KLA-Tencor (KLAC) Stock Rating Lowered by Needham & Company LLC

Needham & Company LLC lowered shares of KLA-Tencor (NASDAQ:KLAC) from a strong-buy rating to a buy rating in a report issued on Monday, Marketbeat.com reports. They currently have $130.00 price objective on the semiconductor company’s stock.

KLAC has been the subject of several other research reports. KeyCorp raised KLA-Tencor from a sector weight rating to an overweight rating and set a $134.00 price objective for the company in a research report on Monday, December 18th. Stifel Nicolaus raised their price objective on KLA-Tencor from $106.00 to $114.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Zacks Investment Research raised KLA-Tencor from a hold rating to a buy rating and set a $122.00 price target for the company in a research report on Wednesday, December 27th. Citigroup lifted their price target on KLA-Tencor from $106.00 to $110.00 and gave the stock a neutral rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group lowered KLA-Tencor from a buy rating to a neutral rating and lowered their price target for the stock from $108.00 to $97.00 in a research report on Wednesday, September 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. KLA-Tencor currently has a consensus rating of Hold and an average price target of $110.95.

KLA-Tencor (NASDAQ KLAC) traded down $0.96 during trading hours on Monday, reaching $109.20. 866,923 shares of the company traded hands, compared to its average volume of 1,576,283. The company has a market capitalization of $17,130.00, a PE ratio of 16.75 and a beta of 1.63. KLA-Tencor has a twelve month low of $78.83 and a twelve month high of $114.43. The company has a current ratio of 3.11, a quick ratio of 2.59 and a debt-to-equity ratio of 1.72.

KLA-Tencor (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.17. The business had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $946.86 million. KLA-Tencor had a net margin of 27.82% and a return on equity of 84.61%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. analysts predict that KLA-Tencor will post 7.31 earnings per share for the current fiscal year.

In related news, SVP Virendra A. Kirloskar sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $101.52, for a total transaction of $60,912.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teri A. Little sold 3,120 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $105.77, for a total value of $330,002.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,664 shares of company stock valued at $3,191,064. Corporate insiders own 0.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of KLA-Tencor by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,882,077 shares of the semiconductor company’s stock valued at $1,544,879,000 after acquiring an additional 402,970 shares during the period. Janus Henderson Group PLC lifted its holdings in KLA-Tencor by 4.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,516,903 shares of the semiconductor company’s stock worth $478,792,000 after purchasing an additional 208,499 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in KLA-Tencor by 46.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,444,102 shares of the semiconductor company’s stock worth $259,075,000 after purchasing an additional 770,480 shares in the last quarter. Northern Trust Corp lifted its holdings in KLA-Tencor by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,988,424 shares of the semiconductor company’s stock worth $181,960,000 after purchasing an additional 6,922 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in KLA-Tencor by 375.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,120,753 shares of the semiconductor company’s stock worth $118,799,000 after purchasing an additional 885,147 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

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About KLA-Tencor

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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