Envestnet Asset Management Inc. lessened its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 8.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,717 shares of the semiconductor company’s stock after selling 736 shares during the period. Envestnet Asset Management Inc.’s holdings in KLA-Tencor were worth $792,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of KLA-Tencor by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 20,908 shares of the semiconductor company’s stock valued at $2,279,000 after buying an additional 465 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of KLA-Tencor by 6.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,543 shares of the semiconductor company’s stock worth $822,000 after acquiring an additional 477 shares during the period. Donaldson Capital Management LLC increased its stake in shares of KLA-Tencor by 2.7% during the second quarter. Donaldson Capital Management LLC now owns 18,524 shares of the semiconductor company’s stock worth $1,899,000 after acquiring an additional 481 shares during the period. IFM Investors Pty Ltd increased its stake in shares of KLA-Tencor by 11.7% during the first quarter. IFM Investors Pty Ltd now owns 4,613 shares of the semiconductor company’s stock worth $503,000 after acquiring an additional 483 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in KLA-Tencor by 7.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,430 shares of the semiconductor company’s stock worth $762,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.
Several brokerages have issued reports on KLAC. Zacks Investment Research raised shares of KLA-Tencor from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Wednesday, June 27th. BidaskClub downgraded shares of KLA-Tencor from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Needham & Company LLC downgraded shares of KLA-Tencor from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. B. Riley reduced their price target on shares of KLA-Tencor from $152.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Finally, Cowen upped their price objective on shares of KLA-Tencor from $140.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. KLA-Tencor currently has an average rating of “Buy” and an average target price of $136.14.
KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings data on Monday, July 30th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. KLA-Tencor had a net margin of 19.87% and a return on equity of 88.65%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Research analysts forecast that KLA-Tencor Corp will post 9.28 earnings per share for the current fiscal year.
In related news, SVP Virendra A. Kirloskar sold 1,537 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $118.87, for a total transaction of $182,703.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Lorig sold 2,547 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $117.37, for a total transaction of $298,941.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,880 shares of company stock valued at $6,075,839. Company insiders own 0.20% of the company’s stock.
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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