KLA’s (KLAC) Outperform Rating Reaffirmed at Raymond James

KLA (NASDAQ:KLAC)‘s stock had its “outperform” rating restated by analysts at Raymond James in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $750.00 target price on the semiconductor company’s stock, up from their prior target price of $625.00. Raymond James’ price objective points to a potential upside of 6.19% from the company’s current price.

KLAC has been the subject of several other research reports. TD Cowen raised their price objective on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Friday. Bank of America raised their price target on shares of KLA from $740.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Barclays raised their price target on shares of KLA from $550.00 to $630.00 and gave the company an “underweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and an average price target of $720.42.

KLA Stock Performance

NASDAQ KLAC opened at $706.26 on Friday. The firm has a market cap of $95.51 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.52 and a beta of 1.34. The company has a 50 day moving average of $685.41 and a 200-day moving average of $600.67. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. KLA has a 1-year low of $369.00 and a 1-year high of $729.15.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.32. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 103.31%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $5.49 earnings per share. On average, equities analysts forecast that KLA will post 22.61 earnings per share for the current fiscal year.

Insider Transactions at KLA

In other news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now directly 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 available at the SEC website. In other news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now directly 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 available at the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction 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 transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

Several institutional investors have recently added to or reduced their stakes in the stock. Greystone Financial Group LLC lifted its position in KLA by 1.4% in the 1st quarter. Greystone Financial Group LLC now owns 1,173 shares of the semiconductor company’s stock valued at $819,000 after acquiring an additional 16 shares in the last quarter. Journey Advisory Group LLC lifted its position in KLA by 3.2% in the 4th quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 16 shares in the last quarter. AdvisorNet Financial Inc lifted its position in KLA by 29.3% in the 4th quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 17 shares in the last quarter. West Paces Advisors Inc. increased its stake in KLA by 8.8% in the 4th 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 during the last quarter. Finally, Global Retirement Partners LLC increased its stake in KLA by 4.6% in the 1st 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.