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Fly News Breaks for April 16, 2019
KLAC
Apr 16, 2019 | 16:47 EDT
Needham analyst Quinn Bolton initiated coverage of KLA-Tencor with a Hold rating and no price target. The analyst is concerned about the "stagnation of growth" in the optical inspection segment of the process control market, which he notes is KLA-Tencor's single largest business segment. Further, he questions the company's ability to both grow Orbotech's revenue and expand margins given the competitive pricing landscape in Orbotech's markets. As such, Bolton finds shares of KLA-Tencor fairly valued.
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