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

KLA (NASDAQ:KLAC) had its price target cut by TD Cowen from $760.00 to $725.00 in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have a hold rating on the semiconductor company’s stock.

KLAC has been the topic of several other research reports. Susquehanna lowered their target price on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. The Goldman Sachs Group increased their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. UBS Group cut their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company cut their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $802.90.

KLA Stock Up 0.5 %

Shares of NASDAQ KLAC opened at $669.38 on Thursday. The stock has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29. KLA has a 52 week low of $484.33 and a 52 week high of $896.32. The firm has a 50-day moving average price of $744.15 and a 200 day moving average price of $763.38. The company has a quick ratio of 1.50, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $5.74 EPS. Equities research analysts anticipate that KLA will post 29.26 EPS for the current fiscal year.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the transaction, the chief executive officer now 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 document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On KLA

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of KLA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company’s stock valued at $9,159,832,000 after acquiring an additional 76,226 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of KLA by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after purchasing an additional 28,172 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of KLA by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock worth $1,829,352,000 after buying an additional 71,289 shares during the period. Van ECK Associates Corp grew its stake in shares of KLA by 25.7% in the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of KLA by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after buying an additional 21,412 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.