KLA-Tencor (KLAC) Price Target Increased to $123.00 by Analysts at B. Riley

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KLA-Tencor (NASDAQ:KLAC) had its target price increased by research analysts at B. Riley from $120.00 to $123.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price objective points to a potential upside of 35.37% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Cowen set a $120.00 price target on KLA-Tencor and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded KLA-Tencor from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub downgraded KLA-Tencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Citigroup decreased their price target on KLA-Tencor from $128.00 to $121.00 and set a “buy” rating for the company in a research note on Tuesday, September 25th. Finally, ValuEngine downgraded KLA-Tencor from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $132.31.

KLAC stock traded up $5.73 during mid-day trading on Tuesday, reaching $90.86. The company had a trading volume of 669,370 shares, compared to its average volume of 1,895,286. The company has a quick ratio of 2.97, a current ratio of 3.73 and a debt-to-equity ratio of 1.38. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.25 and a beta of 1.57. KLA-Tencor has a 52 week low of $84.59 and a 52 week high of $123.96.

KLA-Tencor (NASDAQ:KLAC) last posted its quarterly earnings results on Monday, October 29th. The semiconductor company reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.25. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. KLA-Tencor had a return on equity of 88.65% and a net margin of 19.87%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. On average, equities research analysts anticipate that KLA-Tencor will post 9.06 EPS for the current fiscal year.

In other news, CFO Bren D. Higgins sold 1,418 shares of KLA-Tencor stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $106.64, for a total transaction of $151,215.52. Following the completion of the transaction, the chief financial officer now directly owns 1,669 shares in the company, valued at approximately $177,982.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Virendra A. Kirloskar sold 1,537 shares of KLA-Tencor stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $118.87, for a total value of $182,703.19. The disclosure for this sale can be found here. Insiders have sold a total of 51,880 shares of company stock valued at $6,075,839 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in KLA-Tencor by 1.1% during the 2nd quarter. BlackRock Inc. now owns 11,347,610 shares of the semiconductor company’s stock worth $1,163,470,000 after purchasing an additional 118,632 shares during the last quarter. Boston Partners lifted its holdings in KLA-Tencor by 1.4% during the 2nd quarter. Boston Partners now owns 2,092,922 shares of the semiconductor company’s stock worth $214,588,000 after purchasing an additional 29,020 shares during the last quarter. Bank of America Corp DE lifted its holdings in KLA-Tencor by 21.1% during the 2nd quarter. Bank of America Corp DE now owns 1,184,086 shares of the semiconductor company’s stock worth $121,405,000 after purchasing an additional 206,616 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in KLA-Tencor by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,007,292 shares of the semiconductor company’s stock worth $103,278,000 after purchasing an additional 27,073 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in KLA-Tencor by 63.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,005,470 shares of the semiconductor company’s stock worth $102,367,000 after purchasing an additional 388,591 shares during the last quarter. Institutional investors own 91.96% of the company’s stock.

About KLA-Tencor

KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)

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