Needham & Company LLC upgraded shares of KLA-Tencor Corp. (NASDAQ:KLAC) from a hold rating to a buy rating in a research note released on Friday. They currently have $84.00 price target on the stock, up from their previous price target of $71.79.

A number of other research analysts have also weighed in on KLAC. JPMorgan Chase & Co. restated a buy rating on shares of KLA-Tencor Corp. in a research report on Wednesday, August 17th. Zacks Investment Research upgraded KLA-Tencor Corp. from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Wednesday, September 28th. B. Riley upgraded KLA-Tencor Corp. from a neutral rating to a buy rating and raised their price objective for the company from $78.00 to $86.00 in a research report on Thursday. Berenberg Bank upgraded KLA-Tencor Corp. from a hold rating to a buy rating in a research report on Thursday. Finally, Credit Suisse Group AG restated a focus list rating and set a $85.00 price objective on shares of KLA-Tencor Corp. in a research report on Monday, October 3rd. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. KLA-Tencor Corp. presently has an average rating of Buy and a consensus price target of $76.21.

Analyst Recommendations for KLA-Tencor Corp. (NASDAQ:KLAC)

Shares of KLA-Tencor Corp. (NASDAQ:KLAC) traded up 0.96% on Friday, reaching $73.37. The company had a trading volume of 1,682,926 shares. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 16.34 and a beta of 1.75. KLA-Tencor Corp. has a 52 week low of $51.16 and a 52 week high of $77.85. The stock’s 50 day moving average is $69.72 and its 200 day moving average is $71.81.

KLA-Tencor Corp. (NASDAQ:KLAC) last issued its quarterly 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 analyst estimates of $842.10 million. During the same quarter in the prior year, the business posted $0.99 EPS. KLA-Tencor Corp.’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that KLA-Tencor Corp. will post $4.92 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of 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 period. Geode Capital Management LLC raised its position in shares of 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 period. Legal & General Group Plc raised its position in shares of 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 period. OLD National Bancorp IN raised its position in shares of 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 period. Finally, First New York Securities LLC NY raised its position in shares of 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 period. 85.80% of the stock is owned by institutional investors and hedge funds.

KLA-Tencor Corp. Company Profile

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.

5 Day Chart for NASDAQ:KLAC

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