KLA (NASDAQ:KLAC) Price Target Lowered to $925.00 at Cantor Fitzgerald

KLA (NASDAQ:KLAC) had its target price lowered by stock analysts at Cantor Fitzgerald from $950.00 to $925.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 22.73% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Citigroup lowered their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Barclays increased their target price on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $808.62.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $753.69 on Monday. KLA has a 1 year low of $448.31 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The stock has a fifty day moving average price of $767.88 and a two-hundred day moving average price of $759.14. The firm has a market cap of $101.48 billion, a P/E ratio of 39.48, a PEG ratio of 1.51 and a beta of 1.28.

KLA (NASDAQ:KLAC) last released its earnings results 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. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned $5.40 earnings per share. KLA’s revenue was up 9.1% compared to the same quarter last year. Research analysts forecast that KLA will post 29.09 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC raised its stake in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. bought a new stake in shares of KLA in the second quarter valued at about $30,000. Jones Financial Companies Lllp grew its position 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 buying an additional 61 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in KLA during the second quarter valued at about $44,000. Finally, LRI Investments LLC acquired a new position in KLA in the 1st quarter valued at approximately $45,000. 86.65% of the stock is owned by institutional investors.

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.