KLA-Tencor Corp. (KLAC) Upgraded at B. Riley
KLA-Tencor Corp. (NASDAQ:KLAC) was upgraded by equities research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $86.00 price target on the stock, up from their prior price target of $78.00. B. Riley’s price target would indicate a potential upside of 18.34% from the company’s current price.
KLAC has been the topic of a number of other reports. Credit Suisse Group AG reissued a “hold” rating and issued a $82.00 price objective on shares of KLA-Tencor Corp. in a research note on Friday, July 29th. Cowen and Company lifted their price objective on shares of KLA-Tencor Corp. from $70.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Pacific Crest reissued a “hold” rating on shares of KLA-Tencor Corp. in a research note on Friday, July 29th. Deutsche Bank AG lifted their price objective on shares of KLA-Tencor Corp. from $72.00 to $78.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of KLA-Tencor Corp. from $79.50 to $84.50 and gave the company an “overweight” rating in a research note on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $76.21.
KLA-Tencor Corp. (NASDAQ:KLAC) traded up 1.23% on Thursday, reaching $72.67. The company’s stock had a trading volume of 7,733,661 shares. The firm has a market cap of $11.34 billion, a P/E ratio of 16.18 and a beta of 1.75. KLA-Tencor Corp. has a 12 month low of $51.16 and a 12 month high of $77.85. The firm’s 50 day moving average is $69.72 and its 200-day moving average is $71.81.
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KLA-Tencor Corp. (NASDAQ:KLAC) last announced its earnings results on Thursday, July 28th. The company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.35. KLA-Tencor Corp. had a net margin of 23.60% and a return on equity of 159.94%. The company had revenue of $919.17 million for the quarter, compared to analysts’ expectations of $842.10 million. During the same period last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities research analysts anticipate that KLA-Tencor Corp. will post $4.92 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC purchased a new position in KLA-Tencor Corp. during the fourth quarter valued at about $222,093,000. Morgan Stanley raised its position in KLA-Tencor Corp. by 1,838.0% in the fourth quarter. Morgan Stanley now owns 3,287,298 shares of the company’s stock valued at $227,974,000 after buying an additional 3,117,674 shares during the last quarter. JPMorgan Chase & Co. raised its position in KLA-Tencor Corp. by 23.7% in the second quarter. JPMorgan Chase & Co. now owns 13,524,187 shares of the company’s stock valued at $990,649,000 after buying an additional 2,592,262 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in KLA-Tencor Corp. during the fourth quarter valued at about $99,177,000. Finally, Norges Bank purchased a new position in KLA-Tencor Corp. during the fourth quarter valued at about $94,322,000. Institutional investors and hedge funds own 85.80% of the company’s stock.
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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