Meeder Asset Management Inc. grew its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 115.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,323 shares of the semiconductor company’s stock after buying an additional 10,904 shares during the period. Meeder Asset Management Inc.’s holdings in KLA-Tencor were worth $2,427,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in KLAC. American International Group Inc. lifted its position in shares of KLA-Tencor by 2,121.4% in the fourth quarter. American International Group Inc. now owns 4,417,470 shares of the semiconductor company’s stock worth $395,319,000 after buying an additional 4,218,609 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of KLA-Tencor by 9,077.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,709,361 shares of the semiconductor company’s stock worth $41,000 after buying an additional 3,668,943 shares during the last quarter. Norges Bank acquired a new stake in shares of KLA-Tencor in the fourth quarter worth about $157,620,000. FMR LLC lifted its position in shares of KLA-Tencor by 91.1% in the fourth quarter. FMR LLC now owns 2,103,482 shares of the semiconductor company’s stock worth $188,240,000 after buying an additional 1,002,949 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of KLA-Tencor by 69.2% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,452,622 shares of the semiconductor company’s stock worth $9,525,000 after buying an additional 594,056 shares during the last quarter. 92.44% of the stock is owned by institutional investors.
In related news, insider Brian M. Trafas sold 1,114 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $107.00, for a total transaction of $119,198.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,669 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $116.63, for a total value of $194,655.47. The disclosure for this sale can be found here. Insiders have sold a total of 8,775 shares of company stock valued at $979,331 in the last three months. 0.19% of the stock is owned by insiders.
KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings data on Tuesday, January 29th. The semiconductor company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.24. KLA-Tencor had a return on equity of 92.44% and a net margin of 33.01%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. As a group, analysts expect that KLA-Tencor Corp will post 8.43 EPS for the current year.
A number of brokerages have weighed in on KLAC. BidaskClub cut KLA-Tencor from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC began coverage on KLA-Tencor in a research report on Tuesday. They issued a “hold” rating for the company. Zacks Investment Research cut KLA-Tencor from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Goldman Sachs Group initiated coverage on KLA-Tencor in a research report on Tuesday, April 9th. They set a “sell” rating and a $107.00 price objective for the company. Finally, Cowen reissued an “outperform” rating and set a $120.00 price objective on shares of KLA-Tencor in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $130.55.
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KLA-Tencor Company Profile
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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