KLA-Tencor Corporation (KLAC) Stock Rating Reaffirmed by Needham & Company LLC

KLA-Tencor Corporation (NASDAQ:KLAC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday. They presently have a $120.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 11.06% from the stock’s previous close.

Several other brokerages also recently weighed in on KLAC. KeyCorp reaffirmed a “hold” rating on shares of KLA-Tencor Corporation in a report on Sunday. Zacks Investment Research raised shares of KLA-Tencor Corporation from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a report on Monday. BidaskClub downgraded shares of KLA-Tencor Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. B. Riley reissued a “buy” rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of KLA-Tencor Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $108.00 to $97.00 in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $101.32.

KLA-Tencor Corporation (NASDAQ:KLAC) traded down 0.04% during mid-day trading on Thursday, reaching $108.05. 708,483 shares of the company’s stock traded hands. The stock has a 50 day moving average of $100.70 and a 200 day moving average of $98.31. The company has a market cap of $16.95 billion, a P/E ratio of 18.38 and a beta of 1.68. KLA-Tencor Corporation has a 12-month low of $71.11 and a 12-month high of $109.59.

KLA-Tencor Corporation (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the 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 the consensus estimate of $923.80 million. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that KLA-Tencor Corporation will post $6.75 earnings per share for the current fiscal year.

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In other KLA-Tencor Corporation news, insider Bobby R. Bell sold 4,236 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $105.51, for a total transaction of $446,940.36. Following 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 6,307 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.15, for a total transaction of $562,269.05. Following the transaction, the senior vice president now owns 2,022 shares in the company, valued at approximately $180,261.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,512 shares of company stock worth $7,726,826. 0.20% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of KLAC. Sun Life Financial INC increased its position in KLA-Tencor Corporation 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 acquiring an additional 1,144 shares during the last quarter. Grove Bank & Trust increased its position in KLA-Tencor Corporation by 30.2% during the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Invictus RG bought a new position in KLA-Tencor Corporation during the first quarter valued at $202,000. Checchi Capital Advisers LLC increased its position in KLA-Tencor Corporation 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 acquiring an additional 44 shares during the last quarter. Finally, IBM Retirement Fund increased its position in KLA-Tencor Corporation by 33.6% during the second quarter. IBM Retirement Fund now owns 2,322 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 584 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.

Analyst Recommendations for KLA-Tencor Corporation (NASDAQ:KLAC)

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