Zacks Investment Research upgraded shares of KLA-Tencor Corporation (NASDAQ:KLAC) from a hold rating to a strong-buy rating in a report published on Monday. They currently have $121.00 price objective on the semiconductor company’s stock.

According to Zacks, “KLA is one of the leading suppliers of inspection and metrology products and services. The fiscal fourth-quarter earnings of the company were above the Zacks Consensus Estimate. However, year to date, the stock has underperformed the Zacks characterized Semiconductor Equipment – Wafer Fabrication industry. KLA’s comprehensive product line, cost reduction initiatives and strong balance sheet remain positives that will generate growth whenever cyclical pressures permit. Though the competition and concentrated customer base increases execution risk, the increasing process control spending across foundry, memory and logic players through 2017 and beyond will enable KLA to deliver stronger results.”

Several other analysts also recently commented on the stock. Credit Suisse Group reissued an outperform rating on shares of KLA-Tencor Corporation in a research report on Thursday, August 31st. Goldman Sachs Group, Inc. (The) downgraded shares of KLA-Tencor Corporation from a buy rating to a neutral rating and cut their price objective for the company from $108.00 to $97.00 in a research report on Wednesday, September 13th. Cowen and Company reissued a buy rating and set a $120.00 price objective on shares of KLA-Tencor Corporation in a research report on Tuesday, July 11th. Needham & Company LLC reissued a buy rating and set a $120.00 price objective on shares of KLA-Tencor Corporation in a research report on Friday, September 1st. Finally, BidaskClub raised shares of KLA-Tencor Corporation from a hold rating to a buy rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $101.32.

KLA-Tencor Corporation (NASDAQ KLAC) opened at 108.05 on Monday. The stock has a market capitalization of $16.95 billion, a PE ratio of 18.38 and a beta of 1.68. KLA-Tencor Corporation has a 12-month low of $72.88 and a 12-month high of $109.59. The company’s 50-day moving average is $101.11 and its 200 day moving average is $98.38.

KLA-Tencor Corporation (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $938.60 million for the quarter, compared to the consensus estimate of $923.80 million. During the same period in the prior year, the firm posted $1.77 EPS. KLA-Tencor Corporation’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that KLA-Tencor Corporation will post $6.75 earnings per share for the current fiscal year.

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In related news, SVP Virendra A. Kirloskar sold 6,307 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $89.15, for a total value of $562,269.05. Following the transaction, the senior vice president now owns 2,022 shares of the company’s stock, valued at $180,261.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brian Lorig sold 526 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total transaction of $48,839.10. Following the completion of the transaction, the senior vice president now directly owns 1,092 shares in the company, valued at approximately $101,392.20. The disclosure for this sale can be found here. In the last three months, insiders sold 84,512 shares of company stock worth $7,726,826. 0.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of KLAC. Sun Life Financial INC boosted its holdings in shares of KLA-Tencor Corporation by 14,300.0% in the second quarter. Sun Life Financial INC now owns 1,152 shares of the semiconductor company’s stock worth $105,000 after buying an additional 1,144 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock worth $114,000 after buying an additional 290 shares during the last quarter. Invictus RG purchased a new position in shares of KLA-Tencor Corporation in the first quarter worth approximately $202,000. Checchi Capital Advisers LLC boosted its holdings in shares of KLA-Tencor Corporation by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 2,205 shares of the semiconductor company’s stock worth $202,000 after buying an additional 44 shares during the last quarter. Finally, IBM Retirement Fund boosted its holdings in shares of KLA-Tencor Corporation by 33.6% in the second quarter. IBM Retirement Fund now owns 2,322 shares of the semiconductor company’s stock worth $212,000 after buying an additional 584 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.

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

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