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 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.
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.
Read More: What is the price-sales ratio?
Receive News & Ratings for KLA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA and related companies with MarketBeat.com's FREE daily email newsletter.