KLA-Tencor Corp (KLAC) is Upgraded by Cowen to Outperform, Raises Price Target to $ 80

KLA-Tencor Corp (KLAC) was Upgraded by Cowen to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 80 from a previous price target of $79 . Earlier the firm had a rating of “Market Perform ” on the company shares. Cowen advised their investors in a research report released on Aug 29, 2016.

Many Wall Street Analysts have commented on KLA-Tencor Corp. Company shares were Reiterated by Cowen on Jul 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 79 from a previous price target of $70 .

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 closed down -2.47 points or -3.50% at $68.05 with 24,41,822 shares getting traded on Tuesday. Post opening the session at $70.76, the shares hit an intraday low of $67.71 and an intraday high of $71.135 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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