Brokerages Set KLA Co. (NASDAQ:KLAC) Price Target at $310.19

KLA Co. (NASDAQ:KLAC) has been given an average recommendation of “Buy” by the seventeen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $313.00.

A number of equities analysts have issued reports on KLAC shares. KeyCorp reissued a “buy” rating and set a $369.00 price target on shares of KLA in a research report on Thursday. Credit Suisse Group raised their price target on shares of KLA from $325.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of KLA from $360.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday, April 19th. Morgan Stanley raised their price target on shares of KLA from $349.00 to $364.00 and gave the stock an “equal weight” rating in a research report on Monday, May 3rd. Finally, Citigroup raised their price target on shares of KLA from $360.00 to $380.00 in a research report on Monday, April 19th.

In other KLA news, CEO Richard P. Wallace sold 5,000 shares of KLA stock in a transaction on Monday, May 24th. The shares were sold at an average price of $315.00, for a total transaction of $1,575,000.00. Following the sale, the chief executive officer now owns 56,906 shares of the company’s stock, valued at approximately $17,925,390. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Wallace sold 15,000 shares of KLA stock in a transaction on Monday, May 10th. The stock was sold at an average price of $309.95, for a total transaction of $4,649,250.00. Following the sale, the chief executive officer now directly owns 61,906 shares in the company, valued at approximately $19,187,764.70. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KLAC. Price T Rowe Associates Inc. MD boosted its stake in KLA by 98.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,616,488 shares of the semiconductor company’s stock worth $936,345,000 after purchasing an additional 1,794,837 shares during the last quarter. Norges Bank purchased a new position in shares of KLA during the 4th quarter worth $414,484,000. UBS Asset Management Americas Inc. raised its holdings in shares of KLA by 66.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,683,287 shares of the semiconductor company’s stock worth $556,158,000 after acquiring an additional 671,773 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of KLA by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,189,575 shares of the semiconductor company’s stock worth $393,034,000 after acquiring an additional 391,200 shares during the period. Finally, Rokos Capital Management LLP purchased a new position in shares of KLA during the 1st quarter worth $108,371,000. 87.11% of the stock is currently owned by institutional investors.

Shares of KLA stock traded up $0.53 during midday trading on Tuesday, hitting $319.84. The company had a trading volume of 4,725 shares, compared to its average volume of 1,300,800. The stock has a market capitalization of $49.03 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.23. The company has a current ratio of 2.66, a quick ratio of 1.95 and a debt-to-equity ratio of 1.10. The business has a fifty day moving average price of $321.37. KLA has a 12-month low of $171.31 and a 12-month high of $359.69.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, April 29th. The semiconductor company reported $3.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.59 by $0.26. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.74 billion. KLA had a net margin of 28.77% and a return on equity of 69.63%. As a group, sell-side analysts anticipate that KLA will post 14.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Monday, May 17th were paid a $0.90 dividend. The ex-dividend date was Friday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.13%. KLA’s dividend payout ratio is currently 34.78%.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Analyst Recommendations for KLA (NASDAQ:KLAC)

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