Westpac Banking Corp lifted its holdings in KLA-Tencor Corp (NASDAQ:KLAC) by 145.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,281 shares of the semiconductor company’s stock after purchasing an additional 88,404 shares during the quarter. Westpac Banking Corp owned 0.10% of KLA-Tencor worth $15,183,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in KLA-Tencor by 187.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,042 shares of the semiconductor company’s stock worth $107,000 after buying an additional 679 shares during the last quarter. Sonora Investment Management LLC increased its holdings in KLA-Tencor by 905.7% during 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. Exane Asset Management acquired a new position in KLA-Tencor during the second quarter worth $165,000. Piedmont Investment Advisors LLC acquired a new position in KLA-Tencor during the second quarter worth $181,000. Finally, First Mercantile Trust Co. increased its holdings in KLA-Tencor by 41.1% during the second quarter. First Mercantile Trust Co. now owns 1,833 shares of the semiconductor company’s stock worth $188,000 after buying an additional 534 shares during the last quarter. 92.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Brian M. Trafas sold 649 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $116.42, for a total value of $75,556.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian Lorig sold 2,547 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were 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 quarter, insiders sold 30,516 shares of company stock worth $3,310,114. Corporate insiders own 0.19% of the company’s stock.
KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings data on Monday, October 29th. The semiconductor company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.25. KLA-Tencor had a net margin of 22.05% and a return on equity of 93.99%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts predict that KLA-Tencor Corp will post 9.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Saturday, November 17th will be issued a $0.75 dividend. The ex-dividend date is Thursday, November 15th. This represents a $3.00 annualized dividend and a dividend yield of 3.18%. KLA-Tencor’s dividend payout ratio is currently 37.50%.
A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of KLA-Tencor from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of KLA-Tencor from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Wednesday, August 1st. KeyCorp lowered their target price on shares of KLA-Tencor from $152.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, October 30th. Cowen boosted their target price on shares of KLA-Tencor from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, BidaskClub upgraded shares of KLA-Tencor from a “strong sell” rating to a “sell” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. KLA-Tencor currently has an average rating of “Hold” and an average target price of $129.54.
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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