Pacific Crest Downgrades KLA-Tencor Corp. to Sector Perform (KLAC)
KLA-Tencor Corp. (NASDAQ:KLAC) was downgraded by Pacific Crest from an “outperform” rating to a “sector perform” rating in a research note issued on Tuesday, Analyst Ratings News reports.
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) opened at 68.81 on Tuesday. KLA-Tencor Corp. has a 52 week low of $50.23 and a 52 week high of $71.93. The stock has a 50-day moving average of $67.32 and a 200-day moving average of $63.92. The company has a market cap of $11.462 billion and a price-to-earnings ratio of 21.22.
KLA-Tencor Corp. (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $705.00 million for the quarter, compared to the consensus estimate of $705.06 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that KLA-Tencor Corp. will post $3.79 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on KLAC. Analysts at Nomura initiated coverage on shares of KLA-Tencor Corp. in a research note on Thursday, March 20th. They set a “neutral” rating and a $75.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of KLA-Tencor Corp. in a research note on Friday, February 28th. They now have a $68.00 price target on the stock. Finally, analysts at RBC Capital downgraded shares of KLA-Tencor Corp. from an “outperform” rating to a “sector perform” rating in a research note on Monday, February 3rd. They now have a $65.00 price target on the stock, down previously from $68.00. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. KLA-Tencor Corp. presently has an average rating of “Buy” and a consensus target price of $65.79.
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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