KLA (NASDAQ:KLAC) Price Target Increased to $760.00 by Analysts at TD Cowen

KLA (NASDAQ:KLAC) had its target price upped by TD Cowen from $700.00 to $760.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm currently has a hold rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on KLAC. Needham & Company LLC restated a hold rating on shares of KLA in a research note on Friday, April 26th. Raymond James upped their price target on KLA from $750.00 to $875.00 and gave the stock an outperform rating in a research note on Friday, June 7th. Morgan Stanley upped their price target on KLA from $692.00 to $698.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Barclays upgraded KLA from an underweight rating to an equal weight rating and upped their price target for the stock from $630.00 to $765.00 in a research note on Wednesday, June 5th. Finally, Stifel Nicolaus increased their target price on KLA from $760.00 to $875.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, KLA currently has an average rating of Moderate Buy and a consensus price target of $806.24.

KLA Stock Performance

KLA stock opened at $787.39 on Thursday. The firm has a market capitalization of $106.01 billion, a P/E ratio of 41.25, a PEG ratio of 3.10 and a beta of 1.27. The stock has a fifty day moving average price of $809.47 and a 200 day moving average price of $716.85. KLA has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 earnings per share. Equities research analysts anticipate that KLA will post 29.09 earnings per share for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, May 14th. KLA’s dividend payout ratio is currently 30.38%.

Insider Activity at KLA

In related news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, EVP Brian Lorig sold 44 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at approximately $66,748,351.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,905 shares of company stock valued at $16,831,966. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in KLA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company’s stock worth $9,159,832,000 after buying an additional 76,226 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after purchasing an additional 386,810 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of KLA by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock worth $1,829,352,000 after purchasing an additional 71,289 shares during the last quarter. Norges Bank bought a new stake in shares of KLA in the 4th quarter worth approximately $1,048,728,000. Finally, Van ECK Associates Corp lifted its holdings in shares of KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after purchasing an additional 211,227 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

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.