KLA Co. (NASDAQ:KLAC) Expected to Post FY2023 Earnings of $24.89 Per Share

KLA Co. (NASDAQ:KLAC – Get Rating) – KeyCorp reduced their FY2023 earnings per share estimates for KLA in a note issued to investors on Sunday, May 21st. KeyCorp analyst S. Barger now expects that the semiconductor company will earn $24.89 per share for the year, down from their previous estimate of $25.38. The consensus estimate for KLA’s current full-year earnings is $24.93 per share.

KLA (NASDAQ:KLAC – Get Rating) last posted its earnings results on Wednesday, April 26th. The semiconductor company reported $5.49 EPS for the quarter, beating the consensus estimate of $5.30 by $0.19. KLA had a return on equity of 167.59% and a net margin of 33.01%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the business earned $5.13 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.

KLAC has been the subject of several other reports. BNP Paribas cut KLA from an “outperform” rating to a “neutral” rating and set a $435.00 price target for the company. in a research note on Thursday, April 6th. Stifel Nicolaus cut their price target on KLA from $505.00 to $445.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Morgan Stanley boosted their price target on KLA from $318.00 to $422.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. KGI Securities cut KLA from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 1st. Finally, Needham & Company LLC upped their target price on KLA from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $399.26.

KLA Trading Down 1.4 %

Shares of KLAC stock opened at $408.90 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.54 and a debt-to-equity ratio of 2.20. The stock has a market cap of $56.10 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.54 and a beta of 1.37. The stock has a 50 day simple moving average of $385.66 and a 200 day simple moving average of $388.00. KLA has a 1 year low of $250.20 and a 1 year high of $429.46.

Institutional Trading of KLA

A number of large investors have recently bought and sold shares of the business. Pacifica Partners Inc. boosted its holdings in shares of KLA by 31.3% during the fourth quarter. Pacifica Partners Inc. now owns 105 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 25 shares during the period. Veriti Management LLC boosted its holdings in shares of KLA by 1.1% during the fourth quarter. Veriti Management LLC now owns 2,302 shares of the semiconductor company’s stock worth $868,000 after purchasing an additional 25 shares during the period. Savant Capital LLC boosted its holdings in shares of KLA by 2.5% during the fourth quarter. Savant Capital LLC now owns 1,030 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 25 shares during the period. Fort Sheridan Advisors LLC boosted its holdings in shares of KLA by 2.5% during the first quarter. Fort Sheridan Advisors LLC now owns 1,063 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 26 shares during the period. Finally, Avitas Wealth Management LLC boosted its holdings in shares of KLA by 0.9% during the fourth quarter. Avitas Wealth Management LLC now owns 3,061 shares of the semiconductor company’s stock worth $1,154,000 after purchasing an additional 28 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ahmad A. Khan sold 3,831 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $389.55, for a total value of $1,492,366.05. Following the completion of the sale, the insider now directly owns 59,002 shares in the company, valued at $22,984,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other KLA news, insider Ahmad A. Khan sold 1,915 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $405.00, for a total transaction of $775,575.00. Following the completion of the sale, the insider now directly owns 55,172 shares in the company, valued at approximately $22,344,660. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ahmad A. Khan sold 3,831 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $389.55, for a total value of $1,492,366.05. Following the sale, the insider now owns 59,002 shares of the company’s stock, valued at $22,984,229.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,401 shares of company stock worth $15,585,942. Insiders own 0.15% of the company’s stock.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, May 12th. KLA’s payout ratio is 21.21%.

About KLA

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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.