JPMorgan Chase & Co. Issues Pessimistic Forecast for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $950.00 to $900.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 28.91% from the stock’s previous close.

Several other brokerages also recently weighed in on KLAC. TD Cowen upped their price objective on KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of KLA from $750.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna lifted their price target on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $800.00 price objective on shares of KLA in a research report on Thursday. Finally, TD Securities raised their target price on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus target price of $802.74.

KLA Stock Up 3.2 %

Shares of NASDAQ KLAC opened at $698.16 on Thursday. The stock has a market capitalization of $92.78 billion, a P/E ratio of 29.36, a PEG ratio of 1.57 and a beta of 1.37. The stock’s fifty day moving average is $679.41 and its 200 day moving average is $683.40. KLA has a 52 week low of $551.33 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business posted $5.26 EPS. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. Sell-side analysts forecast that KLA will post 31.59 earnings per share for the current fiscal year.

KLA announced that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Bren D. Higgins sold 7,008 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares of the company’s stock, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

Several hedge funds and other institutional investors have recently bought and sold shares of KLAC. Hutchens & Kramer Investment Management Group LLC grew its stake in KLA by 3.3% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 13 shares during the period. Richardson Financial Services Inc. grew its position in shares of KLA by 5.9% during the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company’s stock worth $160,000 after buying an additional 14 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of KLA by 6.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company’s stock valued at $155,000 after acquiring an additional 15 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of KLA by 2.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 15 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its position in shares of KLA by 12.0% during the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Company Profile

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.