ARK Investment Management LLC acquired a new stake in shares of KLA-Tencor Corp (NASDAQ:KLAC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,144 shares of the semiconductor company’s stock, valued at approximately $256,000.
A number of other large investors also recently made changes to their positions in the business. Advisors Preferred LLC purchased a new position in shares of KLA-Tencor in the first quarter worth $26,000. NuWave Investment Management LLC purchased a new position in shares of KLA-Tencor in the first quarter worth $27,000. Resources Investment Advisors Inc. purchased a new position in shares of KLA-Tencor in the fourth quarter worth $29,000. JOYN Advisors Inc. raised its stake in shares of KLA-Tencor by 251.0% in the fourth quarter. JOYN Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the last quarter. Finally, Spectrum Management Group Inc. purchased a new position in shares of KLA-Tencor in the first quarter worth $40,000. Institutional investors and hedge funds own 88.82% of the company’s stock.
NASDAQ:KLAC traded up $0.46 during mid-day trading on Friday, hitting $118.20. 1,226,627 shares of the company traded hands, compared to its average volume of 1,536,553. The company has a fifty day moving average of $109.23. KLA-Tencor Corp has a one year low of $80.65 and a one year high of $129.03. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.84 and a current ratio of 2.61.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were given a $0.75 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. KLA-Tencor’s payout ratio is 37.50%.
Several research analysts have recently weighed in on KLAC shares. Stifel Nicolaus boosted their price target on KLA-Tencor from $124.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Cowen restated an “outperform” rating and issued a $140.00 price target (up previously from $130.00) on shares of KLA-Tencor in a research note on Thursday, March 7th. JPMorgan Chase & Co. assumed coverage on KLA-Tencor in a research note on Thursday, March 7th. They issued an “overweight” rating and a $160.00 price target for the company. BidaskClub raised KLA-Tencor from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, Zacks Investment Research raised KLA-Tencor from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. KLA-Tencor currently has a consensus rating of “Hold” and a consensus price target of $131.61.
In related news, EVP Teri A. Little sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $110.38, for a total value of $165,570.00. Following the sale, the executive vice president now directly owns 5,517 shares in the company, valued at $608,966.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ahmad A. Khan sold 3,633 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.25, for a total value of $422,336.25. Following the completion of the sale, the executive vice president now owns 549 shares in the company, valued at $63,821.25. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
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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