Semiconductor manufacturing company, KLA-Tencor Corporation(KLAC) saw a decline in earnings for their Q2, but beat analysts estimates on Friday.
The Milpitas, CA based company reported second quarter earnings of $107 million, or 63 cents per share, down -12% from $122 million, or 72 cents per share last year. Analysts expected to see earnings of 56 cents per share.
KLAC reported revenue of $673.0 million up from $642.5 million last year. Analysts expected to see revenue of $634.9 million.
The company benefited from sales of tablets and smartphones, which drove up revenue for the quarter. However, the increased sales were offset by increased costs.
KLA-Tencor shares were up $1.06, or 2.04% during premarket trading Friday. The stock has been mostly flat in the past year.
The Bottom Line
Shares of KLA-Tencor (KLAC) have a 3.08% dividend yield, based on last night’s closing stock price of $51.97. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $54-$55 price levels.
KLA-Tencor Corporation(KLAC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.