KLA-Tencor Hits New 12-Month High on Analyst Upgrade (KLAC)
KLA-Tencor (NASDAQ:KLAC) hit a new 52-week high on Monday after B. Riley upgraded the stock from a neutral rating to a buy rating, Analyst Ratings Net reports. B. Riley now has a $82.00 price target on the stock, up from their previous price target of $70.00. KLA-Tencor traded as high as $72.78 and last traded at $72.39, with a volume of 1,065,928 shares changing hands. The stock had previously closed at $70.97.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of KLA-Tencor from $70.00 to $80.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of KLA-Tencor in a research note on Wednesday, June 25th. They now have a $82.00 price target on the stock, up previously from $75.00. Finally, analysts at Zacks downgraded shares of KLA-Tencor from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 18th. They now have a $63.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.62.
The stock’s 50-day moving average is $66.48 and its 200-day moving average is $65.20. The company has a market cap of $12.016 billion and a price-to-earnings ratio of 20.28.
KLA-Tencor (NASDAQ:KLAC) last announced its earnings results on Thursday, April 24th. The company reported $1.23 EPS for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.11. The company had revenue of $832.00 million for the quarter, compared to the consensus estimate of $822.64 million. During the same quarter last year, the company posted $1.01 earnings per share. KLA-Tencor’s revenue was up 14.1% compared to the same quarter last year. Analysts expect that KLA-Tencor will post $3.62 EPS for the current fiscal year.
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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