KLA-Tencor Corporation (KLAC) Shares Sold by Comerica Bank
Comerica Bank decreased its stake in KLA-Tencor Corporation (NASDAQ:KLAC) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 42,710 shares of the semiconductor company’s stock after selling 1,019 shares during the period. Comerica Bank’s holdings in KLA-Tencor Corporation were worth $4,280,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of KLAC. Grove Bank & Trust boosted its position 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 valued at $114,000 after buying an additional 290 shares in the last quarter. Trust Co. of Vermont boosted its position 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 valued at $138,000 after buying an additional 45 shares in the last quarter. IFP Advisors Inc boosted its position 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 valued at $195,000 after buying an additional 928 shares in the last quarter. Advisory Services Network LLC acquired a new position in KLA-Tencor Corporation during the first quarter valued at $202,000. Finally, Invictus RG acquired a new position in KLA-Tencor Corporation during the first quarter valued at $202,000. 89.15% of the stock is owned by institutional investors and hedge funds.
Shares of KLA-Tencor Corporation (NASDAQ:KLAC) opened at 90.48 on Monday. KLA-Tencor Corporation has a 1-year low of $66.89 and a 1-year high of $109.59. The stock has a 50 day moving average price of $94.21 and a 200 day moving average price of $95.99. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 15.39 and a beta of 1.62.
KLA-Tencor Corporation (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $923.80 million. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 88.61%. KLA-Tencor Corporation’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. Analysts forecast that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.59 dividend. The ex-dividend date is Friday, August 11th. This is an increase from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 2.61%. KLA-Tencor Corporation’s dividend payout ratio (DPR) is 40.14%.
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Several equities analysts recently weighed in on KLAC shares. BidaskClub cut KLA-Tencor Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. B. Riley reissued a “buy” rating and set a $115.00 price objective on shares of KLA-Tencor Corporation in a research report on Wednesday, May 3rd. Cowen and Company reissued a “buy” rating and set a $120.00 price objective on shares of KLA-Tencor Corporation in a research report on Tuesday, July 11th. Credit Suisse Group set a $115.00 price objective on KLA-Tencor Corporation and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, Stifel Nicolaus raised KLA-Tencor Corporation from a “hold” rating to a “buy” rating and boosted their price objective 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. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. KLA-Tencor Corporation has a consensus rating of “Hold” and an average target price of $98.86.
In related news, SVP Virendra A. Kirloskar sold 314 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $91.74, for a total value of $28,806.36. Following the completion of the transaction, the senior vice president now directly owns 611 shares of the company’s stock, valued at approximately $56,053.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Virendra A. Kirloskar sold 6,307 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $89.15, for a total transaction of $562,269.05. Following the completion of the transaction, the senior vice president now directly owns 2,022 shares of the company’s stock, valued at $180,261.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,518 shares of company stock valued at $7,329,841. 0.26% of the stock is owned by insiders.
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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