Needham & Company LLC Reiterates “Buy” Rating for KLA-Tencor Corporation (KLAC)
Needham & Company LLC reissued their buy rating on shares of KLA-Tencor Corporation (NASDAQ:KLAC) in a report issued on Friday. They currently have a $120.00 price objective on the semiconductor company’s stock.
Several other research analysts also recently commented on the company. Cowen and Company reiterated a buy rating and set a $120.00 target price on shares of KLA-Tencor Corporation in a research note on Tuesday, July 11th. Credit Suisse Group set a $115.00 target price on KLA-Tencor Corporation and gave the stock a buy rating in a research note on Saturday, July 29th. BidaskClub raised KLA-Tencor Corporation from a hold rating to a buy rating in a report on Thursday, July 13th. Susquehanna Bancshares Inc reissued a reduce rating and set a $65.00 price target on shares of KLA-Tencor Corporation in a report on Wednesday, June 28th. Finally, Stifel Nicolaus raised KLA-Tencor Corporation from a hold rating to a buy rating and lifted their price target for the stock from $103.00 to $106.00 in a report on Sunday, August 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $98.86.
Shares of KLA-Tencor Corporation (NASDAQ KLAC) opened at 94.08 on Friday. KLA-Tencor Corporation has a 52 week low of $68.43 and a 52 week high of $109.59. The company has a 50 day moving average price of $93.73 and a 200 day moving average price of $96.20. The company has a market cap of $14.76 billion, a PE ratio of 16.00 and a beta of 1.62.
KLA-Tencor Corporation (NASDAQ:KLAC) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a return on equity of 88.61% and a net margin of 26.61%. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $923.80 million. During the same period in the previous year, the company posted $1.77 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts expect that KLA-Tencor Corporation will post $6.70 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a $0.59 dividend. The ex-dividend date was Friday, August 11th. This is a boost from KLA-Tencor Corporation’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 2.51%. KLA-Tencor Corporation’s payout ratio is currently 40.14%.
In other KLA-Tencor Corporation news, CFO Bren D. Higgins sold 314 shares of KLA-Tencor Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $92.85, for a total value of $29,154.90. Following the completion of the transaction, the chief financial officer now directly owns 314 shares of the company’s stock, valued at approximately $29,154.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 9,567 shares of KLA-Tencor Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.15, for a total value of $852,898.05. Following the completion of the transaction, the chief financial officer now directly owns 5,175 shares of the company’s stock, valued at $461,351.25. The disclosure for this sale can be found here. Insiders sold a total of 80,518 shares of company stock valued at $7,329,841 over the last ninety days. Insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in KLAC. BlackRock Inc. raised its holdings in KLA-Tencor Corporation by 1,865.4% in the 1st quarter. BlackRock Inc. now owns 11,140,657 shares of the semiconductor company’s stock valued at $1,059,142,000 after acquiring an additional 10,573,812 shares in the last quarter. Janus Henderson Group PLC raised its holdings in KLA-Tencor Corporation by 24,123.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,308,404 shares of the semiconductor company’s stock valued at $394,262,000 after acquiring an additional 4,290,618 shares in the last quarter. FMR LLC raised its holdings in KLA-Tencor Corporation by 162.0% in the 1st quarter. FMR LLC now owns 5,166,949 shares of the semiconductor company’s stock valued at $491,222,000 after acquiring an additional 3,194,775 shares in the last quarter. Koch Industries Inc. raised its holdings in KLA-Tencor Corporation by 16,899.5% in the 2nd quarter. Koch Industries Inc. now owns 745,260 shares of the semiconductor company’s stock valued at $737,000 after acquiring an additional 740,876 shares in the last quarter. Finally, Janus Capital Management LLC raised its holdings in KLA-Tencor Corporation by 18.4% in the 1st quarter. Janus Capital Management LLC now owns 3,450,226 shares of the semiconductor company’s stock valued at $328,013,000 after acquiring an additional 535,940 shares in the last quarter. 89.18% of the stock is owned by hedge funds and other institutional investors.
About KLA-Tencor Corporation
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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