KLA (NASDAQ:KLAC) Price Target Lowered to $765.00 at UBS Group

KLA (NASDAQ:KLAC) had its price objective reduced by analysts at UBS Group from $900.00 to $765.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. UBS Group’s price objective would suggest a potential upside of 4.52% from the stock’s previous close.

A number of other brokerages have also recently issued reports on KLAC. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Susquehanna decreased their target price on KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company increased their price objective on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. TD Cowen increased their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Barclays increased their price objective on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $805.52.

KLA Stock Performance

Shares of NASDAQ KLAC traded down $16.92 during trading on Thursday, reaching $731.90. 262,710 shares of the stock traded hands, compared to its average volume of 928,164. KLA has a 52-week low of $440.15 and a 52-week high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The company has a 50-day moving average of $789.58 and a 200-day moving average of $752.45. The stock has a market capitalization of $98.54 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28.

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. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.40 EPS. Analysts forecast that KLA will post 29.09 EPS for the current fiscal year.

Insider Activity at KLA

In related news, EVP Brian Lorig sold 44 shares of KLA 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 transaction, the executive vice president now directly owns 14,211 shares in the company, valued at $11,644,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,917 shares of company stock worth $14,568,247. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

Hedge funds have recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new stake in shares of KLA in the fourth quarter worth about $26,000. Cedar Wealth Management LLC increased its stake in KLA by 77.3% during 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. DSM Capital Partners LLC bought a new stake in KLA during the fourth quarter worth approximately $28,000. Family Firm Inc. bought a new stake in KLA during the second quarter worth approximately $30,000. Finally, Jones Financial Companies Lllp increased its stake in KLA by 2,033.3% during the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 61 shares during the last quarter. 86.65% of the stock is currently 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.