KLA-Tencor Corporation (NASDAQ:KLAC) Downgraded to Hold at BidaskClub
BidaskClub downgraded shares of KLA-Tencor Corporation (NASDAQ:KLAC) from a buy rating to a hold rating in a report released on Tuesday morning.
A number of other analysts have also recently weighed in on KLAC. UBS AG reaffirmed a neutral rating and issued a $110.00 price objective on shares of KLA-Tencor Corporation in a report on Tuesday, June 13th. B. Riley reiterated a buy rating and issued a $115.00 target price on shares of KLA-Tencor Corporation in a research report on Wednesday, May 3rd. Cowen and Company reiterated a buy rating and issued a $120.00 target price on shares of KLA-Tencor Corporation in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a hold rating and issued a $102.00 target price (up previously from $92.00) on shares of KLA-Tencor Corporation in a research report on Monday, June 19th. Finally, Deutsche Bank AG reiterated a hold rating and issued a $100.00 target price (up previously from $85.00) on shares of KLA-Tencor Corporation in a research report on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $95.24.
Shares of KLA-Tencor Corporation (KLAC) traded down 5.53% during midday trading on Tuesday, hitting $94.40. 1,864,670 shares of the stock were exchanged. KLA-Tencor Corporation has a 12-month low of $66.88 and a 12-month high of $109.59. The firm has a market cap of $14.79 billion, a P/E ratio of 16.05 and a beta of 1.63. The firm has a 50 day moving average of $97.53 and a 200 day moving average of $95.03.
KLA-Tencor Corporation (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.05. KLA-Tencor Corporation had a net margin of 26.61% and a return on equity of 96.92%. The business had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $923.80 million. During the same quarter last year, the company earned $1.77 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that KLA-Tencor Corporation will post $6.68 EPS for the current fiscal year.
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In other KLA-Tencor Corporation news, Director Kevin Kennedy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $91.33, for a total value of $228,325.00. Following the completion of the transaction, the director now directly owns 6,219 shares in the company, valued at $567,981.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian Lorig sold 1,663 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $99.81, for a total transaction of $165,984.03. Following the completion of the transaction, the senior vice president now owns 1,346 shares of the company’s stock, valued at $134,344.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,932 shares of company stock valued at $1,267,268. Corporate insiders own 0.26% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KLAC. Grove Bank & Trust boosted its position in shares of KLA-Tencor Corporation by 30.2% in the second quarter. Grove Bank & Trust now owns 1,250 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 290 shares during the last quarter. Cohen Capital Management Inc. purchased a new position in shares of KLA-Tencor Corporation during the first quarter valued at approximately $119,000. Ledyard National Bank purchased a new position in shares of KLA-Tencor Corporation during the first quarter valued at approximately $135,000. Trust Co. of Vermont boosted its position in shares of KLA-Tencor Corporation by 3.2% in the first quarter. Trust Co. of Vermont now owns 1,457 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 45 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of KLA-Tencor Corporation by 82.4% in the first quarter. IFP Advisors Inc now owns 2,054 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 928 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.
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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