KLA-Tencor (NASDAQ:KLAC), a leading semiconductor equipment manufacturer, boosted the Fund’s return by 90 basis points, as its stock rose 33.5% from $78.68 to $105.07. The stock climbed higher as healthy demand for the company’s wafer inspection tools drove better-than-expected earnings results.
From Jerome Dodson (Trades, Portfolio)'s fourth-quarter 2017 Parnassus Fund shareholder letter.
