Cowen initiated coverage on shares of KLA-Tencor (NASDAQ:KLAC) in a research note published on Monday morning. The firm issued an outperform rating and a $140.00 target price on the semiconductor company’s stock.
A number of other equities research analysts also recently weighed in on the stock. BidaskClub upgraded shares of KLA-Tencor from a hold rating to a buy rating in a research report on Tuesday, May 8th. Zacks Investment Research upgraded shares of KLA-Tencor from a hold rating to a strong-buy rating and set a $118.00 price target for the company in a research report on Monday, April 30th. Citigroup lifted their price target on shares of KLA-Tencor from $122.00 to $127.00 and gave the company a buy rating in a research report on Monday, April 30th. Credit Suisse Group dropped their price target on shares of KLA-Tencor from $134.00 to $130.00 and set an outperform rating for the company in a research report on Friday, April 27th. Finally, Stifel Nicolaus lifted their price target on shares of KLA-Tencor from $139.00 to $143.00 and gave the company a buy rating in a research report on Friday, April 27th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. KLA-Tencor currently has an average rating of Buy and an average target price of $127.93.
Shares of KLAC stock opened at $112.73 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.78 and a quick ratio of 3.07. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.86 and a beta of 1.50. KLA-Tencor has a 12-month low of $111.75 and a 12-month high of $113.79.
KLA-Tencor (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.03. KLA-Tencor had a net margin of 18.17% and a return on equity of 86.87%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. sell-side analysts anticipate that KLA-Tencor will post 7.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.66%. This is a boost from KLA-Tencor’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, May 14th. KLA-Tencor’s dividend payout ratio (DPR) is 39.73%.
KLA-Tencor declared that its Board of Directors has initiated a share repurchase plan on Monday, March 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Bren D. Higgins sold 854 shares of KLA-Tencor stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $112.92, for a total value of $96,433.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Institutional & Family Asset Management LLC bought a new position in KLA-Tencor in the first quarter valued at approximately $107,000. Silvant Capital Management LLC bought a new stake in shares of KLA-Tencor during the first quarter worth $123,000. First Mercantile Trust Co. grew its stake in shares of KLA-Tencor by 121.7% during the first quarter. First Mercantile Trust Co. now owns 1,299 shares of the semiconductor company’s stock worth $142,000 after buying an additional 713 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of KLA-Tencor during the first quarter worth $176,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of KLA-Tencor during the first quarter worth $182,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.
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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