KLA-Tencor Corporation (KLAC) Upgraded by Stifel Nicolaus to “Buy”
KLA-Tencor Corporation (NASDAQ:KLAC) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Sunday, Marketbeat.com reports. The brokerage currently has a $106.00 price target on the semiconductor company’s stock, up from their previous price target of $103.00. Stifel Nicolaus’ target price points to a potential upside of 19.33% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages have also recently issued reports on KLAC. Susquehanna Bancshares Inc reaffirmed a “negative” rating on shares of KLA-Tencor Corporation in a research note on Monday, April 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $115.00 price objective (up from $96.00) on shares of KLA-Tencor Corporation in a research note on Friday, April 28th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of KLA-Tencor Corporation in a research note on Friday, April 28th. Needham & Company LLC raised their price objective on shares of KLA-Tencor Corporation from $105.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Friday, April 28th. Finally, BidaskClub cut shares of KLA-Tencor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $98.86.
KLA-Tencor Corporation (NASDAQ:KLAC) opened at 88.83 on Friday. The company has a market cap of $13.92 billion, a PE ratio of 15.11 and a beta of 1.62. KLA-Tencor Corporation has a 12-month low of $66.88 and a 12-month high of $109.59. The firm has a 50 day moving average price of $97.02 and a 200 day moving average price of $95.42.
KLA-Tencor Corporation (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 88.61%. The business had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $923.80 million. During the same period in the prior year, the firm earned $1.77 earnings per share. KLA-Tencor Corporation’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that KLA-Tencor Corporation will post $6.70 earnings per share for the current fiscal year.
In other news, SVP Brian Lorig sold 1,663 shares of KLA-Tencor Corporation stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $99.81, for a total transaction of $165,984.03. Following the transaction, the senior vice president now directly owns 1,346 shares of the company’s stock, valued at $134,344.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bobby R. Bell sold 5,695 shares of KLA-Tencor Corporation stock in a transaction on Monday, June 12th. The stock was sold at an average price of $100.54, for a total transaction of $572,575.30. Following the transaction, the insider now directly owns 1 shares in the company, valued at $100.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,272 shares of company stock worth $1,097,537. Insiders own 0.26% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Grove Bank & Trust boosted its position in shares of KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock worth $114,000 after buying an additional 290 shares in the last quarter. Cohen Capital Management Inc. purchased a new position in shares of KLA-Tencor Corporation during the first quarter worth $119,000. Ledyard National Bank purchased a new position in shares of KLA-Tencor Corporation during the first quarter worth $135,000. Trust Co. of Vermont boosted its position in shares of KLA-Tencor Corporation by 3.2% in the first quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock worth $138,000 after buying an additional 45 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of KLA-Tencor Corporation by 82.4% in the first quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock worth $195,000 after buying an additional 928 shares in the last quarter. 91.96% of the stock is currently owned by institutional investors.
About KLA-Tencor Corporation
KLA-Tencor Corporation (KLA-Tencor) 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 a number of other high technology industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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