Evercore ISI Analysts Give KLA (NASDAQ:KLAC) a $425.00 Price Target

Evercore ISI set a $425.00 target price on KLA (NASDAQ:KLACGet Rating) in a research report released on Monday, Stock Target Advisor reports.

Several other analysts have also weighed in on the company. Piper Sandler lowered their price objective on KLA from $385.00 to $352.00 and set a neutral rating for the company in a report on Thursday, May 26th. StockNews.com downgraded KLA from a buy rating to a hold rating in a research note on Tuesday, May 31st. Barclays lowered their price objective on shares of KLA from $400.00 to $365.00 and set an equal weight rating on the stock in a research note on Monday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KLA from $475.00 to $425.00 and set a buy rating for the company in a research note on Wednesday, April 13th. Finally, The Goldman Sachs Group raised KLA from a neutral rating to a buy rating and set a $430.00 target price on the stock in a research note on Sunday, March 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KLA has a consensus rating of Moderate Buy and an average target price of $437.00.

Shares of KLAC stock opened at $324.44 on Monday. The firm has a 50-day moving average price of $335.47 and a 200 day moving average price of $364.67. The company has a current ratio of 2.33, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.77 and a beta of 1.27. KLA has a twelve month low of $287.44 and a twelve month high of $457.12.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.80 by $0.33. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.20 billion. KLA had a return on equity of 78.72% and a net margin of 36.41%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the business posted $3.85 EPS. As a group, research analysts predict that KLA will post 20.9 earnings per share for the current year.

KLA declared that its Board of Directors has initiated a share repurchase program on Thursday, June 16th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally 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, June 1st. Investors of record on Monday, May 16th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, May 13th. KLA’s payout ratio is 20.39%.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total transaction of $343,760.40. Following the sale, the chief financial officer now directly owns 64,257 shares of the company’s stock, valued at approximately $21,655,894.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in KLA by 20.4% during the 4th quarter. Van ECK Associates Corp now owns 948,057 shares of the semiconductor company’s stock worth $407,769,000 after purchasing an additional 160,475 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in KLA during the 3rd quarter worth about $2,676,000. MAI Capital Management acquired a new stake in KLA during the 4th quarter worth about $218,000. Palisade Asset Management LLC grew its holdings in KLA by 9.1% during the 4th quarter. Palisade Asset Management LLC now owns 1,500 shares of the semiconductor company’s stock worth $645,000 after acquiring an additional 125 shares during the period. Finally, Miracle Mile Advisors LLC grew its holdings in KLA by 2.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 18,526 shares of the semiconductor company’s stock worth $7,968,000 after acquiring an additional 520 shares during the period. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

About KLA (Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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