KLA-Tencor (NASDAQ:KLAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $122.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.06% from the stock’s current price.

According to Zacks, “KLA 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 the company’s new bare wafer products. KLA’s cost reduction initiatives and strong balance sheet are positives amid cyclical pressures. Though the stiff competition and concentrated customer base increases execution risk, the rising process control spending across foundry, memory and logic players through 2017 and beyond will enable KLA to deliver stronger results. However, the stock has underperformed the industry it belongs to on a year-to-date basis.”

KLAC has been the subject of a number of other reports. B. Riley reaffirmed a “buy” rating and issued a $129.00 price target (up from $120.00) on shares of KLA-Tencor in a report on Friday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $136.00 price target on shares of KLA-Tencor in a report on Friday, October 27th. Citigroup upped their price target on KLA-Tencor from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of KLA-Tencor in a report on Thursday, October 19th. Finally, Stifel Nicolaus upped their price target on KLA-Tencor from $106.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $110.32.

Shares of KLA-Tencor (KLAC) traded down $0.69 during trading on Wednesday, hitting $106.96. The stock had a trading volume of 477,755 shares, compared to its average volume of 1,263,952. KLA-Tencor has a 1-year low of $77.86 and a 1-year high of $114.43. The firm has a market capitalization of $17,131.31, a P/E ratio of 16.38 and a beta of 1.63. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.59 and a current ratio of 3.11.

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

In other KLA-Tencor news, insider Bobby R. Bell sold 4,236 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $105.51, for a total value of $446,940.36. Following the completion of the transaction, the insider now owns 8,908 shares in the company, valued at $939,883.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Virendra A. Kirloskar sold 600 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $101.52, for a total value of $60,912.00. The disclosure for this sale can be found here. Insiders have sold 34,400 shares of company stock valued at $3,585,084 in the last 90 days. Company insiders own 0.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of KLA-Tencor by 300.0% during the 3rd 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. Sun Life Financial INC raised its holdings in shares of KLA-Tencor by 14,300.0% during the 2nd 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. Bristlecone Advisors LLC purchased a new stake in shares of KLA-Tencor during the 3rd quarter valued at about $148,000. Edge Advisors LLC raised its holdings in shares of KLA-Tencor by 77.8% during the 3rd 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. Finally, Highbridge Capital Management LLC purchased a new stake in shares of KLA-Tencor during the 3rd quarter valued at about $212,000. 90.63% of the stock is currently owned by institutional investors.

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About KLA-Tencor

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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