Oppenheimer & Co. Inc. purchased a new stake in KLA-Tencor Corp (NASDAQ:KLAC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,244 shares of the semiconductor company’s stock, valued at approximately $517,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in KLA-Tencor by 7.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,604 shares of the semiconductor company’s stock valued at $2,329,000 after buying an additional 1,056 shares during the last quarter. California Public Employees Retirement System grew its stake in KLA-Tencor by 24.4% in the 3rd quarter. California Public Employees Retirement System now owns 353,637 shares of the semiconductor company’s stock valued at $56,387,000 after purchasing an additional 69,361 shares during the period. Hikari Power Ltd bought a new position in KLA-Tencor in the 3rd quarter valued at $257,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in KLA-Tencor by 5.2% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,668 shares of the semiconductor company’s stock valued at $6,644,000 after purchasing an additional 2,050 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in KLA-Tencor by 1.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,115 shares of the semiconductor company’s stock valued at $1,134,000 after purchasing an additional 105 shares during the period. 87.35% of the stock is owned by institutional investors and hedge funds.
KLAC stock opened at $174.21 on Friday. The company has a market capitalization of $27.14 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.47 and a beta of 1.72. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.60 and a current ratio of 2.24. KLA-Tencor Corp has a fifty-two week low of $80.65 and a fifty-two week high of $175.43. The stock has a fifty day moving average of $163.20 and a 200-day moving average of $135.27.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from KLA-Tencor’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, November 15th. KLA-Tencor’s dividend payout ratio (DPR) is currently 35.46%.
In related news, CEO Amichai Steimberg sold 8,962 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $138.80, for a total transaction of $1,243,925.60. Following the transaction, the chief executive officer now directly owns 19,892 shares in the company, valued at approximately $2,761,009.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 6,751 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $158.01, for a total value of $1,066,725.51. Following the transaction, the chief financial officer now owns 1,692 shares in the company, valued at $267,352.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,410 shares of company stock worth $4,535,477. 0.19% of the stock is currently owned by insiders.
A number of research analysts have issued reports on the company. UBS Group upped their price objective on KLA-Tencor from $165.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Co upped their price objective on KLA-Tencor from $150.00 to $175.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Credit Suisse Group upped their price objective on KLA-Tencor from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on KLA-Tencor from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research upgraded KLA-Tencor from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $176.08.
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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