KLA-Tencor Corp (KLAC) is Reiterated by Cowen to Market Perform, Raises Price Target to $ 79

KLA-Tencor Corp (KLAC) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 79 from a previous price target of $70 . Cowen advised their investors in a research report released on Jul 29, 2016.

On the company’s financial health, KLA-Tencor Corp reported $1.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.42. The company had revenue of $919.17 million for the quarter, compared to analysts expectations of $842.10 million. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

KLA-Tencor Corp opened for trading at $77.38 and hit $77.85 on the upside on Thursday, eventually ending the session at $77.45, with a gain of 0.58% or 0.45 points. The heightened volatility saw the trading volume jump to 9,46,068 shares. Company has a market cap of $12,060 M.

In a different news, on Jul 7, 2016, Bren D. Higgins (EVP & Chief Financial Officer) sold 363 shares at $72.23 per share price. According to the SEC, on May 6, 2016, Bobby R Bell (Executive Vice President) sold 6,343 shares at $69.18 per share price. On Feb 10, 2016, Brian M. Trafas (SVP, Global Customer Org.) sold 3,057 shares at $64.60 per share price, according to the Form-4 filing with the securities and exchange commission.

KLA-Tencor Corporation is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The Company’s products are also used in various other industries including the light emitting diode (LED) and data storage industries as well as general materials research. KLA-Tencor’s products and services are used by bare wafer integrated circuit (IC) lithography reticle and disk manufacturers around the world. These customers turn to the Company for inline wafer and IC defect monitoring review and classification; reticle defect inspection and metrology; packaging and interconnect inspection; critical dimension (CD) metrology; pattern overlay metrology; film thickness surface topography and composition measurements; measurement of in-chamber process conditions wafer shape and stress metrology; computational lithography tools and overall yield and fab-wide data management and analysis systems.

KLA-Tencor Corp

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