Shares of KLA Co. (NASDAQ:KLAC – Get Rating) have received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $437.00.
Several equities analysts recently commented on KLAC shares. The Goldman Sachs Group upgraded shares of KLA from a “neutral” rating to a “buy” rating and set a $430.00 target price for the company in a research note on Sunday, March 27th. Barclays cut their target price on shares of KLA from $400.00 to $365.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Evercore ISI set a $425.00 price objective on shares of KLA in a research note on Monday. Piper Sandler dropped their price objective on shares of KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research note on Thursday, May 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of KLA from $475.00 to $425.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th.
Shares of KLA stock opened at $324.44 on Friday. The firm has a fifty day simple moving average of $335.47 and a 200-day simple moving average of $364.67. The company has a current ratio of 2.33, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. KLA has a 1-year low of $287.44 and a 1-year high of $457.12. The stock has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.77 and a beta of 1.27.
KLA announced that its Board of Directors has approved a share repurchase program on Thursday, June 16th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, May 13th. KLA’s dividend payout ratio is currently 20.39%.
In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total transaction of $343,760.40. Following the sale, the chief financial officer now owns 64,257 shares of the company’s stock, valued at approximately $21,655,894.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in shares of KLA by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 948,057 shares of the semiconductor company’s stock valued at $407,769,000 after purchasing an additional 160,475 shares during the last quarter. Liontrust Investment Partners LLP bought a new position in shares of KLA in the 3rd quarter valued at about $2,676,000. Toroso Investments LLC boosted its stake in shares of KLA by 41.3% in the 3rd quarter. Toroso Investments LLC now owns 3,224 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 943 shares during the last quarter. MAI Capital Management bought a new position in shares of KLA in the 4th quarter valued at about $218,000. Finally, Palisade Asset Management LLC boosted its stake in shares of KLA by 9.1% in the 4th quarter. Palisade Asset Management LLC now owns 1,500 shares of the semiconductor company’s stock valued at $645,000 after purchasing an additional 125 shares during the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.
KLA Company Profile (Get Rating)
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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