Investors Sell KLA-Tencor Corp. (KLAC) on Strength After Insider Selling
Investors sold shares of KLA-Tencor Corp. (NASDAQ:KLAC) on strength during trading hours on Tuesday following insider selling activity. $42.78 million flowed into the stock on the tick-up and $97.39 million flowed out of the stock on the tick-down, for a money net flow of $54.61 million out of the stock. Of all companies tracked, KLA-Tencor Corp. had the 0th highest net out-flow for the day. KLA-Tencor Corp. traded up $2.08 for the day and closed at $83.04Specifically, insider Michael Kirk sold 19,750 shares of the stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $74.54, for a total transaction of $1,472,165.00. Following the transaction, the insider now directly owns 1,279 shares of the company’s stock, valued at $95,336.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kiran M. Patel sold 6,000 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $82.45, for a total transaction of $494,700.00. Following the transaction, the director now directly owns 2,141 shares in the company, valued at $176,525.45. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.
Several research analysts recently issued reports on KLAC shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of KLA-Tencor Corp. in a research note on Wednesday, August 17th. Zacks Investment Research upgraded shares of KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, September 28th. B. Riley upgraded shares of KLA-Tencor Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $78.00 to $86.00 in a report on Thursday, October 6th. Berenberg Bank upgraded shares of KLA-Tencor Corp. from a “hold” rating to a “buy” rating in a report on Thursday, October 6th. Finally, Needham & Company LLC upgraded shares of KLA-Tencor Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $71.79 to $84.00 in a report on Friday, October 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.80.
The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 16.73 and a beta of 1.60. The stock has a 50 day moving average price of $74.63 and a 200-day moving average price of $72.57.
KLA-Tencor Corp. (NASDAQ:KLAC) last announced its earnings results on Thursday, October 20th. The company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.13. KLA-Tencor Corp. had a net margin of 25.15% and a return on equity of 138.28%. The firm had revenue of $751 million for the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts forecast that KLA-Tencor Corp. will post $5.36 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, November 10th. This is a boost from KLA-Tencor Corp.’s previous quarterly dividend of $0.52. KLA-Tencor Corp.’s payout ratio is 43.55%.
Hedge funds have recently made changes to their positions in the stock. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of KLA-Tencor Corp. during the second quarter worth about $513,000. Nikko Asset Management Americas Inc. boosted its position in shares of KLA-Tencor Corp. by 50.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 11,000 shares of the company’s stock worth $793,000 after buying an additional 3,700 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of KLA-Tencor Corp. during the second quarter worth about $299,000. Nisa Investment Advisors LLC boosted its position in shares of KLA-Tencor Corp. by 11.2% in the second quarter. Nisa Investment Advisors LLC now owns 31,994 shares of the company’s stock worth $2,344,000 after buying an additional 3,230 shares during the last quarter. Finally, Legacy Private Trust Co. purchased a new position in shares of KLA-Tencor Corp. during the second quarter worth about $284,000. Hedge funds and other institutional investors own 84.25% 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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