Trading Report: The KLA-Tencor Corp. (KLAC) Upgraded to Buy by Berenberg Bank

The KLA-Tencor Corp. (KLAC) Upgraded to Buy by Berenberg Bank

Berenberg Bank upgraded shares of KLA-Tencor Corp. (NASDAQ:KLAC) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other brokerages have also recently issued reports on KLAC. JPMorgan Chase & Co. reiterated a buy rating on shares of KLA-Tencor Corp. in a research note on Wednesday, August 17th. Zacks Investment Research cut KLA-Tencor Corp. from a hold rating to a sell rating in a research note on Monday, August 1st. Citigroup Inc. boosted their price target on KLA-Tencor Corp. from $74.00 to $78.00 and gave the company a neutral rating in a research note on Friday, July 29th. Deutsche Bank AG boosted their price target on KLA-Tencor Corp. from $72.00 to $78.00 and gave the company a hold rating in a research note on Friday, July 29th. Finally, B. Riley reiterated a neutral rating and issued a $78.00 price target on shares of KLA-Tencor Corp. in a research note on Thursday, July 28th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $76.21.

Shares of KLA-Tencor Corp. (NASDAQ:KLAC) opened at 72.39 on Thursday. KLA-Tencor Corp. has a 1-year low of $51.16 and a 1-year high of $77.85. The stock has a 50 day moving average price of $69.85 and a 200 day moving average price of $71.84. The firm has a market capitalization of $11.29 billion, a PE ratio of 16.12 and a beta of 1.75.

KLA-Tencor Corp. (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.35. The business earned $919.17 million during the quarter, compared to analysts’ expectations of $842.10 million. KLA-Tencor Corp. had a return on equity of 159.94% and a net margin of 23.60%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. Equities research analysts anticipate that KLA-Tencor Corp. will post $4.92 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in KLAC. Vanguard Group Inc. boosted its position in shares of KLA-Tencor Corp. by 2.1% in the second quarter. Vanguard Group Inc. now owns 14,514,615 shares of the company’s stock worth $1,063,195,000 after buying an additional 294,033 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of KLA-Tencor Corp. by 23.7% in the second quarter. JPMorgan Chase & Co. now owns 13,524,187 shares of the company’s stock worth $990,649,000 after buying an additional 2,592,262 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of KLA-Tencor Corp. by 6.1% in the second quarter. Primecap Management Co. CA now owns 13,212,268 shares of the company’s stock worth $967,799,000 after buying an additional 762,672 shares during the last quarter. Westchester Capital Management LLC boosted its position in shares of KLA-Tencor Corp. by 5.6% in the second quarter. Westchester Capital Management LLC now owns 2,854,514 shares of the company’s stock worth $209,093,000 after buying an additional 150,206 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of KLA-Tencor Corp. by 10.6% in the second quarter. BlackRock Fund Advisors now owns 2,783,074 shares of the company’s stock worth $203,860,000 after buying an additional 267,092 shares during the last quarter. Institutional investors own 85.80% of the company’s stock.

About KLA-Tencor Corp.

Related posts

Leave a Comment