Barclays Cuts KLA (NASDAQ:KLAC) Price Target to $750.00

KLA (NASDAQ:KLAC) had its target price cut by Barclays from $800.00 to $750.00 in a report published on Thursday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Argus upped their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen cut their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, UBS Group cut their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $802.90.

KLA Price Performance

KLAC stock opened at $669.38 on Thursday. The stock has a 50-day moving average price of $744.15 and a two-hundred day moving average price of $763.38. KLA has a 12-month low of $484.33 and a 12-month high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 1.65. The company has a market cap of $89.68 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping 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 company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm posted $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, research analysts predict that KLA will post 29.26 EPS for the current year.

Insider Activity

In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction 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 owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,873 shares of company stock worth $14,532,193. Insiders own 0.12% of the company’s stock.

Institutional Trading of KLA

A number of hedge funds have recently modified their holdings of the business. Family Firm Inc. acquired a new position in shares of KLA in the second quarter worth $30,000. Cedar Wealth Management LLC increased its stake in shares of KLA by 77.3% in 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. Capital Performance Advisors LLP acquired a new position in shares of KLA in the third quarter worth $38,000. 1620 Investment Advisors Inc. acquired a new position in shares of KLA in the second quarter worth $44,000. Finally, LRI Investments LLC acquired a new position in KLA during the first quarter worth $46,000. 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.