Cantor Fitzgerald Lowers KLA (NASDAQ:KLAC) Price Target to $925.00

KLA (NASDAQ:KLAC) had its target price trimmed by Cantor Fitzgerald from $950.00 to $925.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the stock. Evercore ISI upped their target price on shares of KLA from $800.00 to $900.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Susquehanna reduced their price objective on KLA from $730.00 to $680.00 and set a neutral rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on KLA from $800.00 to $950.00 and gave the company an overweight rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on KLA from $760.00 to $875.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Finally, UBS Group dropped their price objective on KLA from $900.00 to $765.00 and set a neutral rating for the company in a research note on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, KLA currently has a consensus rating of Moderate Buy and an average price target of $804.81.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $774.56 on Monday. KLA has a 12 month low of $449.35 and a 12 month high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock has a market cap of $104.29 billion, a P/E ratio of 40.57, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a 50 day moving average of $768.54 and a 200 day moving average of $759.37.

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

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.75%. KLA’s dividend payout ratio is currently 30.38%.

Insider Buying and Selling

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the sale, the executive vice president now directly owns 9,298 shares in the company, valued at approximately $6,063,876.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The disclosure for this sale can be found here. Insiders have sold 20,873 shares of company stock worth $14,532,193 in the last 90 days. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

Several large investors have recently bought and sold shares of the business. 9258 Wealth Management LLC purchased a new position in shares of KLA in the 4th quarter worth $210,000. Evoke Wealth LLC purchased a new stake in shares of KLA during the 4th quarter valued at about $243,000. Jones Financial Companies Lllp lifted its stake in shares of KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 61 shares during the period. Spinecap SAS bought a new stake in KLA during the fourth quarter valued at approximately $1,744,000. Finally, CIBC Private Wealth Group LLC raised its position in KLA by 2.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 54,204 shares of the semiconductor company’s stock worth $31,509,000 after acquiring an additional 1,122 shares during the period. 86.65% of the stock is currently owned by 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.