Wells Fargo & Company Cuts KLA (NASDAQ:KLAC) Price Target to $795.00

KLA (NASDAQ:KLAC) had its target price cut by research analysts at Wells Fargo & Company from $800.00 to $795.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.74% from the company’s previous close.

KLAC has been the subject of several other research reports. The Goldman Sachs Group lowered their target price on shares of KLA from $850.00 to $759.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective on the stock in a research note on Monday. Citigroup cut their target price on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average target price of $809.10.

KLA Stock Down 0.3 %

Shares of NASDAQ KLAC traded down $2.05 during mid-day trading on Monday, reaching $681.01. 168,256 shares of the company’s stock traded hands, compared to its average volume of 1,029,416. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The business has a 50-day simple moving average of $650.27 and a 200 day simple moving average of $728.30. The stock has a market cap of $91.09 billion, a P/E ratio of 31.10, a PEG ratio of 1.39 and a beta of 1.27. KLA has a 1-year low of $552.85 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $5.74 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts expect that KLA will post 30.61 EPS for the current fiscal year.

Hedge Funds Weigh In On KLA

Institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock valued at $4,630,424,000 after buying an additional 145,317 shares in the last quarter. Mizuho Securities USA LLC grew its stake in KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares in the last quarter. Geode Capital Management LLC grew its holdings in KLA by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock valued at $2,487,971,000 after buying an additional 93,743 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in KLA by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after buying an additional 28,172 shares during the period. Finally, Van ECK Associates Corp increased its position in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after acquiring an additional 286,015 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.