Fred Alger Management Inc. held its stake in shares of KLA-Tencor Corporation (NASDAQ:KLAC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,091 shares of the semiconductor company’s stock at the close of the 2nd quarter. Fred Alger Management Inc.’s holdings in KLA-Tencor Corporation were worth $2,296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KLAC. Sun Life Financial INC increased its position in KLA-Tencor Corporation by 14,300.0% in the 2nd quarter. Sun Life Financial INC now owns 1,152 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 1,144 shares during the last quarter. Grove Bank & Trust increased its position in KLA-Tencor Corporation by 30.2% in the 2nd quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 290 shares during the last quarter. Invictus RG acquired a new position in KLA-Tencor Corporation in the 1st quarter worth about $202,000. Checchi Capital Advisers LLC increased its position in KLA-Tencor Corporation by 2.0% in the 2nd 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 during the last quarter. Finally, IBM Retirement Fund increased its position in KLA-Tencor Corporation by 33.6% in the 2nd quarter. IBM Retirement Fund now owns 2,322 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 584 shares during the last quarter. 89.16% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on KLAC shares. Stifel Nicolaus raised KLA-Tencor Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $103.00 to $106.00 in a research report on Sunday, August 6th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating on shares of KLA-Tencor Corporation in a research report on Thursday, August 31st. Cowen and Company reaffirmed a “buy” rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a research report on Tuesday, July 11th. BidaskClub lowered KLA-Tencor Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $99.68.

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In related news, insider Bobby R. Bell sold 4,236 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $105.51, for a total transaction of $446,940.36. Following the sale, the insider now owns 8,908 shares in the company, valued at $939,883.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian Lorig sold 526 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total value of $48,839.10. Following the sale, the senior vice president now owns 1,092 shares in the company, valued at approximately $101,392.20. The disclosure for this sale can be found here. Insiders have sold 84,512 shares of company stock worth $7,726,826 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

KLA-Tencor Corporation (NASDAQ:KLAC) opened at 102.47 on Friday. The stock’s 50 day moving average price is $97.29 and its 200-day moving average price is $97.70. KLA-Tencor Corporation has a one year low of $70.72 and a one year high of $109.59. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 17.43 and a beta of 1.68.

KLA-Tencor Corporation (NASDAQ:KLAC) last released its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. The business had revenue of $938.60 million for the quarter, compared to analyst estimates of $923.80 million. During the same quarter in the prior year, the company posted $1.77 earnings per share. KLA-Tencor Corporation’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.

KLA-Tencor Corporation Company Profile

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.

Institutional Ownership by Quarter for KLA-Tencor Corporation (NASDAQ:KLAC)

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