State Treasurer State of Michigan Buys 3,800 Shares of KLA-Tencor Corp (KLAC)

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State Treasurer State of Michigan boosted its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 8.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,577 shares of the semiconductor company’s stock after buying an additional 3,800 shares during the quarter. State Treasurer State of Michigan’s holdings in KLA-Tencor were worth $5,681,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Advisors Preferred LLC purchased a new position in shares of KLA-Tencor during the 1st quarter worth $26,000. NuWave Investment Management LLC purchased a new position in shares of KLA-Tencor during the 1st quarter worth $27,000. Resources Investment Advisors Inc. purchased a new position in shares of KLA-Tencor during the 4th quarter worth $29,000. Parallel Advisors LLC lifted its stake in shares of KLA-Tencor by 152.3% during the 1st quarter. Parallel Advisors LLC now owns 333 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 201 shares during the period. Finally, Spectrum Management Group Inc. purchased a new position in shares of KLA-Tencor during the 1st quarter worth $40,000. 92.81% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Teri A. Little sold 1,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $110.38, for a total value of $165,570.00. Following the completion of the sale, the executive vice president now directly owns 5,517 shares in the company, valued at approximately $608,966.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ahmad A. Khan sold 3,633 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.25, for a total value of $422,336.25. Following the completion of the sale, the executive vice president now owns 549 shares of the company’s stock, valued at $63,821.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,943 shares of company stock valued at $1,033,979. Insiders own 0.19% of the company’s stock.

A number of brokerages have weighed in on KLAC. Goldman Sachs Group began coverage on KLA-Tencor in a research note on Tuesday, April 9th. They set a “sell” rating and a $107.00 price target on the stock. UBS Group increased their price target on KLA-Tencor from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Needham & Company LLC reissued a “hold” rating on shares of KLA-Tencor in a research note on Tuesday, May 7th. Cowen reissued an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of KLA-Tencor in a research note on Tuesday, May 7th. Finally, KeyCorp increased their price target on KLA-Tencor from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $133.36.

KLAC stock opened at $109.00 on Thursday. The firm has a market cap of $17.62 billion, a PE ratio of 13.63, a PEG ratio of 1.17 and a beta of 1.61. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.61 and a quick ratio of 1.84. KLA-Tencor Corp has a 52 week low of $80.65 and a 52 week high of $129.03.

KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.17. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. KLA-Tencor had a return on equity of 72.34% and a net margin of 29.83%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 EPS. On average, analysts forecast that KLA-Tencor Corp will post 8.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. KLA-Tencor’s payout ratio is 37.50%.

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KLA-Tencor 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.

Read More: 52-Week High/Low Prices For Stock Selection

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

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