Analysts Set KLA Co. (NASDAQ:KLAC) Price Target at $816.63

Shares of KLA Co. (NASDAQ:KLAC) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $816.63.

Several brokerages have recently weighed in on KLAC. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Barclays dropped their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research report on Thursday, October 31st.

Institutional Investors Weigh In On KLA

Institutional investors have recently modified their holdings of the company. Heritage Family Offices LLP acquired a new stake in KLA in the second quarter valued at $2,419,000. Intact Investment Management Inc. increased its holdings in KLA by 6.2% during the 2nd quarter. Intact Investment Management Inc. now owns 1,540 shares of the semiconductor company’s stock valued at $1,270,000 after acquiring an additional 90 shares in the last quarter. Rothschild Investment LLC acquired a new position in KLA during the second quarter worth about $1,143,000. Commonwealth Equity Services LLC lifted its holdings in shares of KLA by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 32,410 shares of the semiconductor company’s stock valued at $26,723,000 after purchasing an additional 1,080 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its position in shares of KLA by 9.2% in the second quarter. Sage Mountain Advisors LLC now owns 747 shares of the semiconductor company’s stock valued at $616,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock opened at $636.62 on Friday. The company has a market cap of $85.15 billion, a P/E ratio of 29.07, a PEG ratio of 1.39 and a beta of 1.27. The firm has a fifty day moving average price of $649.85 and a 200 day moving average price of $735.93. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA has a 12 month low of $542.41 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.74 EPS. Sell-side analysts predict that KLA will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were given a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio is presently 31.05%.

About KLA

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.