TD Cowen Increases KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its target price upped by analysts at TD Cowen from $650.00 to $700.00 in a research note issued to investors on Friday, Briefing.com reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential upside of 4.02% from the company’s previous close.

Other analysts also recently issued research reports about the company. Susquehanna reaffirmed a “neutral” rating and set a $675.00 target price on shares of KLA in a research note on Monday, April 1st. Wells Fargo & Company lifted their price target on KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup lifted their price target on KLA from $700.00 to $725.00 and gave the company a “buy” rating in a research report on Tuesday. Berenberg Bank lifted their price target on KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, UBS Group lifted their price target on KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. One 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. Based on data from MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target of $699.21.

KLA Stock Up 2.5 %

Shares of KLA stock opened at $672.95 on Friday. The business’s fifty day moving average price is $684.51 and its two-hundred day moving average price is $598.13. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.91 and a quick ratio of 1.25. The company has a market capitalization of $91.00 billion, a P/E ratio of 34.18, a PEG ratio of 3.27 and a beta of 1.34. KLA has a 1-year low of $355.88 and a 1-year high of $729.15.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share for the quarter, beating the consensus estimate of $5.91 by $0.25. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. KLA had a return on equity of 107.56% and a net margin of 27.98%. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.38 EPS. As a group, research analysts forecast that KLA will post 22.61 EPS for the current year.

Insider Activity

In other news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction 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 transaction, the executive vice president now owns 16,922 shares in the company, valued at $11,809,017.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the sale, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction on 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 disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of KLA

A number of institutional investors have recently bought and sold shares of KLAC. Exchange Traded Concepts LLC boosted its position in KLA by 63.0% during the third quarter. Exchange Traded Concepts LLC now owns 2,945 shares of the semiconductor company’s stock valued at $1,351,000 after purchasing an additional 1,138 shares during the last quarter. Private Trust Co. NA lifted its position in shares of KLA by 6.5% in the third quarter. Private Trust Co. NA now owns 594 shares of the semiconductor company’s stock worth $272,000 after buying an additional 36 shares during the last quarter. UMB Bank n.a. lifted its position in shares of KLA by 2.7% in the third quarter. UMB Bank n.a. now owns 2,092 shares of the semiconductor company’s stock worth $960,000 after buying an additional 55 shares during the last quarter. Oak Thistle LLC lifted its position in shares of KLA by 42.4% in the third quarter. Oak Thistle LLC now owns 1,225 shares of the semiconductor company’s stock worth $562,000 after buying an additional 365 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of KLA by 2.0% in the third quarter. Handelsbanken Fonder AB now owns 45,325 shares of the semiconductor company’s stock worth $20,789,000 after buying an additional 882 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.