Bank of America assumed coverage on shares of KLA-Tencor (NASDAQ:KLAC) in a research note released on Wednesday. The firm issued a buy rating and a $140.00 price target on the semiconductor company’s stock.

KLAC has been the subject of a number of other reports. KeyCorp upgraded KLA-Tencor from a sector weight rating to an overweight rating and set a $134.00 price target for the company in a research note on Monday, December 18th. Zacks Investment Research raised KLA-Tencor from a hold rating to a buy rating and set a $122.00 price objective on the stock in a report on Wednesday, December 27th. Credit Suisse Group reissued an outperform rating and issued a $134.00 price objective (up from $124.00) on shares of KLA-Tencor in a report on Monday, January 29th. Needham & Company LLC lowered KLA-Tencor from a strong-buy rating to a buy rating and set a $130.00 price objective on the stock. in a report on Monday, January 8th. Finally, Stifel Nicolaus increased their price objective on KLA-Tencor from $121.00 to $139.00 and gave the company a buy rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $121.27.

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Shares of KLAC stock opened at $116.05 on Wednesday. The company has a quick ratio of 3.06, a current ratio of 3.73 and a debt-to-equity ratio of 2.03. KLA-Tencor has a 12 month low of $87.93 and a 12 month high of $123.96. The company has a market capitalization of $18,266.65, a PE ratio of 28.45 and a beta of 1.43.

KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.24. KLA-Tencor had a return on equity of 85.81% and a net margin of 17.28%. The company had revenue of $975.82 million during the quarter, compared to analysts’ expectations of $968.00 million. During the same period last year, the business posted $1.52 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. equities research analysts predict that KLA-Tencor will post 7.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.59%. This is a positive change from KLA-Tencor’s previous quarterly dividend of $0.59. KLA-Tencor’s dividend payout ratio (DPR) is 56.87%.

KLA-Tencor announced that its board has approved a stock repurchase program on Monday, March 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, EVP Ahmad A. Khan sold 2,975 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $99.71, for a total transaction of $296,637.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 854 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $112.92, for a total value of $96,433.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,445 shares of company stock worth $2,579,450. 0.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. KCM Investment Advisors LLC acquired a new stake in KLA-Tencor during the fourth quarter worth about $309,000. Xact Kapitalforvaltning AB grew its holdings in KLA-Tencor by 4.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 36,674 shares of the semiconductor company’s stock worth $3,853,000 after acquiring an additional 1,534 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in KLA-Tencor by 598.8% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 59,400 shares of the semiconductor company’s stock worth $6,241,000 after acquiring an additional 50,900 shares during the period. MetLife Investment Advisors LLC acquired a new stake in KLA-Tencor during the fourth quarter worth about $5,095,000. Finally, BB&T Securities LLC acquired a new stake in KLA-Tencor during the fourth quarter worth about $210,000. 91.26% of the stock is currently owned by hedge funds and other institutional investors.

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KLA-Tencor Company Profile

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.

Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)

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