Norges Bank Invests $157.62 Million in KLA-Tencor Corp (NASDAQ:KLAC) Stock

Norges Bank acquired a new position in shares of KLA-Tencor Corp (NASDAQ:KLAC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,761,313 shares of the semiconductor company’s stock, valued at approximately $157,620,000. Norges Bank owned 1.16% of KLA-Tencor at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of KLA-Tencor by 2,121.4% in the 4th quarter. American International Group Inc. now owns 4,417,470 shares of the semiconductor company’s stock valued at $395,319,000 after buying an additional 4,218,609 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of KLA-Tencor by 9,077.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,709,361 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 3,668,943 shares in the last quarter. FMR LLC raised its stake in shares of KLA-Tencor by 91.1% in the 4th quarter. FMR LLC now owns 2,103,482 shares of the semiconductor company’s stock valued at $188,240,000 after buying an additional 1,002,949 shares in the last quarter. Deutsche Bank AG raised its stake in shares of KLA-Tencor by 86.7% in the 3rd quarter. Deutsche Bank AG now owns 1,386,302 shares of the semiconductor company’s stock valued at $140,997,000 after buying an additional 643,848 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in shares of KLA-Tencor by 69.2% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,452,622 shares of the semiconductor company’s stock worth $9,525,000 after purchasing an additional 594,056 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

KLAC stock traded up $2.48 during mid-day trading on Wednesday, hitting $125.64. 1,158,809 shares of the company were exchanged, compared to its average volume of 1,541,063. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.35 and a current ratio of 3.03. The company has a market capitalization of $18.64 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.61. KLA-Tencor Corp has a 1-year low of $80.65 and a 1-year high of $127.42.

KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings data on Tuesday, January 29th. The semiconductor company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.24. KLA-Tencor had a net margin of 33.01% and a return on equity of 92.44%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $1.97 earnings per share. Analysts forecast that KLA-Tencor Corp will post 8.43 earnings per share for the current year.

In related news, Director Emiko Higashi sold 2,141 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $117.43, for a total transaction of $251,417.63. Following the transaction, the director now directly owns 8,780 shares in the company, valued at $1,031,035.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ahmad A. Khan sold 3,851 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $107.52, for a total transaction of $414,059.52. The disclosure for this sale can be found here. Insiders sold 8,775 shares of company stock worth $979,331 over the last quarter. 0.19% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on KLAC shares. BidaskClub upgraded shares of KLA-Tencor from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Goldman Sachs Group initiated coverage on shares of KLA-Tencor in a report on Tuesday, April 9th. They set a “sell” rating and a $107.00 price objective on the stock. Cowen reaffirmed an “outperform” rating and issued a $140.00 target price (up previously from $130.00) on shares of KLA-Tencor in a research note on Thursday, March 7th. Zacks Investment Research raised shares of KLA-Tencor from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Tuesday, April 2nd. Finally, Needham & Company LLC began coverage on shares of KLA-Tencor in a research note on Tuesday, April 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. KLA-Tencor presently has a consensus rating of “Buy” and an average price target of $130.55.

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About KLA-Tencor

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

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