Kla-Tencor (KLAC) Gets a Buy Rating from Nomura

By Jason Carr

Nomura analyst David Wong maintained a Buy rating on Kla-Tencor (KLACResearch Report) today and set a price target of $215.00. The company’s shares closed last Wednesday at $162.78.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 16.3% and a 67.8% success rate. Wong covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Texas Instruments, and Maxim Integrated.

Currently, the analyst consensus on Kla-Tencor is a Moderate Buy with an average price target of $173.45, which is a 6.1% upside from current levels. In a report issued on May 3, Credit Suisse also maintained a Buy rating on the stock with a $200.00 price target.

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Based on Kla-Tencor’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.51 billion and net profit of $381 million. In comparison, last year the company earned revenue of $1.12 billion and had a net profit of $369 million.

Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KLAC in relation to earlier this year.

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KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. Its products include manufactured chips, reticle, packaging, surface profilers, nanochemical testers, KT pro equipment, and compound semiconductors. The company was founded in April 1997 and is headquartered in Milpitas, CA.