KLA (NASDAQ:KLAC) Downgraded to Sell at UBS Group

UBS Group cut shares of KLA (NASDAQ:KLAC) from a neutral rating to a sell rating in a research report report published on Thursday, Briefing.com Automated Import reports. The firm currently has $140.00 target price on the semiconductor company’s stock, down from their previous target price of $192.00.

Other research analysts have also issued reports about the company. Cowen increased their target price on KLA from $170.00 to $195.00 and gave the stock an outperform rating in a research report on Thursday, October 31st. Bank of America increased their target price on KLA from $180.00 to $190.00 and gave the stock a buy rating in a research report on Thursday, October 31st. Wells Fargo & Co increased their target price on KLA from $150.00 to $175.00 and gave the stock a market perform rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on KLA from $180.00 to $200.00 and gave the stock an outperform rating in a research report on Thursday, October 31st. Finally, Deutsche Bank increased their target price on KLA from $120.00 to $133.00 and gave the stock a hold rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $175.08.

NASDAQ:KLAC traded down $3.10 during trading hours on Thursday, reaching $158.49. 2,273,900 shares of the company traded hands, compared to its average volume of 1,554,262. The firm’s 50-day moving average is $167.22 and its 200-day moving average is $138.23. The stock has a market cap of $27.77 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.50 and a beta of 1.72. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.24 and a quick ratio of 1.60. KLA has a 1-year low of $80.65 and a 1-year high of $179.95.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.28. KLA had a return on equity of 54.53% and a net margin of 23.03%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The business’s revenue was up 29.3% on a year-over-year basis. As a group, research analysts predict that KLA will post 9.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a $0.85 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from KLA’s previous quarterly dividend of $0.75. This represents a $3.40 annualized dividend and a yield of 2.15%. KLA’s dividend payout ratio (DPR) is 40.19%.

In other news, CEO Amichai Steimberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $150.00, for a total transaction of $375,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,005 shares in the company, valued at $1,800,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ahmad A. Khan sold 4,142 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.13, for a total value of $729,530.46. The disclosure for this sale can be found here. Insiders sold 30,809 shares of company stock worth $5,195,153 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in shares of KLA by 9.8% during the second quarter. Asset Management One Co. Ltd. now owns 92,577 shares of the semiconductor company’s stock valued at $10,944,000 after acquiring an additional 8,236 shares in the last quarter. American National Bank grew its stake in shares of KLA by 46.4% during the third quarter. American National Bank now owns 46,765 shares of the semiconductor company’s stock valued at $7,457,000 after acquiring an additional 14,828 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of KLA by 6.3% during the third quarter. CENTRAL TRUST Co now owns 13,066 shares of the semiconductor company’s stock valued at $2,083,000 after acquiring an additional 780 shares in the last quarter. ETRADE Capital Management LLC grew its stake in shares of KLA by 52.1% during the second quarter. ETRADE Capital Management LLC now owns 2,714 shares of the semiconductor company’s stock valued at $321,000 after acquiring an additional 930 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of KLA by 24.6% during the second quarter. Candriam Luxembourg S.C.A. now owns 11,610 shares of the semiconductor company’s stock valued at $1,366,000 after acquiring an additional 2,290 shares in the last quarter. Institutional investors own 86.26% of the company’s stock.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Analyst Recommendations for KLA (NASDAQ:KLAC)

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