KLA (NASDAQ:KLAC) Receives Hold Rating from Needham & Company LLC

KLA (NASDAQ:KLAC)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

A number of other analysts have also weighed in on the company. Barclays increased their price objective on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday. Citigroup decreased their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Argus raised their target price on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $805.29.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $672.23 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The stock has a market cap of $90.51 billion, a PE ratio of 36.35, a PEG ratio of 1.69 and a beta of 1.27. The company’s fifty day moving average is $749.77 and its 200 day moving average is $763.63. KLA has a 52 week low of $453.50 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.74 earnings per share. Research analysts anticipate that KLA will post 29.07 earnings per share for the current year.

Insider Transactions at KLA

In other news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock worth $14,532,193 in the last three months. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Capital Market Strategies LLC boosted its position in KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC lifted its stake in KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares in the last quarter. HBW Advisory Services LLC raised its holdings in shares of KLA by 2.6% during the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 14 shares during the last quarter. TIAA Trust National Association lifted its position in shares of KLA by 0.4% in the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares in the last quarter. Finally, United Community Bank boosted its stake in shares of KLA by 4.0% in the first quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

About KLA

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.