KLA Co. (NASDAQ:KLAC) Receives $377.11 Average PT from Brokerages

KLA Co. (NASDAQ:KLAC) has been assigned a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $377.11.

KLAC has been the topic of a number of recent research reports. Susquehanna Bancshares upgraded KLA from a “neutral” rating to a “positive” rating and upped their price objective for the company from $380.00 to $475.00 in a research report on Tuesday, September 14th. Zacks Investment Research downgraded KLA from a “buy” rating to a “hold” rating and set a $366.00 price objective on the stock. in a research report on Monday, August 2nd. UBS Group upped their price objective on KLA from $345.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, July 30th. Citigroup upped their price objective on KLA from $380.00 to $398.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, Morgan Stanley increased their price target on KLA from $364.00 to $389.00 and gave the stock an “equal weight” rating in a report on Friday, July 30th.

In related news, CAO Virendra A. Kirloskar sold 204 shares of the firm’s stock in a transaction on Monday, August 9th. The stock was sold at an average price of $352.98, for a total value of $72,007.92. Following the completion of the transaction, the chief accounting officer now owns 297 shares in the company, valued at approximately $104,835.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 420 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $348.16, for a total value of $146,227.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,174 shares of company stock valued at $5,950,888. Company insiders own 0.16% of the company’s stock.

Large investors have recently bought and sold shares of the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of KLA during the 1st quarter valued at about $33,000. Prestige Wealth Management Group LLC grew its position in shares of KLA by 1,022.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 101 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 92 shares during the period. Arkadios Wealth Advisors boosted its holdings in KLA by 175.6% in the 2nd quarter. Arkadios Wealth Advisors now owns 113 shares of the semiconductor company’s stock worth $36,000 after buying an additional 72 shares during the last quarter. MV Capital Management Inc. boosted its holdings in KLA by 1,916.7% in the 2nd quarter. MV Capital Management Inc. now owns 121 shares of the semiconductor company’s stock worth $39,000 after buying an additional 115 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in KLA in the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 85.70% of the company’s stock.

Shares of NASDAQ:KLAC traded up $8.50 during mid-day trading on Monday, reaching $328.91. The stock had a trading volume of 8,554 shares, compared to its average volume of 1,171,984. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $49.99 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. KLA has a 1 year low of $190.21 and a 1 year high of $374.60. The business’s 50 day moving average price is $341.23 and its 200 day moving average price is $327.13.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, July 28th. The semiconductor company reported $4.43 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.44. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.87 billion. KLA had a return on equity of 74.13% and a net margin of 30.04%. Analysts predict that KLA will post 19.3 earnings per share for the current fiscal year.

KLA announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, August 16th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, August 13th. This is a positive change from KLA’s previous quarterly dividend of $0.90. KLA’s dividend payout ratio is currently 28.87%.

KLA Company Profile

KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments; Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection and Other.

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Analyst Recommendations for KLA (NASDAQ:KLAC)

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