KLA-Tencor (NASDAQ:KLAC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “KLA’s offers a complete yield management solutions which includes hardware, software and services. The addittion of new capacity by Wafer manufacturers and adoption of more complex architectures by IC customers are driving demand for KLA’s new bare wafer products. The fiscal first-quarter earnings of the company were above the Zacks Consensus Estimate. However, year to date, the stock has underperformed the industry it belongs to. KLA’s cost reduction initiatives and strong balance sheet remain positives that will generate growth whenever cyclical pressures permit. Though the competition and concentrated customer base increases execution risk, the increasing process control spending across foundry, memory and logic players through 2017 and beyond will enable KLA to deliver stronger results.”

A number of other research analysts have also commented on KLAC. Argus began coverage on shares of KLA-Tencor in a research note on Wednesday, November 29th. They issued a “buy” rating and a $125.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of KLA-Tencor from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Citigroup boosted their price target on shares of KLA-Tencor from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. J P Morgan Chase & Co reiterated a “buy” rating and set a $136.00 price target on shares of KLA-Tencor in a research note on Friday, October 27th. Finally, KeyCorp reiterated a “hold” rating on shares of KLA-Tencor in a research note on Sunday, October 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $108.68.

KLA-Tencor (NASDAQ:KLAC) traded down $0.13 during midday trading on Tuesday, reaching $103.85. 1,114,000 shares of the company’s stock were exchanged, compared to its average volume of 1,263,895. The company has a current ratio of 3.11, a quick ratio of 2.59 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $16,294.49, a price-to-earnings ratio of 15.80, a PEG ratio of 0.67 and a beta of 1.63. KLA-Tencor has a one year low of $76.56 and a one year high of $110.00.

KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.17. The company had revenue of $970.00 million for the quarter, compared to analyst estimates of $946.86 million. KLA-Tencor had a net margin of 27.82% and a return on equity of 84.61%. KLA-Tencor’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. research analysts anticipate that KLA-Tencor will post 7.31 EPS for the current year.

In other KLA-Tencor news, Director Emiko Higashi sold 500 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $101.26, for a total value of $50,630.00. Following the sale, the director now owns 15,229 shares of the company’s stock, valued at $1,542,088.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 3,599 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $101.52, for a total transaction of $365,370.48. The disclosure for this sale can be found here. Insiders have sold 34,400 shares of company stock worth $3,585,084 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sun Life Financial INC lifted its stake in shares of KLA-Tencor by 14,300.0% during the second quarter. Sun Life Financial INC now owns 1,152 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 1,144 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of KLA-Tencor by 300.0% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,000 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 750 shares during the period. Bristlecone Advisors LLC purchased a new position in shares of KLA-Tencor during the third quarter valued at approximately $148,000. Checchi Capital Advisers LLC lifted its stake in shares of KLA-Tencor by 2.0% during the second quarter. Checchi Capital Advisers LLC now owns 2,205 shares of the semiconductor company’s stock valued at $202,000 after buying an additional 44 shares during the period. Finally, Edge Advisors LLC lifted its stake in shares of KLA-Tencor by 77.8% during the third quarter. Edge Advisors LLC now owns 1,993 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 872 shares during the period. 90.88% of the stock is currently owned by institutional investors.

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KLA-Tencor Company Profile

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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Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)

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