TD Cowen Lowers KLA (NASDAQ:KLAC) Price Target to $725.00

KLA (NASDAQ:KLAC) had its price objective cut by research analysts at TD Cowen from $760.00 to $725.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target suggests a potential upside of 8.31% from the stock’s current price.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $750.00 to $850.00 in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Barclays raised their price objective 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. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and an average price target of $802.90.

KLA Price Performance

KLAC opened at $669.38 on Thursday. The firm has a market cap of $89.68 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.75 and a beta of 1.27. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock’s 50-day moving average price is $744.15 and its 200 day moving average price is $762.89. KLA has a 12-month low of $484.33 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 108.40%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.74 earnings per share. As a group, sell-side analysts expect that KLA will post 29.07 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On KLA

Large investors have recently bought and sold shares of the company. Capital Market Strategies LLC increased its stake in shares of KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after acquiring an additional 13 shares during the period. CVA Family Office LLC raised its stake in shares of KLA by 3.7% during the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares in the last quarter. HBW Advisory Services LLC lifted its holdings in shares of KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares during the period. TIAA Trust National Association grew its holdings in KLA by 0.4% during the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 14 shares during the period. Finally, United Community Bank grew its stake in shares of KLA by 4.0% during the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

About KLA

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.