KLA-Tencor Corporation (NASDAQ:KLAC) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other brokerages have also issued reports on KLAC. Cowen and Company increased their target price on shares of KLA-Tencor Corporation from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, June 2nd. B. Riley reiterated a “buy” rating and set a $115.00 price target on shares of KLA-Tencor Corporation in a research report on Friday, April 28th. Needham & Company LLC increased their price target on shares of KLA-Tencor Corporation from $105.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 28th. Credit Suisse Group reiterated an “outperform” rating and set a $100.00 price target on shares of KLA-Tencor Corporation in a research report on Friday, April 28th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $100.00 price target (up previously from $85.00) on shares of KLA-Tencor Corporation in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.83.

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

KLA-Tencor Corporation (NASDAQ KLAC) opened at 101.02 on Friday. The firm’s 50-day moving average is $102.18 and its 200-day moving average is $91.62. The company has a market cap of $15.84 billion, a PE ratio of 16.87 and a beta of 1.61. KLA-Tencor Corporation has a 52 week low of $66.88 and a 52 week high of $109.59.

KLA-Tencor Corporation (NASDAQ:KLAC) last announced its earnings results on Thursday, April 27th. The semiconductor company reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.08. KLA-Tencor Corporation had a net margin of 27.20% and a return on equity of 106.36%. The firm had revenue of $914 million for the quarter, compared to analyst estimates of $895.69 million. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue was up 28.4% compared to the same quarter last year. On average, analysts expect that KLA-Tencor Corporation will post $5.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, May 11th. KLA-Tencor Corporation’s payout ratio is 36.06%.

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In related news, Director Kevin Kennedy sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $99.09, for a total value of $247,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Lorig sold 1,663 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $99.81, for a total transaction of $165,984.03. Following the completion of the transaction, the senior vice president now directly owns 1,346 shares of the company’s stock, valued at approximately $134,344.26. The disclosure for this sale can be found here. In the last three months, insiders sold 9,858 shares of company stock valued at $986,284. 0.26% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of KLAC. BlackRock Inc. increased its position in shares of KLA-Tencor Corporation by 1,865.4% in the first quarter. BlackRock Inc. now owns 11,140,657 shares of the semiconductor company’s stock valued at $1,059,142,000 after buying an additional 10,573,812 shares during the last quarter. FMR LLC increased its position in shares of KLA-Tencor Corporation by 162.0% in the first quarter. FMR LLC now owns 5,166,949 shares of the semiconductor company’s stock valued at $491,222,000 after buying an additional 3,194,775 shares during the last quarter. Norges Bank bought a new position in shares of KLA-Tencor Corporation during the fourth quarter valued at approximately $88,590,000. AQR Capital Management LLC increased its position in shares of KLA-Tencor Corporation by 8,519.9% in the fourth quarter. AQR Capital Management LLC now owns 1,078,003 shares of the semiconductor company’s stock valued at $84,817,000 after buying an additional 1,065,497 shares during the last quarter. Finally, Janus Capital Management LLC increased its position in shares of KLA-Tencor Corporation by 47.9% in the fourth quarter. Janus Capital Management LLC now owns 2,914,286 shares of the semiconductor company’s stock valued at $229,296,000 after buying an additional 944,286 shares during the last quarter. 91.93% of the stock is owned by institutional investors and hedge funds.

About KLA-Tencor Corporation

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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