Adage Capital Partners GP L.L.C. Purchases 103,300 Shares of KLA-Tencor Corp. (KLAC)
Adage Capital Partners GP L.L.C. boosted its position in shares of KLA-Tencor Corp. (NASDAQ:KLAC) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,240,252 shares of the company’s stock after buying an additional 103,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.80% of KLA-Tencor Corp. worth $90,848,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of KLA-Tencor Corp. by 470.3% in the first quarter. Renaissance Technologies LLC now owns 577,584 shares of the company’s stock worth $42,054,000 after buying an additional 476,300 shares during the last quarter. Legal & General Group Plc raised its position in shares of KLA-Tencor Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 707,256 shares of the company’s stock worth $51,493,000 after buying an additional 2,945 shares during the last quarter. Natixis raised its position in shares of KLA-Tencor Corp. by 4.7% in the first quarter. Natixis now owns 32,709 shares of the company’s stock worth $2,382,000 after buying an additional 1,473 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of KLA-Tencor Corp. by 7.0% in the first quarter. Panagora Asset Management Inc. now owns 143,231 shares of the company’s stock worth $10,429,000 after buying an additional 9,394 shares during the last quarter. Finally, Arizona State Retirement System raised its position in KLA-Tencor Corp. by 0.7% in the first quarter. Arizona State Retirement System now owns 58,480 shares of the company’s stock valued at $4,258,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 85.98% of the company’s stock.
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) traded up 1.27% during trading on Friday, reaching $75.46. The company’s stock had a trading volume of 1,010,695 shares. The company’s 50 day moving average price is $72.77 and its 200 day moving average price is $72.10. KLA-Tencor Corp. has a 12 month low of $62.33 and a 12 month high of $77.85. The firm has a market cap of $11.80 billion, a PE ratio of 15.20 and a beta of 1.60.
KLA-Tencor Corp. (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, October 20th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.13. KLA-Tencor Corp. had a return on equity of 138.28% and a net margin of 25.15%. The company earned $751 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter in the previous year, the firm earned $0.71 EPS. KLA-Tencor Corp.’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts predict that KLA-Tencor Corp. will post $5.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from KLA-Tencor Corp.’s previous quarterly dividend of $0.52. KLA-Tencor Corp.’s payout ratio is 43.55%.
KLAC has been the subject of several recent analyst reports. Credit Suisse Group AG reiterated a “focus list” rating and set a $85.00 price objective on shares of KLA-Tencor Corp. in a research note on Monday, October 3rd. Zacks Investment Research upgraded KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, September 28th. Cowen and Company upgraded KLA-Tencor Corp. from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $79.00 to $80.00 in a research note on Monday, August 29th. They noted that the move was a valuation call. Vetr upgraded KLA-Tencor Corp. from a “buy” rating to a “strong-buy” rating and set a $83.21 price objective for the company in a research note on Tuesday, November 1st. Finally, Summit Redstone lowered KLA-Tencor Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. KLA-Tencor Corp. presently has a consensus rating of “Buy” and a consensus target price of $81.25.
In other news, EVP Ahmad A. Khan sold 10,775 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $74.82, for a total transaction of $806,185.50. Following the completion of the transaction, the executive vice president now owns 17,173 shares of the company’s stock, valued at approximately $1,284,883.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bren D. Higgins sold 4,812 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $74.94, for a total value of $360,611.28. Following the transaction, the chief financial officer now directly owns 4,610 shares of the company’s stock, valued at approximately $345,473.40. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About KLA-Tencor Corp.
KLA-Tencor Corporation is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The Company’s products are also used in various other industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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