Barclays Lowers KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its price objective cut by stock analysts at Barclays from $750.00 to $700.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target indicates a potential downside of 7.59% from the company’s current price.

A number of other brokerages also recently commented on KLAC. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on shares of KLA from $850.00 to $759.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen dropped their target price on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $806.60.

KLA Trading Up 1.4 %

KLA stock opened at $757.47 on Friday. KLA has a 52 week low of $577.00 and a 52 week high of $896.32. The stock has a 50-day moving average price of $654.99 and a 200 day moving average price of $725.36. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $101.32 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.74 earnings per share. Sell-side analysts anticipate that KLA will post 30.37 EPS for the current year.

Institutional Trading of KLA

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of KLA by 2.5% in the third quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock valued at $4,630,424,000 after purchasing an additional 145,317 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after buying an additional 3,408,617 shares during the last quarter. Geode Capital Management LLC grew its holdings in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock valued at $2,487,971,000 after buying an additional 93,743 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after acquiring an additional 286,015 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of KLA by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock worth $959,695,000 after acquiring an additional 21,412 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.