Morgan Stanley Lowers KLA (NASDAQ:KLAC) Price Target to $375.00

KLA (NASDAQ:KLACGet Rating) had its price objective lowered by investment analysts at Morgan Stanley from $400.00 to $375.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 17.07% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their target price on shares of KLA from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Cowen raised their target price on shares of KLA from $375.00 to $415.00 in a research report on Friday, January 28th. Wells Fargo & Company lowered their price target on shares of KLA from $500.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. Finally, Piper Sandler lifted their price target on shares of KLA from $361.00 to $402.00 and gave the company a “neutral” rating in a research report on Friday, January 28th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $444.60.

Shares of KLAC stock traded down $3.95 on Monday, hitting $320.33. 6,010 shares of the company’s stock traded hands, compared to its average volume of 1,493,451. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.76 and a current ratio of 2.41. KLA has a one year low of $285.89 and a one year high of $457.12. The company’s fifty day simple moving average is $348.27 and its 200 day simple moving average is $377.88. The stock has a market capitalization of $48.28 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.93 and a beta of 1.26.

KLA (NASDAQ:KLACGet Rating) last announced its quarterly earnings results on Thursday, January 27th. The semiconductor company reported $5.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.43 by $0.16. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. KLA had a net margin of 36.57% and a return on equity of 79.07%. The company’s revenue was up 42.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.24 EPS. As a group, sell-side analysts anticipate that KLA will post 20.36 earnings per share for the current fiscal year.

In other KLA news, CFO Bren D. Higgins sold 1,418 shares of KLA stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $355.06, for a total transaction of $503,475.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. KB Financial Partners LLC purchased a new position in shares of KLA in the fourth quarter worth $25,000. D Orazio & Associates Inc. purchased a new position in shares of KLA in the third quarter worth $29,000. Amplius Wealth Advisors LLC purchased a new position in shares of KLA in the fourth quarter worth $30,000. Delos Wealth Advisors LLC lifted its holdings in shares of KLA by 154.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock worth $38,000 after buying an additional 54 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in KLA by 173.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 59 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

About KLA (Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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