KLA (NASDAQ:KLAC) Stock Price Expected to Rise, TD Cowen Analyst Says

KLA (NASDAQ:KLAC) had its target price hoisted by TD Cowen from $770.00 to $800.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on KLAC. The Goldman Sachs Group upped their price target on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Cantor Fitzgerald upped their target price on KLA from $800.00 to $875.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC lifted their price target on shares of KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Susquehanna boosted their price target on shares of KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $725.00 price objective (down from $875.00) on shares of KLA in a report on Friday, March 28th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and an average price target of $802.74.

KLA Trading Up 3.2 %

KLA stock opened at $698.16 on Thursday. The firm has a market cap of $92.78 billion, a PE ratio of 29.36, a P/E/G ratio of 1.57 and a beta of 1.37. KLA has a 12 month low of $551.33 and a 12 month high of $896.32. The stock’s 50 day simple moving average is $679.41 and its two-hundred day simple moving average is $683.40. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

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

KLA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

KLA Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 0.97%. KLA’s payout ratio is 28.60%.

Insiders Place Their Bets

In other news, CFO Bren D. Higgins sold 7,008 shares of the 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 completion of the sale, the chief financial officer now owns 28,798 shares of the company’s stock, valued at $20,867,606.76. This represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of KLA in the 4th quarter valued at $1,175,756,000. GAMMA Investing LLC raised its holdings in KLA by 95,141.6% in the 1st quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company’s stock valued at $1,138,221,000 after buying an additional 1,672,589 shares during the period. Parnassus Investments LLC lifted its position in KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock valued at $462,085,000 after buying an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock worth $215,809,000 after buying an additional 342,189 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of KLA by 33.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company’s stock valued at $750,638,000 after acquiring an additional 300,015 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Company Profile

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.