KLA-Tencor’s (KLAC) “Outperform” Rating Reiterated at Cowen

Cowen reiterated their outperform rating on shares of KLA-Tencor (NASDAQ:KLAC) in a report issued on Wednesday morning, The Fly reports. The brokerage currently has a $170.00 target price on the semiconductor company’s stock, up from their previous target price of $155.00.

Other research analysts have also recently issued research reports about the company. Citigroup upped their price target on KLA-Tencor from $126.00 to $156.50 and gave the company a buy rating in a research report on Friday, August 23rd. Goldman Sachs Group cut KLA-Tencor from a neutral rating to a sell rating in a research report on Monday, July 22nd. BidaskClub raised KLA-Tencor from a buy rating to a strong-buy rating in a research report on Wednesday, August 21st. Credit Suisse Group upped their price target on KLA-Tencor from $130.00 to $170.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. Finally, ValuEngine raised KLA-Tencor from a hold rating to a buy rating in a report on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. KLA-Tencor currently has a consensus rating of Buy and an average price target of $152.42.

Shares of NASDAQ KLAC opened at $155.50 on Wednesday. KLA-Tencor has a one year low of $80.65 and a one year high of $159.30. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.44 and a quick ratio of 1.73. The business’s fifty day moving average price is $143.00 and its 200-day moving average price is $124.73. The stock has a market capitalization of $25.16 billion, a PE ratio of 18.63, a P/E/G ratio of 1.26 and a beta of 1.68.

KLA-Tencor (NASDAQ:KLAC) last issued its quarterly earnings results on Monday, August 5th. The semiconductor company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. KLA-Tencor had a return on equity of 60.86% and a net margin of 25.73%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $2.22 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts expect that KLA-Tencor will post 9.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. KLA-Tencor’s dividend payout ratio (DPR) is 35.46%.

In other KLA-Tencor news, EVP Brian Lorig sold 1,505 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $151.58, for a total value of $228,127.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian M. Trafas sold 274 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $121.36, for a total value of $33,252.64. Following the transaction, the insider now owns 274 shares in the company, valued at $33,252.64. The disclosure for this sale can be found here. Insiders have sold a total of 42,807 shares of company stock worth $5,860,097 in the last three months. 0.19% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in KLA-Tencor by 5,663.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,920 shares of the semiconductor company’s stock worth $156,842,000 after acquiring an additional 1,303,895 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of KLA-Tencor by 27,967.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,186,409 shares of the semiconductor company’s stock valued at $140,234,000 after purchasing an additional 1,182,182 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of KLA-Tencor by 35.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,377,593 shares of the semiconductor company’s stock valued at $281,031,000 after purchasing an additional 619,019 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of KLA-Tencor by 19.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,545,429 shares of the semiconductor company’s stock valued at $423,360,000 after purchasing an additional 571,970 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of KLA-Tencor by 4.8% in the 1st quarter. BlackRock Inc. now owns 11,778,110 shares of the semiconductor company’s stock valued at $1,406,425,000 after purchasing an additional 541,351 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

About KLA-Tencor

KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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