Needham & Company LLC Boosts KLA-Tencor (KLAC) Price Target to $135.00

KLA-Tencor (NASDAQ:KLAC) had its price target hoisted by equities researchers at Needham & Company LLC from $130.00 to $135.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 19.01% from the stock’s previous close.

A number of other brokerages also recently issued reports on KLAC. Stifel Nicolaus lifted their price target on KLA-Tencor from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. B. Riley reaffirmed a “buy” rating and set a $129.00 price target (up from $120.00) on shares of KLA-Tencor in a report on Friday, October 27th. BidaskClub downgraded KLA-Tencor from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $136.00 price target on shares of KLA-Tencor in a report on Friday, October 27th. Finally, Argus began coverage on KLA-Tencor in a report on Wednesday, November 29th. They issued a “buy” rating and a $125.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $114.70.

Shares of KLA-Tencor (NASDAQ KLAC) traded up $0.35 during midday trading on Friday, reaching $113.44. The company’s stock had a trading volume of 2,314,453 shares, compared to its average volume of 1,474,658. The stock has a market cap of $17,730.00, a P/E ratio of 27.33 and a beta of 1.63. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.11 and a quick ratio of 2.59. KLA-Tencor has a 12 month low of $84.57 and a 12 month high of $121.65.

KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.24. The company had revenue of $975.82 million during the quarter, compared to the consensus estimate of $968.00 million. KLA-Tencor had a return on equity of 84.61% and a net margin of 27.82%. KLA-Tencor’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. equities analysts anticipate that KLA-Tencor will post 7.27 earnings per share for the current year.

In other KLA-Tencor news, Director Emiko Higashi sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $101.26, for a total transaction of $50,630.00. Following the completion of the sale, the director now directly owns 15,229 shares of the company’s stock, valued at approximately $1,542,088.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward W. Barnholt sold 10,914 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $104.90, for a total value of $1,144,878.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,039 shares of company stock valued at $3,464,189. 0.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Adviser Investments LLC raised its stake in KLA-Tencor by 39.8% during the 3rd quarter. Adviser Investments LLC now owns 38,524 shares of the semiconductor company’s stock valued at $4,084,000 after acquiring an additional 10,965 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in KLA-Tencor by 4,857.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 3,470 shares of the semiconductor company’s stock valued at $367,000 after acquiring an additional 3,400 shares during the last quarter. Korea Investment CORP raised its stake in KLA-Tencor by 21.5% during the 3rd quarter. Korea Investment CORP now owns 141,451 shares of the semiconductor company’s stock valued at $14,994,000 after acquiring an additional 25,000 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in KLA-Tencor by 7.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 33,885 shares of the semiconductor company’s stock valued at $3,592,000 after acquiring an additional 2,491 shares during the last quarter. Finally, Cypress Capital Group acquired a new position in KLA-Tencor during the 3rd quarter worth approximately $336,000. 90.66% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Needham & Company LLC Boosts KLA-Tencor (KLAC) Price Target to $135.00” was reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/26/needham-company-llc-boosts-kla-tencor-klac-price-target-to-135-00.html.

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.

Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)