KLA-Tencor Corp (NASDAQ:KLAC) Short Interest Up 24.6% in September

KLA-Tencor Corp (NASDAQ:KLAC) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,600,000 shares, an increase of 24.6% from the August 30th total of 2,890,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 2.3 days. Currently, 2.3% of the shares of the company are sold short.

KLAC has been the topic of a number of research reports. KeyCorp increased their price objective on shares of KLA-Tencor from $152.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. BidaskClub upgraded shares of KLA-Tencor from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. increased their price objective on shares of KLA-Tencor from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Bank of America increased their price objective on shares of KLA-Tencor from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Co increased their price objective on shares of KLA-Tencor from $120.00 to $150.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $154.23.

In other news, CFO Bren D. Higgins sold 6,751 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $158.01, for a total value of $1,066,725.51. Following the sale, the chief financial officer now owns 1,692 shares in the company, valued at $267,352.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Virendra A. Kirloskar sold 1,988 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $130.46, for a total transaction of $259,354.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,284 shares of company stock valued at $6,893,570. Corporate insiders own 0.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. We Are One Seven LLC grew its position in shares of KLA-Tencor by 2.8% in the third quarter. We Are One Seven LLC now owns 2,730 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 74 shares during the period. Miles Capital Inc. grew its position in shares of KLA-Tencor by 4.2% in the second quarter. Miles Capital Inc. now owns 1,922 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 78 shares during the period. Keybank National Association OH grew its position in shares of KLA-Tencor by 4.0% in the second quarter. Keybank National Association OH now owns 2,871 shares of the semiconductor company’s stock valued at $339,000 after purchasing an additional 111 shares during the period. Cleararc Capital Inc. grew its position in shares of KLA-Tencor by 4.7% in the first quarter. Cleararc Capital Inc. now owns 2,750 shares of the semiconductor company’s stock valued at $328,000 after purchasing an additional 124 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its position in shares of KLA-Tencor by 3.3% in the first quarter. Meiji Yasuda Life Insurance Co now owns 4,044 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 129 shares during the period. Institutional investors own 87.68% of the company’s stock.

KLAC stock traded up $2.82 during midday trading on Friday, hitting $160.22. 1,036,797 shares of the stock traded hands, compared to its average volume of 1,563,413. The firm has a market cap of $24.95 billion, a P/E ratio of 18.94, a PEG ratio of 1.43 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.44 and a quick ratio of 1.73. The stock’s fifty day simple moving average is $152.72 and its 200-day simple moving average is $129.03. KLA-Tencor has a 1-year low of $80.65 and a 1-year high of $162.68.

KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings results on Monday, August 5th. The semiconductor company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.07. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. KLA-Tencor had a net margin of 25.73% and a return on equity of 60.86%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business earned $2.22 earnings per share. On average, research analysts predict that KLA-Tencor will post 9.5 earnings per share for the current year.

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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