KLA-Tencor Corporation (NASDAQ:KLAC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, July 25th.
A number of other equities research analysts also recently weighed in on KLAC. UBS AG reiterated a “neutral” rating and issued a $110.00 price target on shares of KLA-Tencor Corporation in a report on Tuesday, June 13th. B. Riley reiterated a “buy” rating and issued a $115.00 price target on shares of KLA-Tencor Corporation in a report on Wednesday, May 3rd. Stifel Nicolaus restated a “hold” rating and set a $102.00 price objective (up from $92.00) on shares of KLA-Tencor Corporation in a research note on Monday, June 19th. Deutsche Bank AG restated a “hold” rating and set a $100.00 price objective (up from $85.00) on shares of KLA-Tencor Corporation in a research note on Saturday, April 29th. Finally, Needham & Company LLC upped their price objective on KLA-Tencor Corporation from $105.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 28th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $98.86.
Shares of KLA-Tencor Corporation (NASDAQ KLAC) traded up 3.19% during trading on Tuesday, reaching $90.34. 1,069,552 shares of the company’s stock traded hands. KLA-Tencor Corporation has a 1-year low of $66.89 and a 1-year high of $109.59. The stock has a market capitalization of $14.17 billion, a PE ratio of 15.36 and a beta of 1.62. The company has a 50 day moving average price of $95.09 and a 200 day moving average price of $95.62.
KLA-Tencor Corporation (NASDAQ:KLAC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $923.80 million. During the same period in the prior year, the company posted $1.77 EPS. KLA-Tencor Corporation’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that KLA-Tencor Corporation will post $6.70 EPS for the current fiscal year.
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In other KLA-Tencor Corporation news, CFO Bren D. Higgins sold 314 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total value of $29,154.90. Following the transaction, the chief financial officer now directly owns 314 shares of the company’s stock, valued at approximately $29,154.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Virendra A. Kirloskar sold 6,307 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $89.15, for a total value of $562,269.05. Following the transaction, the senior vice president now directly owns 2,022 shares in the company, valued at approximately $180,261.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,615 shares of company stock worth $3,525,173. Insiders own 0.26% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd raised its position in shares of KLA-Tencor Corporation by 3.3% in the first quarter. Gulf International Bank UK Ltd now owns 50,491 shares of the semiconductor company’s stock worth $4,800,000 after buying an additional 1,600 shares in the last quarter. Creative Planning raised its position in shares of KLA-Tencor Corporation by 29.4% in the first quarter. Creative Planning now owns 4,380 shares of the semiconductor company’s stock worth $416,000 after buying an additional 996 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of KLA-Tencor Corporation during the first quarter worth approximately $209,000. Contravisory Investment Management Inc. bought a new position in shares of KLA-Tencor Corporation during the first quarter worth approximately $270,000. Finally, Hefty Wealth Partners bought a new position in shares of KLA-Tencor Corporation during the first quarter worth approximately $890,000. 91.96% of the stock is currently owned by institutional investors and hedge funds.
KLA-Tencor Corporation 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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