Alpine Associates Management buys $102.2 Million stake in KLA-Tencor Corp (KLAC)

KLA-Tencor Corp (KLAC) : Alpine Associates Management scooped up 60,216 additional shares in KLA-Tencor Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,490,304 shares of KLA-Tencor Corp which is valued at $102.2 Million.KLA-Tencor Corp makes up approximately 4.50% of Alpine Associates Management’s portfolio.

Other Hedge Funds, Including , Kellner Capital boosted its stake in KLAC in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 65,400 shares of KLA-Tencor Corp which is valued at $4.5 Million. KLA-Tencor Corp makes up approx 3.15% of Kellner Capital’s portfolio.Mutual Of America Capital Management reduced its stake in KLAC by selling 10 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 23,953 shares of KLAC which is valued at $1.6 Million. KLA-Tencor Corp makes up approx 0.04% of Mutual Of America Capital Management’s portfolio.State Treasurer State Of Michigan boosted its stake in KLAC in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 53,637 shares of KLA-Tencor Corp which is valued at $3.7 Million. KLA-Tencor Corp makes up approx 0.03% of State Treasurer State Of Michigan’s portfolio. South Dakota Investment Council sold out all of its stake in KLAC during the most recent quarter. The investment firm sold 9,000 shares of KLAC which is valued $624,240.Candriam Luxembourg S.c.a. boosted its stake in KLAC in the latest quarter, The investment management firm added 901 additional shares and now holds a total of 3,790 shares of KLA-Tencor Corp which is valued at $265,073. KLA-Tencor Corp makes up approx 0.01% of Candriam Luxembourg S.c.a.’s portfolio.

KLA-Tencor Corp opened for trading at $68.44 and hit $69.75 on the upside on Friday, eventually ending the session at $69.59, with a gain of 2.52% or 1.71 points. The heightened volatility saw the trading volume jump to 10,20,901 shares. Company has a market cap of $10,835,720 M.

On the company’s financial health, KLA-Tencor Corp reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.97. The company had revenue of $712.00 million for the quarter, compared to analysts expectations of $721.06 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on KLA-Tencor Corp. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

KLA-Tencor Corporation 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 various other industries including the light emitting diode (LED) and data storage industries as well as general materials research. KLA-Tencor’s products and services are used by bare wafer integrated circuit (IC) lithography reticle and disk manufacturers around the world. These customers turn to the Company for inline wafer and IC defect monitoring review and classification; reticle defect inspection and metrology; packaging and interconnect inspection; critical dimension (CD) metrology; pattern overlay metrology; film thickness surface topography and composition measurements; measurement of in-chamber process conditions wafer shape and stress metrology; computational lithography tools and overall yield and fab-wide data management and analysis systems.

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