KLA-Tencor Corp. (KLAC) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) have earned an average rating of “Buy” from the fourteen ratings firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $81.53.
A number of research analysts have recently issued reports on KLAC shares. Credit Suisse Group AG reiterated a “focus list” rating and issued a $85.00 price target on shares of KLA-Tencor Corp. in a report on Monday, October 3rd. Zacks Investment Research upgraded KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, September 28th. Cowen and Company upgraded KLA-Tencor Corp. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $79.00 to $80.00 in a report on Monday, August 29th. They noted that the move was a valuation call. Vetr upgraded KLA-Tencor Corp. from a “buy” rating to a “strong-buy” rating and set a $83.21 price target on the stock in a report on Tuesday, November 1st. Finally, Summit Redstone downgraded KLA-Tencor Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 27th.
KLA-Tencor Corp. (NASDAQ:KLAC) opened at 81.68 on Friday. KLA-Tencor Corp. has a 12-month low of $62.33 and a 12-month high of $83.23. The company has a market cap of $12.77 billion, a P/E ratio of 16.45 and a beta of 1.60. The firm has a 50-day moving average price of $75.63 and a 200-day moving average price of $72.88.
KLA-Tencor Corp. (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, October 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.13. KLA-Tencor Corp. had a return on equity of 138.28% and a net margin of 25.15%. The business had revenue of $751 million for the quarter, compared to the consensus estimate of $735.01 million. During the same period last year, the business posted $0.71 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. On average, analysts forecast that KLA-Tencor Corp. will post $5.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, November 10th. This is a boost from KLA-Tencor Corp.’s previous quarterly dividend of $0.52. KLA-Tencor Corp.’s payout ratio is 43.55%.
In other news, CFO Bren D. Higgins sold 4,812 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $74.94, for a total value of $360,611.28. Following the completion of the transaction, the chief financial officer now owns 4,610 shares of the company’s stock, valued at approximately $345,473.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ahmad A. Khan sold 10,775 shares of the business’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $74.82, for a total value of $806,185.50. Following the completion of the transaction, the executive vice president now directly owns 17,173 shares of the company’s stock, valued at approximately $1,284,883.86. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. APG Asset Management N.V. boosted its position in KLA-Tencor Corp. by 15.3% in the third quarter. APG Asset Management N.V. now owns 271,305 shares of the company’s stock worth $18,913,000 after buying an additional 36,038 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in KLA-Tencor Corp. during the second quarter worth $10,987,000. Adage Capital Partners GP L.L.C. boosted its position in KLA-Tencor Corp. by 9.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,240,252 shares of the company’s stock worth $90,848,000 after buying an additional 103,300 shares during the last quarter. OLD National Bancorp IN boosted its position in KLA-Tencor Corp. by 32.4% in the second quarter. OLD National Bancorp IN now owns 15,283 shares of the company’s stock worth $1,120,000 after buying an additional 3,739 shares during the last quarter. Finally, First New York Securities LLC NY boosted its position in KLA-Tencor Corp. by 51.2% in the second quarter. First New York Securities LLC NY now owns 1,400 shares of the company’s stock worth $103,000 after buying an additional 474 shares during the last quarter. 87.12% of the stock is owned by institutional investors and hedge funds.
KLA-Tencor Corp. Company Profile
KLA-Tencor Corporation 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 various other industries, including the light emitting diode (LED) and data storage industries, as well as general materials research.
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