Cowen and Company Reiterates “Outperform” Rating for KLA-Tencor Corp. (KLAC)
KLA-Tencor Corp. (NASDAQ:KLAC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Cowen and Company in a research note issued on Wednesday. They presently have a $80.00 price objective on the stock. Cowen and Company’s price objective indicates a potential upside of 13.80% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of KLA-Tencor Corp. in a report on Wednesday, August 17th. Zacks Investment Research raised KLA-Tencor Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, September 28th. Credit Suisse Group AG reissued a “focus list” rating and issued a $85.00 target price on shares of KLA-Tencor Corp. in a report on Monday. Pacific Crest reissued a “hold” rating on shares of KLA-Tencor Corp. in a report on Friday, July 29th. Finally, Deutsche Bank AG increased their price target on KLA-Tencor Corp. from $72.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.46.
KLA-Tencor Corp. (NASDAQ:KLAC) traded up 0.65% during mid-day trading on Wednesday, hitting $70.76. The stock had a trading volume of 569,905 shares. The firm has a market cap of $11.04 billion, a P/E ratio of 15.76 and a beta of 1.75. KLA-Tencor Corp. has a 1-year low of $51.16 and a 1-year high of $77.85. The stock has a 50 day moving average of $69.52 and a 200-day moving average of $71.80.
KLA-Tencor Corp. (NASDAQ:KLAC) last issued its earnings results on Thursday, July 28th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.35. KLA-Tencor Corp. had a return on equity of 159.94% and a net margin of 23.60%. The business earned $919.17 million during the quarter, compared to analysts’ expectations of $842.10 million. During the same period in the prior year, the firm posted $0.99 EPS. KLA-Tencor Corp.’s quarterly revenue was up 21.5% compared to the same quarter last year. Analysts predict that KLA-Tencor Corp. will post $4.88 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in shares of KLA-Tencor Corp. by 8.8% in the first quarter. Aperio Group LLC now owns 57,700 shares of the company’s stock valued at $4,201,000 after buying an additional 4,685 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of KLA-Tencor Corp. by 24.6% in the first quarter. Teachers Advisors Inc. now owns 180,023 shares of the company’s stock valued at $13,107,000 after buying an additional 35,574 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of KLA-Tencor Corp. during the first quarter valued at approximately $530,000. M&T Bank Corp increased its stake in shares of KLA-Tencor Corp. by 9.8% in the first quarter. M&T Bank Corp now owns 10,495 shares of the company’s stock valued at $764,000 after buying an additional 940 shares during the last quarter. Finally, Aviva PLC increased its stake in shares of KLA-Tencor Corp. by 1.2% in the first quarter. Aviva PLC now owns 78,674 shares of the company’s stock valued at $5,728,000 after buying an additional 969 shares during the last quarter. 85.80% of the stock is currently owned by institutional investors.
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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