Barclays Boosts KLA (NASDAQ:KLAC) Price Target to $630.00

KLA (NASDAQ:KLAC) had its target price increased by Barclays from $550.00 to $630.00 in a report published on Friday, Benzinga reports. Barclays currently has an underweight rating on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus boosted their price target on shares of KLA from $685.00 to $760.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Raymond James boosted their target price on KLA from $550.00 to $625.00 and gave the stock an outperform rating in a report on Friday, January 19th. Evercore ISI initiated coverage on KLA in a report on Tuesday, April 16th. They issued an outperform rating and a $800.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on KLA in a research note on Thursday, April 11th. They set a buy rating and a $800.00 price objective on the stock. Finally, TD Cowen raised their target price on KLA from $650.00 to $700.00 and gave the stock a hold rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, KLA presently has an average rating of Moderate Buy and a consensus price target of $720.42.

KLA Price Performance

Shares of KLA stock opened at $706.26 on Friday. The stock has a market capitalization of $95.51 billion, a P/E ratio of 37.00, a PEG ratio of 3.52 and a beta of 1.34. The business has a 50 day simple moving average of $685.41 and a two-hundred day simple moving average of $601.50. KLA has a 12 month low of $369.00 and a 12 month high of $729.15. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.49 earnings per share. As a group, analysts predict that KLA will post 22.61 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, February 15th. KLA’s dividend payout ratio (DPR) is 30.38%.

Insider Activity

In related news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The stock was 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 owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the sale, the executive vice president now owns 16,922 shares in the company, valued at $11,809,017.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

Several institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC acquired a new position in KLA during the 4th quarter worth $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of KLA during the fourth quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of KLA during the fourth quarter worth approximately $28,000. Addison Advisors LLC acquired a new stake in KLA in the fourth quarter valued at approximately $29,000. Finally, Operose Advisors LLC purchased a new position in KLA in the third quarter worth approximately $26,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.