Keating Investment Counselors Inc. Sells 2,610 Shares of KLA-Tencor Corporation (KLAC)
Keating Investment Counselors Inc. cut its holdings in KLA-Tencor Corporation (NASDAQ:KLAC) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,224 shares of the semiconductor company’s stock after selling 2,610 shares during the period. KLA-Tencor Corporation makes up 2.6% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 16th biggest holding. Keating Investment Counselors Inc.’s holdings in KLA-Tencor Corporation were worth $5,877,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of KLAC. Grove Bank & Trust boosted its holdings in KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Trust Co. of Vermont boosted its holdings in KLA-Tencor Corporation by 3.2% in the first quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 45 shares in the last quarter. IFP Advisors Inc boosted its holdings in KLA-Tencor Corporation by 82.4% in the first quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock worth $195,000 after purchasing an additional 928 shares in the last quarter. Invictus RG bought a new stake in KLA-Tencor Corporation in the first quarter worth $202,000. Finally, Checchi Capital Advisers LLC boosted its holdings in KLA-Tencor Corporation by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 2,205 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 89.18% of the company’s stock.
KLAC has been the subject of a number of recent research reports. BidaskClub cut shares of KLA-Tencor Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Credit Suisse Group set a $115.00 price objective on shares of KLA-Tencor Corporation and gave the stock a “buy” rating in a report on Saturday, July 29th. B. Riley reiterated a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Friday, July 28th. Cowen and Company reiterated a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Tuesday, July 11th. Finally, Stifel Nicolaus upgraded shares of KLA-Tencor Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $106.00 in a report on Sunday, August 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $98.86.
In related news, insider Bobby R. Bell sold 3,526 shares of KLA-Tencor Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $89.93, for a total transaction of $317,093.18. Following the completion of the sale, the insider now owns 9,633 shares of the company’s stock, valued at approximately $866,295.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 314 shares of KLA-Tencor Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total transaction of $29,154.90. Following the sale, the chief financial officer now directly owns 314 shares of the company’s stock, valued at approximately $29,154.90. The disclosure for this sale can be found here. In the last three months, insiders sold 80,518 shares of company stock valued at $7,329,841. Insiders own 0.26% of the company’s stock.
Shares of KLA-Tencor Corporation (NASDAQ:KLAC) traded down 0.38% on Wednesday, hitting $93.30. 201,668 shares of the stock were exchanged. The company has a 50-day moving average price of $93.41 and a 200-day moving average price of $96.42. The firm has a market capitalization of $14.63 billion, a PE ratio of 15.87 and a beta of 1.62. KLA-Tencor Corporation has a one year low of $68.43 and a one year high of $109.59.
KLA-Tencor Corporation (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 88.61%. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $923.80 million. During the same quarter last year, the firm posted $1.77 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, August 11th. This is an increase from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. KLA-Tencor Corporation’s dividend payout ratio (DPR) is 40.14%.
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About KLA-Tencor Corporation
KLA-Tencor Corporation (KLA-Tencor) 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 a number of other high technology industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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