Evercore ISI Analysts Give KLA (NASDAQ:KLAC) a $425.00 Price Target

KLA (NASDAQ:KLACGet Rating) received a $425.00 target price from Evercore ISI in a research note issued on Monday, Stock Target Advisor reports. Evercore ISI’s price target would indicate a potential upside of 36.25% from the stock’s previous close.

KLAC has been the topic of several other reports. Stifel Nicolaus raised their price objective on KLA from $450.00 to $505.00 in a research report on Thursday, April 7th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Piper Sandler lowered their target price on KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft lowered their target price on KLA from $475.00 to $425.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. Finally, Wells Fargo & Company lowered their target price on KLA from $500.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $437.00.

NASDAQ:KLAC traded up $1.53 during mid-day trading on Monday, hitting $311.93. The company had a trading volume of 112,233 shares, compared to its average volume of 1,472,215. The business has a fifty day simple moving average of $336.16 and a 200-day simple moving average of $365.84. The company has a current ratio of 2.33, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. KLA has a 1 year low of $287.44 and a 1 year high of $457.12. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.77 and a beta of 1.27.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $5.13 EPS for the quarter, beating the consensus estimate of $4.80 by $0.33. KLA had a return on equity of 78.72% and a net margin of 36.41%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $3.85 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year. As a group, research analysts anticipate that KLA will post 20.9 earnings per share for the current year.

KLA declared that its board has authorized a stock repurchase program on Thursday, June 16th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of KLA stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total transaction of $343,760.40. Following the transaction, the chief financial officer now directly owns 64,257 shares in the company, valued at approximately $21,655,894.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Several institutional investors have recently bought and sold shares of KLAC. Norges Bank purchased a new position in shares of KLA during the 4th quarter valued at $598,653,000. C2C Wealth Management LLC acquired a new stake in shares of KLA in the 4th quarter valued at $401,488,000. 1832 Asset Management L.P. lifted its stake in shares of KLA by 53,951.8% in the 4th quarter. 1832 Asset Management L.P. now owns 584,300 shares of the semiconductor company’s stock valued at $252,104,000 after purchasing an additional 583,219 shares during the last quarter. Maj Invest Holding A S acquired a new stake in shares of KLA in the 4th quarter valued at $241,793,000. Finally, First Trust Advisors LP lifted its stake in shares of KLA by 128.3% in the 1st quarter. First Trust Advisors LP now owns 921,422 shares of the semiconductor company’s stock valued at $337,296,000 after purchasing an additional 517,870 shares during the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

KLA Company Profile (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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