Alpine Associates Management Lowers stake in KLA-Tencor Corp (KLAC)

KLA-Tencor Corp (KLAC) : Alpine Associates Management reduced its stake in KLA-Tencor Corp by 0.21% during the most recent quarter end. The investment management company now holds a total of 1,487,106 shares of KLA-Tencor Corp which is valued at $101,539,598 after selling 3,198 shares in KLA-Tencor Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.KLA-Tencor Corp makes up approximately 4.40% of Alpine Associates Management’s portfolio.

Other Hedge Funds, Including , Norges Bank reduced its stake in KLAC by selling 7,313 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 1,360,082 shares of KLAC which is valued at $92,866,399. KLA-Tencor Corp makes up approx 0.04% of Norges Bank’s portfolio.Wfg Advisors Lp reduced its stake in KLAC by selling 27 shares or 77.14% in the most recent quarter. The Hedge Fund company now holds 8 shares of KLAC which is valued at $546.Credit Suisse Ag boosted its stake in KLAC in the latest quarter, The investment management firm added 82,600 additional shares and now holds a total of 497,983 shares of KLA-Tencor Corp which is valued at $34,002,279. KLA-Tencor Corp makes up approx 0.04% of Credit Suisse Ag’s portfolio.Teachers Advisors Inc boosted its stake in KLAC in the latest quarter, The investment management firm added 4,158 additional shares and now holds a total of 184,181 shares of KLA-Tencor Corp which is valued at $12,575,879. KLA-Tencor Corp makes up approx 0.02% of Teachers Advisors Inc’s portfolio.

KLA-Tencor Corp opened for trading at $68.58 and hit $69.74 on the upside on Monday, eventually ending the session at $68.73, with a gain of 1.79% or 1.21 points. The heightened volatility saw the trading volume jump to 19,67,604 shares. Company has a market cap of $10,722 M.

On the company’s financial health, KLA-Tencor Corp reported $1.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.42. The company had revenue of $919.17 million for the quarter, compared to analysts expectations of $842.10 million. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on KLA-Tencor Corp. Company shares were Upgraded by Cowen on Aug 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $79 .Company shares were Reiterated by Cowen on Jul 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 79 from a previous price target of $70 .

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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