Citigroup Increases KLA (NASDAQ:KLAC) Price Target to $760.00

KLA (NASDAQ:KLAC) had its price target raised by research analysts at Citigroup from $725.00 to $760.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective suggests a potential upside of 7.06% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 target price for the company. UBS Group boosted their price target on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Evercore ISI assumed coverage on shares of KLA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, TD Cowen boosted their price target on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $722.26.

KLA Stock Performance

Shares of KLAC stock traded up $3.62 during mid-day trading on Monday, reaching $709.88. 251,688 shares of the company’s stock traded hands, compared to its average volume of 953,659. KLA has a 12 month low of $369.66 and a 12 month high of $729.15. The firm has a 50 day moving average price of $685.41 and a two-hundred day moving average price of $601.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The firm has a market capitalization of $96.00 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 3.52 and a beta of 1.34.

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

Insider Activity

In related news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In other KLA news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the company’s 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 completion of the transaction, 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. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

Hedge funds and other institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $28,000. Addison Advisors LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $29,000. Finally, Operose Advisors LLC bought a new position in shares of KLA during the third quarter valued at approximately $26,000. 86.65% of the stock is currently owned by institutional investors.

KLA Company Profile

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.