Brokerages Set KLA-Tencor Corp. (KLAC) Price Target at $81.53
Shares of KLA-Tencor Corp. (NASDAQ:KLAC) have been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the firm. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $81.53.
A number of research analysts have recently issued reports on KLAC shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of KLA-Tencor Corp. in a report on Wednesday, August 17th. Zacks Investment Research downgraded KLA-Tencor Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Vetr raised KLA-Tencor Corp. from a “buy” rating to a “strong-buy” rating and set a $83.21 target price on the stock in a report on Tuesday, November 1st. Credit Suisse Group AG raised KLA-Tencor Corp. from a “neutral” rating to an “outperform” rating and increased their target price for the company from $82.00 to $85.00 in a report on Tuesday, September 13th. Finally, Cowen and Company raised KLA-Tencor Corp. from a “market perform” rating to an “outperform” rating and increased their target price 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.
In related news, Director Kiran M. Patel sold 6,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $82.45, for a total transaction of $494,700.00. Following the completion of the sale, the director now owns 2,141 shares in the company, valued at $176,525.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ahmad A. Khan sold 10,775 shares of the stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $74.82, for a total value of $806,185.50. Following the sale, the executive vice president now owns 17,173 shares of the company’s stock, valued at approximately $1,284,883.86. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its position in KLA-Tencor Corp. by 15.3% in the third quarter. APG Asset Management N.V. now owns 271,305 shares of the company’s stock valued at $18,913,000 after buying an additional 36,038 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in KLA-Tencor Corp. during the second quarter valued at $10,987,000. Adage Capital Partners GP L.L.C. boosted its position in KLA-Tencor Corp. by 9.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,240,252 shares of the company’s stock valued at $90,848,000 after buying an additional 103,300 shares in the last quarter. OLD National Bancorp IN boosted 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 valued at $1,120,000 after buying an additional 3,739 shares in the last quarter. Finally, First New York Securities LLC NY boosted 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 valued at $103,000 after buying an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.
KLA-Tencor Corp. (NASDAQ:KLAC) opened at 82.27 on Friday. KLA-Tencor Corp. has a 12-month low of $62.33 and a 12-month high of $83.23. The firm’s 50-day moving average price is $75.35 and its 200-day moving average price is $72.73. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 16.57 and a beta of 1.60.
KLA-Tencor Corp. (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, October 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.13. The firm had revenue of $751 million for the quarter, compared to the consensus estimate of $735.01 million. KLA-Tencor Corp. had a return on equity of 138.28% and a net margin of 25.15%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities analysts predict that KLA-Tencor Corp. will post $5.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 10th. This represents a $2.16 annualized dividend and a dividend yield of 2.63%. This is a boost from KLA-Tencor Corp.’s previous quarterly dividend of $0.52. KLA-Tencor Corp.’s dividend payout ratio (DPR) is currently 43.55%.
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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