Cypress Capital Group Takes Position in KLA-Tencor Corp (KLAC)

Cypress Capital Group bought a new position in shares of KLA-Tencor Corp (NASDAQ:KLAC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,173 shares of the semiconductor company’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC acquired a new stake in KLA-Tencor during the third quarter worth about $223,000. IFM Investors Pty Ltd acquired a new stake in KLA-Tencor during the third quarter worth about $438,000. California Public Employees Retirement System grew its position in KLA-Tencor by 7.8% during the third quarter. California Public Employees Retirement System now owns 443,338 shares of the semiconductor company’s stock worth $46,994,000 after buying an additional 32,200 shares in the last quarter. Janney Montgomery Scott LLC grew its position in KLA-Tencor by 6.8% during the third quarter. Janney Montgomery Scott LLC now owns 23,673 shares of the semiconductor company’s stock worth $2,509,000 after buying an additional 1,500 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in KLA-Tencor during the third quarter worth about $212,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on KLAC. B. Riley reissued a “buy” rating and set a $129.00 target price (up from $120.00) on shares of KLA-Tencor in a research report on Friday, October 27th. J P Morgan Chase & Co reissued a “buy” rating and set a $136.00 target price on shares of KLA-Tencor in a research report on Friday, October 27th. Citigroup lifted their target price on KLA-Tencor from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of KLA-Tencor in a research report on Thursday, October 19th. Finally, Stifel Nicolaus lifted their price objective on KLA-Tencor from $106.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $108.68.

Shares of KLA-Tencor Corp (KLAC) opened at $103.06 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.59 and a current ratio of 3.11. The firm has a market capitalization of $16,274.12, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.63. KLA-Tencor Corp has a 1-year low of $77.34 and a 1-year high of $110.00.

KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.17. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $946.86 million. KLA-Tencor had a return on equity of 84.61% and a net margin of 27.82%. The company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. equities research analysts predict that KLA-Tencor Corp will post 7.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, November 14th. KLA-Tencor’s payout ratio is 36.14%.

In other news, Director Emiko Higashi sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $101.26, for a total value of $50,630.00. Following the transaction, the director now directly owns 15,229 shares of the company’s stock, valued at approximately $1,542,088.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bobby R. Bell sold 4,236 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $105.51, for a total value of $446,940.36. Following the completion of the transaction, the insider now directly owns 8,908 shares in the company, valued at $939,883.08. The disclosure for this sale can be found here. Insiders sold a total of 34,400 shares of company stock worth $3,585,084 over the last three months. 0.20% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: “Cypress Capital Group Takes Position in KLA-Tencor Corp (KLAC)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2017/12/13/cypress-capital-group-takes-position-in-kla-tencor-corp-klac.html.

About KLA-Tencor

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.

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA-Tencor Corp (NASDAQ:KLAC).

Institutional Ownership by Quarter for KLA-Tencor (NASDAQ:KLAC)

Receive News & Ratings for KLA-Tencor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA-Tencor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply