BidaskClub Downgrades KLA-Tencor Corporation (KLAC) to Buy
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.
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%.
COPYRIGHT VIOLATION WARNING: This article was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/06/20/bidaskclub-downgrades-kla-tencor-corporation-klac-to-buy.html.
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.
Receive News & Ratings for KLA-Tencor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA-Tencor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.