KLA-Tencor (KLAC) Coverage Initiated at UBS

UBS started coverage on shares of KLA-Tencor (NASDAQ:KLAC) in a research report sent to investors on Wednesday, www.benzinga.com reports. The firm issued a buy rating and a $150.00 price objective on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC downgraded shares of KLA-Tencor from a strong-buy rating to a buy rating and set a $130.00 target price for the company. in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of KLA-Tencor from a hold rating to a buy rating and set a $122.00 target price for the company in a research note on Wednesday, December 27th. Stifel Nicolaus raised their target price on shares of KLA-Tencor from $121.00 to $139.00 and gave the company a buy rating in a research note on Wednesday, January 24th. BidaskClub upgraded shares of KLA-Tencor from a hold rating to a buy rating in a research note on Wednesday, January 24th. Finally, B. Riley reiterated a buy rating and issued a $142.00 target price (up from $129.00) on shares of KLA-Tencor in a research note on Monday, January 22nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $124.27.

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Shares of NASDAQ:KLAC opened at $104.07 on Wednesday. KLA-Tencor has a 52-week low of $87.93 and a 52-week high of $123.96. The stock has a market capitalization of $16,221.60, a P/E ratio of 14.80, a PEG ratio of 0.88 and a beta of 1.49. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.73 and a quick ratio of 3.06.

KLA-Tencor (NASDAQ:KLAC) last issued its earnings results on Thursday, January 25th. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.24. KLA-Tencor had a net margin of 17.28% and a return on equity of 85.81%. The business had revenue of $975.82 million during the quarter, compared to the consensus estimate of $968.00 million. During the same period last year, the business posted $1.52 EPS. KLA-Tencor’s revenue was up 11.3% on a year-over-year basis. sell-side analysts expect that KLA-Tencor will post 7.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.75 per share. This is an increase from KLA-Tencor’s previous quarterly dividend of $0.59. This represents a $3.00 annualized dividend and a yield of 2.88%. KLA-Tencor’s dividend payout ratio (DPR) is 39.73%.

KLA-Tencor announced that its Board of Directors has initiated a stock buyback program on Monday, March 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, insider Richard P. Wallace sold 13,299 shares of KLA-Tencor stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $110.10, for a total value of $1,464,219.90. Following the completion of the sale, the insider now directly owns 43,442 shares in the company, valued at $4,782,964.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Emiko Higashi sold 500 shares of KLA-Tencor stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $109.27, for a total transaction of $54,635.00. The disclosure for this sale can be found here. Insiders have sold 22,945 shares of company stock valued at $2,526,530 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC acquired a new stake in shares of KLA-Tencor in the fourth quarter valued at approximately $309,000. Xact Kapitalforvaltning AB raised its position in shares of KLA-Tencor by 4.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 36,674 shares of the semiconductor company’s stock valued at $3,853,000 after buying an additional 1,534 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of KLA-Tencor by 598.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 59,400 shares of the semiconductor company’s stock valued at $6,241,000 after buying an additional 50,900 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of KLA-Tencor in the fourth quarter valued at approximately $5,095,000. Finally, BB&T Securities LLC acquired a new stake in shares of KLA-Tencor in the fourth quarter valued at approximately $210,000. 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.

Analyst Recommendations for KLA-Tencor (NASDAQ:KLAC)

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