KLA-Tencor (KLAC) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of KLA-Tencor (NASDAQ:KLAC) from a buy rating to a hold rating in a research note published on Saturday.

Several other analysts have also recently issued reports on the company. Zacks Investment Research raised KLA-Tencor from a hold rating to a buy rating and set a $122.00 target price on the stock in a research report on Wednesday, December 27th. KeyCorp raised KLA-Tencor from a sector weight rating to an overweight rating and set a $134.00 target price on the stock in a research report on Monday, December 18th. Needham & Company LLC cut KLA-Tencor from a strong-buy rating to a buy rating and set a $130.00 target price on the stock. in a research report on Monday, January 8th. Citigroup raised KLA-Tencor from a neutral rating to a buy rating and set a $112.00 target price on the stock in a research report on Thursday, February 15th. Finally, B. Riley reaffirmed a buy rating and set a $142.00 target price (up previously from $129.00) on shares of KLA-Tencor in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $124.27.

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Shares of NASDAQ:KLAC opened at $104.07 on Friday. KLA-Tencor has a 52-week low of $87.93 and a 52-week high of $123.96. The company has a market capitalization of $16,221.60, a P/E ratio of 17.52, a PEG ratio of 0.88 and a beta of 1.49. The company has a current ratio of 3.73, a quick ratio of 3.06 and a debt-to-equity ratio of 2.03.

KLA-Tencor (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.24. KLA-Tencor had a return on equity of 85.81% and a net margin of 17.28%. The company had revenue of $975.82 million for the quarter, compared to analysts’ expectations of $968.00 million. During the same quarter in the prior year, the firm earned $1.52 earnings per share. KLA-Tencor’s revenue was up 11.3% compared to the same quarter last year. equities research analysts predict that KLA-Tencor will post 7.73 earnings per share for the current fiscal year.

KLA-Tencor announced that its Board of Directors has approved a stock repurchase plan on Monday, March 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.88%. This is a positive change from KLA-Tencor’s previous quarterly dividend of $0.59. KLA-Tencor’s dividend payout ratio is currently 39.73%.

In other news, insider Richard P. Wallace sold 13,299 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $110.10, for a total transaction of $1,464,219.90. Following the completion of the sale, the insider now owns 43,442 shares in the company, valued at approximately $4,782,964.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Emiko Higashi sold 500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $109.27, for a total value of $54,635.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,945 shares of company stock valued at $2,526,530. Company insiders own 0.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of KLA-Tencor by 7.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 33,885 shares of the semiconductor company’s stock valued at $3,592,000 after purchasing an additional 2,491 shares during the last quarter. Cypress Capital Group purchased a new stake in shares of KLA-Tencor during the 3rd quarter valued at $336,000. E&G Advisors LP lifted its holdings in shares of KLA-Tencor by 36.0% during the 4th quarter. E&G Advisors LP now owns 6,800 shares of the semiconductor company’s stock valued at $714,000 after purchasing an additional 1,800 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of KLA-Tencor by 3.2% during the 4th quarter. Deutsche Bank AG now owns 1,322,056 shares of the semiconductor company’s stock valued at $138,902,000 after purchasing an additional 40,512 shares during the last quarter. Finally, Oakbrook Investments LLC lifted its holdings in shares of KLA-Tencor by 11.6% during the 4th quarter. Oakbrook Investments LLC now owns 14,115 shares of the semiconductor company’s stock valued at $1,483,000 after purchasing an additional 1,470 shares during the last quarter. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)

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