KLA-Tencor Corp. (KLAC) Upgraded at Needham & Company LLC
KLA-Tencor Corp. (NASDAQ:KLAC) was upgraded by investment analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $84.00 price target on the stock, up from their prior price target of $71.79. Needham & Company LLC’s price objective would indicate a potential upside of 17.01% from the company’s current price.
Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of KLA-Tencor Corp. in a research report on Wednesday, August 17th. Zacks Investment Research raised KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, September 28th. Berenberg Bank raised KLA-Tencor Corp. from a “hold” rating to a “buy” rating in a research report on Thursday. B. Riley raised KLA-Tencor Corp. from a “neutral” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday. Finally, Credit Suisse Group AG reissued a “focus list” rating and issued a $85.00 target price on shares of KLA-Tencor Corp. in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. KLA-Tencor Corp. currently has an average rating of “Buy” and a consensus target price of $76.21.
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) traded up 0.43% on Friday, reaching $72.10. The company had a trading volume of 3,108,046 shares. KLA-Tencor Corp. has a 52-week low of $51.16 and a 52-week high of $77.85. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 16.06 and a beta of 1.75. The company’s 50-day moving average price is $69.64 and its 200-day moving average price is $71.80.
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KLA-Tencor Corp. (NASDAQ:KLAC) last announced its earnings results on Thursday, July 28th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.35. KLA-Tencor Corp. had a return on equity of 159.94% and a net margin of 23.60%. The business had revenue of $919.17 million for the quarter, compared to analyst estimates of $842.10 million. During the same quarter last year, the firm earned $0.99 EPS. KLA-Tencor Corp.’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts predict that KLA-Tencor Corp. will post $4.92 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of KLAC. Coastland Capital LLC acquired a new position in KLA-Tencor Corp. during the first quarter worth $24,573,000. Renaissance Technologies LLC increased its stake in KLA-Tencor Corp. by 470.3% in the first quarter. Renaissance Technologies LLC now owns 577,584 shares of the company’s stock valued at $42,054,000 after buying an additional 476,300 shares during the period. Glazer Capital LLC purchased a new stake in KLA-Tencor Corp. during the first quarter valued at about $6,043,000. Geode Capital Management LLC increased its stake in KLA-Tencor Corp. by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,302,094 shares of the company’s stock valued at $94,619,000 after buying an additional 26,126 shares during the period. Finally, AXA increased its stake in KLA-Tencor Corp. by 12.8% in the first quarter. AXA now owns 84,600 shares of the company’s stock valued at $6,160,000 after buying an additional 9,600 shares during the period. 85.80% of the stock is currently owned by institutional investors and hedge funds.
About KLA-Tencor Corp.
KLA-Tencor Corporation is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The Company’s products are also used in various other industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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