KLA (NASDAQ:KLAC) PT Lowered to $870.00

KLA (NASDAQ:KLAC) had its target price reduced by equities researchers at Wells Fargo & Company from $950.00 to $870.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 10.49% from the stock’s current price.

Several other research analysts have also recently issued reports on KLAC. UBS Group cut their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Barclays increased their target price on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. TD Cowen raised their price objective on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Raymond James raised their price objective on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $804.81.

KLA Price Performance

Shares of KLAC opened at $787.39 on Thursday. KLA has a fifty-two week low of $449.35 and a fifty-two week high of $896.32. The company has a market capitalization of $106.01 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27. The firm has a 50-day simple moving average of $768.54 and a 200-day simple moving average of $760.04. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15.

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

Insider Buying and Selling at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock worth $14,532,193 in the last quarter. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On KLA

Hedge funds have recently made changes to their positions in the business. Cedar Wealth Management LLC raised its stake in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 17 shares during the period. Family Firm Inc. purchased a new stake in KLA during the 2nd quarter worth $30,000. Jones Financial Companies Lllp increased its stake in KLA by 2,033.3% during the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in KLA during the 2nd quarter worth $44,000. Finally, LRI Investments LLC purchased a new stake in KLA during the 1st quarter worth $45,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

About KLA

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.