Needham Sticks to Its Hold Rating for Kla-Tencor Corp (KLAC)

By Jason Carr

In a report released today, Quinn Bolton from Needham maintained a Hold rating on Kla-Tencor Corp (KLACResearch Report). The company’s shares closed yesterday at $124.61, close to its 52-week high of $129.03.

According to, Bolton is a top 100 analyst with an average return of 17.3% and a 67.8% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Applied Materials Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kla-Tencor Corp with a $131.38 average price target, which is a 5.4% upside from current levels. In a report released yesterday, Susquehanna also reiterated a Hold rating on the stock with a $105 price target.

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Based on Kla-Tencor Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $193 million. In comparison, last year the company had a net profit of $307 million.

Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock.

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KLA-Tencor 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.