KLA-Tencor (NASDAQ:KLAC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Saturday, April 7th.
KLAC has been the subject of several other research reports. KeyCorp raised shares of KLA-Tencor from a “sector weight” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Monday, December 18th. UBS assumed coverage on KLA-Tencor in a report on Wednesday, April 4th. They issued a “buy” rating and a $150.00 price target for the company. Bank of America assumed coverage on KLA-Tencor in a report on Wednesday, March 21st. They issued a “buy” rating and a $140.00 price target for the company. Zacks Investment Research upgraded KLA-Tencor from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Wednesday, December 27th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $134.00 target price (up previously from $124.00) on shares of KLA-Tencor in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $124.27.
NASDAQ:KLAC opened at $107.59 on Friday. KLA-Tencor has a 1-year low of $87.93 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.06 and a current ratio of 3.73. The firm has a market capitalization of $17,008.76, a P/E ratio of 18.11, a PEG ratio of 0.92 and a beta of 1.49.
KLA-Tencor (NASDAQ:KLAC) last released its 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. The company had revenue of $975.82 million during the quarter, compared to the consensus estimate of $968.00 million. KLA-Tencor had a return on equity of 85.81% and a net margin of 17.28%. KLA-Tencor’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. analysts forecast that KLA-Tencor will post 7.73 earnings per share for the current fiscal year.
KLA-Tencor declared that its Board of Directors has initiated a share buyback plan on Monday, March 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Ahmad A. Khan sold 2,975 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $99.71, for a total transaction of $296,637.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard P. Wallace sold 13,299 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $110.10, for a total value of $1,464,219.90. Following the transaction, the insider now owns 43,442 shares of the company’s stock, valued at $4,782,964.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,945 shares of company stock worth $2,526,530. Corporate insiders own 0.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. KCM Investment Advisors LLC bought a new position in shares of KLA-Tencor in the fourth quarter worth $309,000. Xact Kapitalforvaltning AB grew its stake in shares of KLA-Tencor by 4.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 36,674 shares of the semiconductor company’s stock worth $3,853,000 after purchasing an additional 1,534 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of KLA-Tencor by 598.8% in 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 purchasing an additional 50,900 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of KLA-Tencor in the fourth quarter worth $5,095,000. Finally, BB&T Securities LLC bought a new position in shares of KLA-Tencor in the fourth quarter worth $210,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.
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KLA-Tencor Company Profile
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products.
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