Brokerages Set KLA Co. (NASDAQ:KLAC) PT at $802.74

Shares of KLA Co. (NASDAQ:KLAC) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $802.74.

A number of brokerages recently commented on KLAC. TD Cowen boosted their target price on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and set a $830.00 price objective on shares of KLA in a report on Thursday, May 1st. Oppenheimer increased their target price on KLA from $700.00 to $740.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Morgan Stanley reduced their price objective on shares of KLA from $870.00 to $868.00 and set an “overweight” rating for the company in a report on Thursday, May 1st.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred 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 owns 28,798 shares of the company’s stock, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of KLA

A number of large investors have recently bought and sold shares of KLAC. Tortoise Investment Management LLC raised its stake in KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in shares of KLA in the fourth quarter worth about $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of KLA in the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management purchased a new stake in shares of KLA during the 1st quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC bought a new position in KLA in the 1st quarter worth approximately $36,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Down 0.7 %

NASDAQ KLAC opened at $693.29 on Friday. The stock has a market capitalization of $92.13 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.57 and a beta of 1.40. The business has a 50 day simple moving average of $678.50 and a 200 day simple moving average of $683.60. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA has a one year low of $551.33 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. KLA’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.26 EPS. Research analysts expect that KLA will post 31.59 earnings per share for the current year.

KLA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.98%. KLA’s payout ratio is currently 24.72%.

KLA announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.