Susquehanna Lowers KLA (NASDAQ:KLAC) Price Target to $675.00

KLA (NASDAQ:KLAC) had its price target cut by stock analysts at Susquehanna from $680.00 to $675.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective points to a potential downside of 16.02% from the stock’s previous close.

KLAC has been the subject of a number of other reports. Argus upped their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Citigroup decreased their price objective on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. UBS Group decreased their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen increased their price target on KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average target price of $804.57.

KLA Price Performance

KLAC opened at $803.73 on Friday. KLA has a 12-month low of $452.01 and a 12-month high of $896.32. 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 business’s fifty day simple moving average is $771.73 and its 200-day simple moving average is $763.84. The company has a market capitalization of $108.21 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 1.60 and a beta of 1.27.

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 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 business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $5.40 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that KLA will post 29.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the firm’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 value of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the firm’s 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 sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock valued at $14,532,193 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Institutional Trading of KLA

Several institutional investors have recently bought and sold shares of KLAC. Optimist Retirement Group LLC purchased a new position in shares of KLA in the fourth quarter valued at approximately $2,397,000. GLOBALT Investments LLC GA purchased a new position in shares of KLA in the fourth quarter valued at approximately $2,254,000. Sierra Summit Advisors LLC purchased a new position in shares of KLA in the fourth quarter valued at approximately $491,000. Beacon Financial Group purchased a new position in shares of KLA in the fourth quarter valued at approximately $225,000. Finally, Integrated Advisors Network LLC lifted its position in shares of KLA by 317.8% in the fourth quarter. Integrated Advisors Network LLC now owns 9,000 shares of the semiconductor company’s stock valued at $5,232,000 after acquiring an additional 6,846 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.