In a report released today, Craig Ellis from B.Riley FBR reiterated a Buy rating on Kla-Tencor Corp (NASDAQ: KLAC), with a price target of $120. The company’s shares opened today at $90.28, close to its 52-week low of $89.09.
Ellis said:
“KLA-Tencor (KLAC) reports 10/29 AMC and we project modest upside to Street and our F1Q19 estimates and in-line to modest risk to headline Street F2Q19 estimates. Our estimates are unchanged since July, though one-third of analysts reduced F2Q19 and/or FY19 forecasts after 9/6’s Samsung DRAM-induced F4Q shipment cut we pegged at $63M. We note four points. First, ASML and LRCX prints and guides were better than published and whisper numbers last week. Second, therein NAND is more stable than feared, DRAM’s about in line, while Foundry/Logic seems a little better, netting out favorably near term. Third, CY19 views suggest 1H19/2H18 growth, and flattish CY Y/Y spend, which means our LRCX and ASML EPS reset 9.0% and 12.0% above our mid-case spending risk assessment.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 26.1% and a 62.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Silicon Laboratories.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kla-Tencor Corp with a $145 average price target.
See today’s analyst top recommended stocks >>
Kla-Tencor Corp’s market cap is currently $14.17B and has a P/E ratio of 17.74. The company has a Price to Book ratio of 8.69.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
