KLA (NASDAQ:KLAC) Price Target Raised to $760.00

KLA (NASDAQ:KLAC) had its price objective raised by TD Cowen from $700.00 to $760.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on KLA in a research note on Thursday, April 11th. They set a buy rating and a $800.00 price target for the company. Barclays raised KLA from an underweight rating to an equal weight rating and increased their price target for the company from $630.00 to $765.00 in a research note on Wednesday, June 5th. Raymond James increased their price target on KLA from $750.00 to $875.00 and gave the company an outperform rating in a research note on Friday, June 7th. Morgan Stanley increased their price target on KLA from $692.00 to $698.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Finally, Citigroup increased their price target on KLA from $760.00 to $980.00 and gave the company a buy rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $806.24.

KLA Stock Performance

Shares of KLAC stock opened at $787.39 on Thursday. KLA has a 12-month low of $440.15 and a 12-month high of $896.32. The firm has a market capitalization of $106.01 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 3.10 and a beta of 1.27. The business has a 50 day simple moving average of $809.47 and a 200 day simple moving average of $717.98. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.46.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $5.40 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that KLA will post 29.09 EPS for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a $1.45 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.74%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ahmad A. Khan sold 7,833 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total value of $5,953,080.00. Following the transaction, the insider now owns 32,105 shares in the company, valued at $24,399,800. The disclosure for this sale can be found here. Insiders sold a total of 22,905 shares of company stock valued at $16,831,966 over the last quarter. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

Several institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its stake in shares of KLA by 13.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the semiconductor company’s stock worth $5,511,000 after purchasing an additional 1,096 shares during the period. Intact Investment Management Inc. increased its stake in shares of KLA by 7.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 100 shares during the period. Baader Bank Aktiengesellschaft bought a new position in shares of KLA in the fourth quarter worth about $4,559,000. State of Michigan Retirement System increased its stake in shares of KLA by 5.9% in the fourth quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock worth $23,059,000 after purchasing an additional 2,200 shares during the period. Finally, Meritage Portfolio Management increased its stake in shares of KLA by 6.8% in the fourth quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock worth $15,478,000 after purchasing an additional 1,692 shares during the period. 86.65% of the stock is currently owned by institutional investors.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.