Credit Suisse Group AG Reaffirms Focus List Rating for KLA-Tencor Corp. (KLAC)
KLA-Tencor Corp. (NASDAQ:KLAC)‘s stock had its “focus list” rating reaffirmed by Credit Suisse Group AG in a report released on Monday.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, September 28th. Cowen and Company raised shares of KLA-Tencor Corp. from a “market perform” rating to an “outperform” rating and boosted 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. JPMorgan Chase & Co. reissued a “buy” rating on shares of KLA-Tencor Corp. in a report on Wednesday, August 17th. Susquehanna reissued a “neutral” rating on shares of KLA-Tencor Corp. in a report on Saturday, August 13th. Finally, B. Riley reissued a “neutral” rating and issued a $78.00 price target on shares of KLA-Tencor Corp. in a report on Tuesday, August 2nd. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.46.
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) opened at 69.71 on Monday. The company has a 50-day moving average of $69.43 and a 200 day moving average of $71.78. The company has a market capitalization of $10.87 billion, a P/E ratio of 15.53 and a beta of 1.75. KLA-Tencor Corp. has a 12 month low of $50.53 and a 12 month high of $77.85.
KLA-Tencor Corp. (NASDAQ:KLAC) last released its earnings results on Thursday, July 28th. The company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.35. The firm earned $919.17 million during the quarter, compared to analysts’ expectations of $842.10 million. KLA-Tencor Corp. had a net margin of 23.60% and a return on equity of 159.94%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. Analysts forecast that KLA-Tencor Corp. will post $4.88 EPS for the current year.
In other KLA-Tencor Corp. news, CFO Bren D. Higgins sold 363 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $72.23, for a total transaction of $26,219.49. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLAC. Renaissance Technologies LLC increased its position in KLA-Tencor Corp. by 470.3% in the first quarter. Renaissance Technologies LLC now owns 577,584 shares of the company’s stock worth $42,054,000 after buying an additional 476,300 shares during the last quarter. Geode Capital Management LLC increased its position in KLA-Tencor Corp. by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,302,094 shares of the company’s stock worth $94,619,000 after buying an additional 26,126 shares during the last quarter. Legal & General Group Plc increased its position in KLA-Tencor Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 707,256 shares of the company’s stock worth $51,493,000 after buying an additional 2,945 shares during the last quarter. OLD National Bancorp IN increased 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 increased 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. Institutional investors own 85.80% of the company’s stock.
About KLA-Tencor Corp.
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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