TD Cowen Increases KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its price objective increased by TD Cowen from $650.00 to $700.00 in a report issued on Friday, MarketBeat reports. They currently have a hold rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald increased their price objective on KLA from $625.00 to $800.00 and gave the company a neutral rating in a report on Monday, April 8th. Evercore ISI began coverage on KLA in a report on Tuesday, April 16th. They set an outperform rating and a $800.00 price target on the stock. UBS Group boosted their price objective on shares of KLA from $605.00 to $760.00 and gave the stock a neutral rating in a research note on Tuesday, March 5th. Wells Fargo & Company raised their target price on shares of KLA from $760.00 to $805.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Finally, Barclays lifted their target price on shares of KLA from $500.00 to $550.00 and gave the stock an underweight rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $720.42.

KLA Price Performance

Shares of KLAC opened at $706.26 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.25 and a current ratio of 1.91. The firm has a market cap of $95.51 billion, a PE ratio of 37.00, a PEG ratio of 3.52 and a beta of 1.34. KLA has a twelve month low of $369.00 and a twelve month high of $729.15. The firm’s 50 day moving average price is $685.41 and its 200 day moving average price is $601.50.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 103.31%. KLA’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.49 EPS. As a group, research analysts expect that KLA will post 22.61 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Thursday, February 15th. KLA’s payout ratio is 30.38%.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares in the company, valued at approximately $22,825,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the sale, the executive vice president now owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the transaction, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at $22,825,670. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Institutional Trading of KLA

Large investors have recently added to or reduced their stakes in the company. Greystone Financial Group LLC boosted its holdings in shares of KLA by 1.4% in the 1st quarter. Greystone Financial Group LLC now owns 1,173 shares of the semiconductor company’s stock worth $819,000 after acquiring an additional 16 shares in the last quarter. Journey Advisory Group LLC boosted its stake in KLA by 3.2% in the fourth quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock worth $301,000 after purchasing an additional 16 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of KLA by 29.3% during the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 17 shares during the last quarter. West Paces Advisors Inc. increased its stake in shares of KLA by 8.8% in the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 17 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of KLA by 4.6% in the first quarter. Global Retirement Partners LLC now owns 435 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 19 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Company Profile

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.