Taylor Hoffman Wealth Management lifted its position in shares of KLA-Tencor Corp (NASDAQ:KLAC) by 7.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,794 shares of the semiconductor company’s stock after buying an additional 649 shares during the quarter. KLA-Tencor makes up 1.1% of Taylor Hoffman Wealth Management’s holdings, making the stock its 26th largest holding. Taylor Hoffman Wealth Management’s holdings in KLA-Tencor were worth $1,562,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Boltwood Capital Management grew its holdings in shares of KLA-Tencor by 21.0% in the second quarter. Boltwood Capital Management now owns 6,895 shares of the semiconductor company’s stock valued at $815,000 after purchasing an additional 1,195 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in KLA-Tencor in the 2nd quarter valued at $283,000. DNB Asset Management AS raised its position in KLA-Tencor by 15.1% in the 2nd quarter. DNB Asset Management AS now owns 34,933 shares of the semiconductor company’s stock valued at $4,129,000 after purchasing an additional 4,591 shares during the last quarter. Empirical Finance LLC raised its position in KLA-Tencor by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 23,839 shares of the semiconductor company’s stock valued at $2,818,000 after purchasing an additional 201 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in KLA-Tencor by 2.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,454 shares of the semiconductor company’s stock valued at $1,117,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.
In related news, Director Kevin Kennedy sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $172.88, for a total value of $432,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amichai Steimberg sold 8,962 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $138.80, for a total transaction of $1,243,925.60. Following the completion of the transaction, the chief executive officer now owns 19,892 shares in the company, valued at approximately $2,761,009.60. The disclosure for this sale can be found here. Insiders sold 30,410 shares of company stock worth $4,535,477 in the last 90 days. 0.19% of the stock is currently owned by insiders.
KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.28. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.35 billion. KLA-Tencor had a net margin of 23.03% and a return on equity of 54.53%. The company’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. As a group, analysts forecast that KLA-Tencor Corp will post 9.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $0.85 dividend. This is a positive change from KLA-Tencor’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, November 15th. This represents a $3.40 annualized dividend and a yield of 1.95%. KLA-Tencor’s dividend payout ratio (DPR) is presently 35.46%.
Several research firms recently commented on KLAC. Bank of America upped their price target on shares of KLA-Tencor from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp upped their price target on shares of KLA-Tencor from $162.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of KLA-Tencor in a research report on Wednesday, September 18th. Credit Suisse Group upped their price target on shares of KLA-Tencor from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of KLA-Tencor from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. KLA-Tencor currently has an average rating of “Buy” and an average target price of $176.08.
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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