KLA (NASDAQ:KLAC) Price Target Raised to $760.00

KLA (NASDAQ:KLAC) had its price target raised by Citigroup from $725.00 to $760.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen upped their price objective on shares of KLA from $650.00 to $700.00 and gave the stock a hold rating in a research report on Friday, April 26th. Morgan Stanley increased their price target on shares of KLA from $692.00 to $698.00 and gave the stock an equal weight rating in a research report on Friday, April 26th. Susquehanna reissued a neutral rating and issued a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. Cantor Fitzgerald upped their target price on KLA from $625.00 to $800.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group raised their target price on KLA from $560.00 to $640.00 and gave the company a buy rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $722.26.

KLA Stock Performance

KLAC opened at $666.04 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. The company has a market capitalization of $89.68 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.34. The business has a fifty day simple moving average of $687.50 and a 200 day simple moving average of $604.86. KLA has a 1 year low of $369.66 and a 1 year high of $729.15.

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. KLA had a net margin of 27.19% and a return on equity of 102.37%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $5.49 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts expect that KLA will post 22.95 EPS for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.87%. KLA’s dividend payout ratio (DPR) is currently 30.38%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Intact Investment Management Inc. grew its position in shares of KLA by 7.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System increased its position in shares of KLA by 5.9% during the fourth quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock valued at $23,059,000 after buying an additional 2,200 shares during the period. Meritage Portfolio Management lifted its holdings in shares of KLA by 6.8% in the fourth quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock worth $15,478,000 after buying an additional 1,692 shares in the last quarter. Chico Wealth RIA boosted its position in shares of KLA by 287.0% in the fourth quarter. Chico Wealth RIA now owns 3,870 shares of the semiconductor company’s stock valued at $2,250,000 after acquiring an additional 2,870 shares during the period. Finally, Crestwood Advisors Group LLC grew its stake in KLA by 48.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 43,484 shares of the semiconductor company’s stock valued at $25,277,000 after acquiring an additional 14,251 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.