KLA-Tencor Company announced the expansion of share buyback program by an additional 13 million shares. The company plans to complete the share buyback program for over 18 months. Cost of the program is estimated at around 1 billion repurchase price will be 74.03 dollars per share, which corresponds to the closing price on Monday.
In addition, the company raised its quarterly dividend by 11% to 50 cents per share. We recommend buying shares in case of a decrease below current levels and maintain a long-term positive outlook.