State Farm Mutual Automobile Insurance Co. continued to hold its stake in KLA-Tencor Corporation (NASDAQ:KLAC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,218,200 shares of the semiconductor company’s stock at the close of the 2nd quarter. State Farm Mutual Automobile Insurance Co. owned 0.78% of KLA-Tencor Corporation worth $111,477,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KLAC. Strs Ohio raised its holdings in shares of KLA-Tencor Corporation by 2.5% in the 1st quarter. Strs Ohio now owns 10,626 shares of the semiconductor company’s stock valued at $1,010,000 after purchasing an additional 255 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of KLA-Tencor Corporation by 82.4% in the 1st quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock valued at $195,000 after purchasing an additional 928 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of KLA-Tencor Corporation by 77.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,450 shares of the semiconductor company’s stock valued at $708,000 after purchasing an additional 3,250 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of KLA-Tencor Corporation by 54.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 143,230 shares of the semiconductor company’s stock valued at $13,617,000 after purchasing an additional 50,546 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of KLA-Tencor Corporation by 3.2% in the 1st quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 89.16% of the company’s stock.
KLA-Tencor Corporation (NASDAQ KLAC) opened at 100.59 on Friday. The firm’s 50-day moving average is $92.98 and its 200 day moving average is $96.89. The stock has a market capitalization of $15.78 billion, a P/E ratio of 17.11 and a beta of 1.62. KLA-Tencor Corporation has a 12 month low of $68.43 and a 12 month high of $109.59.
KLA-Tencor Corporation (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The business had revenue of $938.60 million during the quarter, compared to analyst estimates of $923.80 million. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 88.61%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share. On average, equities analysts anticipate that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $2.36 annualized dividend and a dividend yield of 2.35%. This is a positive change from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. KLA-Tencor Corporation’s dividend payout ratio is currently 40.14%.
In related news, Director Kevin Kennedy sold 2,500 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $91.33, for a total value of $228,325.00. Following the completion of the transaction, the director now owns 6,219 shares in the company, valued at approximately $567,981.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian Lorig sold 2,893 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $95.24, for a total transaction of $275,529.32. Following the completion of the transaction, the senior vice president now owns 566 shares of the company’s stock, valued at approximately $53,905.84. The disclosure for this sale can be found here. Insiders have sold 83,350 shares of company stock valued at $7,560,869 in the last 90 days. Insiders own 0.26% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Goldman Sachs Group, Inc. (The) lowered shares of KLA-Tencor Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $108.00 to $97.00 in a report on Wednesday, September 13th. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Friday, September 1st. Credit Suisse Group reaffirmed an “outperform” rating on shares of KLA-Tencor Corporation in a research report on Thursday, August 31st. Stifel Nicolaus raised shares of KLA-Tencor Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $103.00 to $106.00 in a research report on Sunday, August 6th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of KLA-Tencor Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $99.40.
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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