Institutional Move: As Kla Tencor Corp (KLAC) Share Price Declined, Holder Gabelli Securities INC Decreased by $5.80 Million Its Stake

Institutional Move: As Kla Tencor Corp (KLAC) Share Price Declined, Holder Gabelli Securities INC Decreased by $5.80 Million Its Stake

Gabelli Securities Inc decreased its stake in Kla Tencor Corp (KLAC) by 34.15% based on its latest 2016Q3 regulatory filing with the SEC. Gabelli Securities Inc sold 84,025 shares as the company’s stock declined 3.85% while stock markets rallied. The hedge fund held 162,052 shares of the electronic components company at the end of 2016Q3, valued at $11.30 million, down from 246,077 at the end of the previous reported quarter. Gabelli Securities Inc who had been investing in Kla Tencor Corp for a number of months, seems to be less bullish one the $12.45 billion market cap company. The stock is up 0.74% or $0.59 hitting $79.92, despite the negative news. About 739,520 shares traded hands. KLA-Tencor Corp (NASDAQ:KLAC) has risen 8.73% since June 7, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

Gabelli Securities Inc, which manages about $1.30 billion and $854.49 million US Long portfolio, upped its stake in Lexmark Intl Group Inc Cl A (NYSE:LXK) by 181,579 shares to 382,599 shares, valued at $15.29 million in 2016Q3, according to the filing. It also increased its holding in Humana Inc Com (NYSE:HUM) by 19,925 shares in the quarter, for a total of 130,475 shares, and has risen its stake in Cst Brands Inc Com (NYSE:CST).

Gabelli Securities Inc is a New York-based hedge fund with more than $1.30 billion AUM in March, 2014. Taken from Gabelli Securities latest Adv, the fund reported to have 19 full and part-time employees. Among which 4 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment increased to 1.61 in Q3 2016. Its up 0.28, from 1.33 in 2016Q2. The ratio is positive, as 27 funds sold all KLAC shares owned while 111 reduced positions. 85 funds bought stakes while 137 increased positions. They now own 127.41 million shares or 0.76% more from 126.45 million shares in 2016Q2. Estabrook Cap Management holds 0% or 44 shares in its portfolio. Hussman Strategic Advsrs last reported 1.73% of its portfolio in the stock. Hood River Capital Mngmt Lc owns 54 shares or 0% of their US portfolio. Nomura Holding accumulated 0% or 4,556 shares. Gabelli Funds Limited Company accumulated 0% or 3,000 shares. The California-based Cap Invsts has invested 0.02% in KLA-Tencor Corp (NASDAQ:KLAC). Thompson Siegel Walmsley Lc has invested 0.3% of its portfolio in KLA-Tencor Corp (NASDAQ:KLAC). Bank Of Montreal Can holds 240,950 shares or 0.02% of its portfolio. Walleye Trading Ltd Limited Liability Company holds 0% or 10,873 shares in its portfolio. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment has 182,600 shares for 0.12% of their US portfolio. Shinko Asset Mngmt Ltd holds 408 shares or 0% of its portfolio. 1832 Asset Mgmt LP holds 0% of its portfolio in KLA-Tencor Corp (NASDAQ:KLAC) for 1,400 shares. State Board Of Administration Of Florida Retirement Sys has 0.05% invested in the company for 240,292 shares. Victory Cap Management last reported 0.24% of its portfolio in the stock. Wellington Gru Llp last reported 51,393 shares in the company.

Insider Transactions: Since October 25, 2016, the stock had 0 insider buys, and 9 insider sales for $8.97 million net activity. Another trade for 8,095 shares valued at $604,713 was sold by Trafas Brian M.. On Thursday, December 8 the insider WALLACE RICHARD P sold $2.77M. Khan Ahmad A. had sold 10,775 shares worth $806,196 on Tuesday, October 25. The insider PATEL KIRAN M sold 6,000 shares worth $494,670. The insider Higgins Bren D. sold $360,631. Kirk Michael had sold 19,750 shares worth $1.47M on Tuesday, October 25. 7,682 shares were sold by Bell Bobby R, worth $572,109 on Tuesday, October 25.

Analysts await KLA-Tencor Corp (NASDAQ:KLAC) to report earnings on January, 26. They expect $1.40 earnings per share, up 34.62% or $0.36 from last year’s $1.04 per share. KLAC’s profit will be $218.09M for 14.27 P/E if the $1.40 EPS becomes a reality. After $1.16 actual earnings per share reported by KLA-Tencor Corp for the previous quarter, Wall Street now forecasts 20.69% EPS growth.

More recent KLA-Tencor Corp (NASDAQ:KLAC) news were published by: Forbes.com which released: “KLA-Tencor Reaches Analyst Target Price” on November 23, 2016. Also Valuewalk.com published the news titled: “Analysis Of KLA-Tencor Corp (KLAC) Dividend Increase” on November 08, 2016. Bloomberg.com‘s news article titled: “Lam Research, KLA-Tencor Say Deal Faces Regulatory Holdups” with publication date: August 10, 2016 was also an interesting one.

According to Zacks Investment Research, “KLA-Tencor Corporation is one of the world’s leading suppliers of process control and yield management solutions for the semiconductor and related microelectronics industries. Its comprehensive portfolio of products, software, analysis, services and expertise is designed to help integrated circuit manufacturers manage yield throughout the entire wafer fabrication process.”

KLA-Tencor Corp (NASDAQ:KLAC) Ratings Coverage

Out of 14 analysts covering KLA-Tencor Corporation (NASDAQ:KLAC), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. KLA-Tencor Corporation has been the topic of 30 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, October 22 by Piper Jaffray. Cowen & Co upgraded the shares of KLAC in a report on Monday, August 29 to “Outperform” rating. Cowen & Co maintained it with “Outperform” rating and $85 target price in Friday, October 21 report. The firm has “Buy” rating by Needham given on Friday, October 21. Cowen & Co maintained KLA-Tencor Corp (NASDAQ:KLAC) rating on Friday, July 31. Cowen & Co has “Market Perform” rating and $60 price target. The firm has “Buy” rating by Goldman Sachs given on Monday, December 19. The stock has “Market Perform” rating given by Cowen & Co on Thursday, October 22. The firm has “Neutral” rating by Nomura given on Monday, October 26. The firm has “Neutral” rating by UBS given on Thursday, October 22. RBC Capital Markets maintained KLA-Tencor Corp (NASDAQ:KLAC) rating on Friday, July 31. RBC Capital Markets has “Sector Perform” rating and $51 price target.

KLAC Company Profile

KLA-Tencor Corporation (KLA-Tencor), incorporated on July 9, 1975, 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 a number of other high technology industries, including the light emitting diode (LED) and data storage industries, as well as general materials research. The Company’s services and products are used by bare wafer, integrated circuit (IC), lithography reticle (reticle or mask) and disk manufacturers around the world. These clients 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. The Company’s inspection and metrology products and related offerings are categorized in various groups, including Chip Manufacturing, Wafer Manufacturing, Reticle Manufacturing, LED, Power Device and Compound Semiconductor Manufacturing, Data Storage Media/Head Manufacturing, Microelectromechanical Systems (MEMS) Manufacturing, and General Purpose/Lab Applications. It also provides refurbished KLA-Tencor tools as service and support for its products.

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