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

Shares of KLA Co. (NASDAQ:KLAC) have been assigned an average recommendation of “Buy” from the eighteen research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $377.11.

Several brokerages have weighed in on KLAC. Susquehanna Bancshares raised shares of KLA from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $380.00 to $475.00 in a report on Tuesday, September 14th. Zacks Investment Research downgraded shares of KLA from a “buy” rating to a “hold” rating and set a $366.00 price target on the stock. in a research report on Monday, August 2nd. Cowen boosted their target price on shares of KLA from $335.00 to $355.00 and gave the stock a “market perform” rating in a report on Friday, July 30th. Citigroup boosted their target price on shares of KLA from $380.00 to $398.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of KLA from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, July 30th.

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

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

KLA announced that its Board of Directors has approved a share repurchase program on Thursday, July 29th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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

In other news, CFO Bren D. Higgins sold 6,617 shares of the firm’s stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $335.92, for a total transaction of $2,222,782.64. Following the completion of the transaction, the chief financial officer now directly owns 6,827 shares of the company’s stock, valued at approximately $2,293,325.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mary Beth Wilkinson sold 3,505 shares of the firm’s stock in a transaction on Wednesday, September 22nd. The shares were sold at an average price of $359.13, for a total transaction of $1,258,750.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,174 shares of company stock worth $5,950,888. Corporate insiders own 0.16% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. New Mexico Educational Retirement Board grew its holdings in shares of KLA by 5.1% during the second quarter. New Mexico Educational Retirement Board now owns 10,280 shares of the semiconductor company’s stock worth $3,333,000 after purchasing an additional 500 shares during the last quarter. Green Harvest Asset Management LLC acquired a new position in KLA in the first quarter valued at approximately $306,000. Sei Investments Co. lifted its stake in KLA by 26.0% in the first quarter. Sei Investments Co. now owns 49,737 shares of the semiconductor company’s stock valued at $16,230,000 after buying an additional 10,278 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of KLA by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,041,578 shares of the semiconductor company’s stock worth $1,335,337,000 after purchasing an additional 425,090 shares during the period. Finally, Bridgewater Associates LP acquired a new position in shares of KLA during the second quarter worth approximately $13,020,000. 85.70% of the stock is owned by institutional investors and hedge funds.

About KLA

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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