Keybank National Association OH Reduces Stake in KLA-Tencor Corp (KLAC)
Keybank National Association OH decreased its holdings in KLA-Tencor Corp (NASDAQ:KLAC) by 44.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,980 shares of the semiconductor company’s stock after selling 4,696 shares during the period. Keybank National Association OH’s holdings in KLA-Tencor were worth $613,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of KLAC. Financial Gravity Wealth Inc. acquired a new position in KLA-Tencor in the first quarter worth approximately $106,000. Institutional & Family Asset Management LLC acquired a new position in KLA-Tencor in the first quarter worth approximately $107,000. Sonora Investment Management LLC increased its holdings in KLA-Tencor by 905.7% in the second quarter. Sonora Investment Management LLC now owns 1,066 shares of the semiconductor company’s stock worth $109,000 after buying an additional 960 shares during the last quarter. Silvant Capital Management LLC acquired a new position in KLA-Tencor in the first quarter worth approximately $123,000. Finally, First Mercantile Trust Co. increased its holdings in KLA-Tencor by 121.7% in the first quarter. First Mercantile Trust Co. now owns 1,299 shares of the semiconductor company’s stock worth $142,000 after buying an additional 713 shares during the last quarter. Institutional investors own 91.85% of the company’s stock.
In other news, SVP Virendra A. Kirloskar sold 1,537 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $118.87, for a total value of $182,703.19. 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 3,851 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $115.31, for a total value of $444,058.81. The disclosure for this sale can be found here. Insiders have sold 32,614 shares of company stock valued at $3,827,549 in the last ninety days. Company insiders own 0.20% of the company’s stock.
KLA-Tencor (NASDAQ:KLAC) last announced its earnings results on Monday, July 30th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. KLA-Tencor had a return on equity of 88.65% and a net margin of 19.87%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. equities analysts predict that KLA-Tencor Corp will post 9.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. KLA-Tencor’s payout ratio is currently 37.50%.
A number of equities analysts recently commented on KLAC shares. BidaskClub downgraded KLA-Tencor from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. B. Riley dropped their price objective on KLA-Tencor from $152.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Zacks Investment Research downgraded KLA-Tencor from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Citigroup dropped their price objective on KLA-Tencor from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, July 13th. Finally, Evercore ISI decreased their target price on KLA-Tencor to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $132.33.
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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