KLA (NASDAQ:KLAC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of KLA (NASDAQ:KLAC) from a hold rating to a buy rating in a report issued on Thursday.

Several other research analysts have also recently issued reports on KLAC. Barclays increased their price target on shares of KLA from $765.00 to $800.00 and gave the stock an equal weight rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on KLA from $860.00 to $950.00 and gave the company an overweight rating in a report on Monday, June 17th. Susquehanna dropped their price objective on KLA from $730.00 to $680.00 and set a neutral rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group boosted their target price on shares of KLA from $735.00 to $838.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Finally, Evercore ISI increased their price target on shares of KLA from $800.00 to $900.00 and gave the company an outperform rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $806.24.

KLA Stock Down 7.9 %

KLAC opened at $696.17 on Thursday. KLA has a 52 week low of $440.15 and a 52 week high of $896.32. The business has a 50 day moving average price of $808.65 and a two-hundred day moving average price of $725.02. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The company has a market cap of $93.73 billion, a PE ratio of 36.47, a P/E/G ratio of 1.50 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $5.40 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that KLA will post 29.09 EPS for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $1.45 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.83%. KLA’s dividend payout ratio (DPR) is currently 30.38%.

Insiders Place Their Bets

In other news, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the sale, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction dated 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 owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. In the last three months, insiders sold 22,905 shares of company stock valued at $16,831,966. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of KLA in the 2nd quarter worth about $30,000. Cedar Wealth Management LLC lifted its holdings in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in KLA in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $28,000. Finally, Addison Advisors LLC acquired a new stake in shares of KLA during the 4th quarter worth approximately $29,000. 86.65% of the stock is owned by hedge funds and other 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.