State Street Corp Sells 176,486 Shares of KLA-Tencor Corporation (KLAC)

State Street Corp decreased its holdings in KLA-Tencor Corporation (NASDAQ:KLAC) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,724,683 shares of the semiconductor company’s stock after selling 176,486 shares during the period. State Street Corp owned approximately 4.29% of KLA-Tencor Corporation worth $615,375,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC raised its holdings in KLA-Tencor Corporation by 14,300.0% in the 2nd quarter. Sun Life Financial INC now owns 1,152 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 1,144 shares during the last quarter. Grove Bank & Trust raised its holdings in KLA-Tencor Corporation by 30.2% in the 2nd quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Invictus RG acquired a new stake in KLA-Tencor Corporation in the 1st quarter valued at about $202,000. Checchi Capital Advisers LLC raised its holdings in KLA-Tencor Corporation by 2.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,205 shares of the semiconductor company’s stock valued at $202,000 after acquiring an additional 44 shares during the last quarter. Finally, IBM Retirement Fund raised its holdings in KLA-Tencor Corporation by 33.6% in the 2nd quarter. IBM Retirement Fund now owns 2,322 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 584 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

KLAC has been the subject of a number of recent research reports. Stifel Nicolaus upgraded shares of KLA-Tencor Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $103.00 to $106.00 in a report on Sunday, August 6th. They noted that the move was a valuation call. Credit Suisse Group reiterated an “outperform” rating on shares of KLA-Tencor Corporation in a report on Thursday, August 31st. Cowen and Company reiterated a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Tuesday, July 11th. BidaskClub downgraded shares of KLA-Tencor Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of KLA-Tencor Corporation in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $99.68.

In related news, insider Richard P. Wallace sold 37,377 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $90.86, for a total transaction of $3,396,074.22. Following the completion of the transaction, the insider now owns 58,831 shares of the company’s stock, valued at $5,345,384.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian Lorig sold 526 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total transaction of $48,839.10. Following the transaction, the senior vice president now directly owns 1,092 shares of the company’s stock, valued at approximately $101,392.20. The disclosure for this sale can be found here. In the last three months, insiders sold 84,512 shares of company stock valued at $7,726,826. Company insiders own 0.20% of the company’s stock.

Shares of KLA-Tencor Corporation (NASDAQ KLAC) opened at 104.27 on Wednesday. KLA-Tencor Corporation has a 1-year low of $70.72 and a 1-year high of $109.59. The stock has a market cap of $16.35 billion, a PE ratio of 17.73 and a beta of 1.68. The stock has a 50 day moving average of $98.12 and a 200 day moving average of $97.86.

KLA-Tencor Corporation (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. Equities research analysts forecast that KLA-Tencor Corporation will post $6.70 EPS for the current year.

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KLA-Tencor Corporation Company Profile

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.

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

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