KLA-Tencor Sees Unusually-High Trading Volume After Analyst Upgrade (KLAC)
KLA-Tencor (NASDAQ:KLAC) saw unusually-high trading volume on Tuesday after Cowen and Company raised their price target on the stock from $67.00 to $74.00, Analyst Ratings News reports. Cowen and Company currently has a market perform rating on the stock. Approximately 3,651,123 shares changed hands during trading, an increase of 101% from the previous session’s volume of 1,815,395 shares.The stock last traded at $73.91 and had previously closed at $74.03.
KLAC has been the subject of a number of other recent research reports. Analysts at B. Riley upgraded shares of KLA-Tencor from a “neutral” rating to a “buy” rating in a research note on Monday, June 30th. They now have a $82.00 price target on the stock, up previously from $70.00. They noted that the move was a valuation call. Separately, 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, June 27th. They now have a “buy” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $72.00.
The stock has a 50-day moving average of $68.11 and a 200-day moving average of $65.70. The company has a market cap of $12.286 billion and a P/E ratio of 21.15. KLA-Tencor also saw some unusual options trading on Monday. Stock investors purchased 7,983 call options on the company. This is an increase of 735% compared to the typical volume of 956 call options.
KLA-Tencor (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts predict that KLA-Tencor will post $3.63 earnings per share 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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