Paloma Partners Management Co Lowers stake in KLA-Tencor Corp (KLAC)

KLA-Tencor Corp (KLAC) : Paloma Partners Management Co reduced its stake in KLA-Tencor Corp by 23.26% during the most recent quarter end. The investment management company now holds a total of 405,343 shares of KLA-Tencor Corp which is valued at $30,595,290 after selling 122,866 shares in KLA-Tencor Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.KLA-Tencor Corp makes up approximately 1.29% of Paloma Partners Management Co’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management added KLAC to its portfolio by purchasing 10,415 company shares during the most recent quarter which is valued at $786,124.Ridgeworth Capital Management reduced its stake in KLAC by selling 669,000 shares or 99.83% in the most recent quarter. The Hedge Fund company now holds 1,127 shares of KLAC which is valued at $83,973. Sphinx Trading Lp sold out all of its stake in KLAC during the most recent quarter. The investment firm sold 400 shares of KLAC which is valued $29,824.

KLA-Tencor Corp opened for trading at $79.03 and hit $80.24 on the upside on Monday, eventually ending the session at $80.04, with a gain of 1.25% or 0.99 points. The heightened volatility saw the trading volume jump to 20,12,282 shares. Company has a market cap of $12,512 M.

On the company’s financial health, KLA-Tencor Corp reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $1.04. The company had revenue of $751.00 million for the quarter, compared to analysts expectations of $734.59 million. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on KLA-Tencor Corp. Company shares were Reiterated by Needham on Oct 21, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $84 .Company shares were Reiterated by Cowen on Oct 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Needham Upgraded KLA-Tencor Corp on Oct 7, 2016 to ” Buy”, Price Target of the shares are set at $84.

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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