Needham & Company Increases KLA-Tencor Corp. Price Target to $72.00 (KLAC)
Analysts at Needham & Company increased their price objective on shares of KLA-Tencor Corp. (NASDAQ:KLAC) from $65.00 to $72.00 in a research report issued to clients and investors on Friday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price objective points to a potential upside of 12.71% from the company’s current price.
In other KLA-Tencor Corp. news, EVP Michael Kirk unloaded 4,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $64.89, for a total value of $259,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
KLA-Tencor Corp. (NASDAQ:KLAC) opened at 63.88 on Friday. KLA-Tencor Corp. has a 52 week low of $43.21 and a 52 week high of $60.94. The stock’s 50-day moving average is $57.80 and its 200-day moving average is $55.72. The company has a market cap of $10.587 billion and a price-to-earnings ratio of 19.85.
KLA-Tencor Corp. (NASDAQ:KLAC) last released its earnings data on Thursday, October 24th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.02. The company had revenue of $658.30 million for the quarter, compared to the consensus estimate of $657.50 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that KLA-Tencor Corp. will post $3.91 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on KLAC. Analysts at Cowen and Company raised their price target on shares of KLA-Tencor Corp. from $59.00 to $62.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of KLA-Tencor Corp. in a research note to investors on Monday, October 14th. They set an “overweight” rating and a $76.00 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of KLA-Tencor Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. KLA-Tencor Corp. currently has a consensus rating of “Buy” and a consensus target price of $63.13.
KLA-Tencor Corporation (NASDAQ:KLAC) is engaged in the design, manufacture and marketing of process control and yield management solutions for the semiconductor and related nanoelectronics industries.
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