdings in shares of KLA-Tencor by 13.6% in the 1st quarter. KBC Group NV now owns 16,691 shares of the semiconductor company’s stock valued at $1,820,000 after acquiring an additional 2,003 shares during the last quarter. Systematic Financial Management LP bought a new stake in shares of KLA-Tencor in the 1st quarter valued at approximately $5,879,000. Silvant Capital Management LLC bought a new stake in shares of KLA-Tencor in the 1st quarter valued at approximately $123,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of KLA-Tencor by 87.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,723 shares of the semiconductor company’s stock valued at $2,913,000 after acquiring an additional 12,437 shares during the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.
Shares of KLA-Tencor opened at $114.32 on Friday, Marketbeat reports. The company has a quick ratio of 3.07, a current ratio of 3.78 and a debt-to-equity ratio of 1.80. KLA-Tencor Corp has a 1 year low of $87.93 and a 1 year high of $123.96. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.50.
KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.03. KLA-Tencor had a return on equity of 86.87% and a net margin of 18.17%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. equities analysts expect that KLA-Tencor Corp will post 7.93 EPS for the current year.
KLA-Tencor declared that its Board of Directors has initiated a share buyback program on Monday, March 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other KLA-Tencor news, CFO Bren D. Higgins sold 854 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $112.92, for a total transaction of $96,433.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
KLAC has been the subject of a number of research analyst reports. Zacks Investment Research upgraded KLA-Tencor from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Tuesday, March 27th. Bank of America started coverage on KLA-Tencor in a research report on Wednesday, March 21st. They set a “buy” rating and a $140.00 price objective for the company. Argus reduced their price objective on KLA-Tencor from $135.00 to $115.98 and set a “buy” rating for the company in a research report on Tuesday, March 20th. BidaskClub upgraded KLA-Tencor from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Citigroup upgraded KLA-Tencor from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $127.93.
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products.
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