KLA Co. (NASDAQ:KLAC) Given Consensus Rating of “Hold” by Brokerages

Shares of KLA Co. (NASDAQ:KLAC) have been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $455.50.

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on KLA from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Barclays lifted their target price on KLA from $400.00 to $425.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. lifted their target price on KLA from $445.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TD Cowen lifted their target price on KLA from $410.00 to $535.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Finally, Susquehanna lifted their target price on KLA from $490.00 to $560.00 and gave the company a “positive” rating in a research report on Friday, July 28th.

Insider Transactions at KLA

In other news, EVP Brian Lorig sold 2,738 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $500.00, for a total transaction of $1,369,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $10,471,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Bren D. Higgins sold 3,061 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $500.00, for a total value of $1,530,500.00. Following the completion of the sale, the chief financial officer now directly owns 47,818 shares of the company’s stock, valued at approximately $23,909,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 2,738 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $500.00, for a total value of $1,369,000.00. Following the completion of the sale, the executive vice president now directly owns 20,942 shares of the company’s stock, valued at $10,471,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,986 shares of company stock valued at $22,071,950. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of KLA

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwest Capital Management Inc purchased a new stake in KLA during the 2nd quarter valued at approximately $26,000. Cornerstone Planning Group LLC purchased a new stake in KLA during the 2nd quarter valued at approximately $29,000. Resurgent Financial Advisors LLC purchased a new stake in KLA during the 4th quarter valued at approximately $25,000. Quarry LP increased its position in KLA by 118.9% during the 1st quarter. Quarry LP now owns 81 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 44 shares during the period. Finally, Activest Wealth Management acquired a new position in KLA during the 2nd quarter worth approximately $40,000. 85.49% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLA stock opened at $497.73 on Monday. KLA has a one year low of $250.20 and a one year high of $520.19. The company has a market cap of $68.05 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.38 and a beta of 1.35. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.47 and a current ratio of 2.24. The business’s 50 day moving average price is $485.62 and its 200 day moving average price is $435.06.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.58. KLA had a return on equity of 138.06% and a net margin of 32.27%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business posted $5.81 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts predict that KLA will post 22.11 EPS for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $5.20 annualized dividend and a yield of 1.04%. KLA’s payout ratio is 21.59%.

KLA declared that its board has approved a stock buyback program on Tuesday, September 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.