KLA (NASDAQ:KLAC) Stock Rating Reaffirmed by Raymond James

KLA (NASDAQ:KLAC)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a report issued on Friday, Benzinga reports. They currently have a $750.00 price target on the semiconductor company’s stock, up from their previous price target of $625.00. Raymond James’ price objective would suggest a potential upside of 6.19% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company raised their price target on shares of KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup raised their price target on shares of KLA from $700.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Susquehanna reiterated a “neutral” rating and set a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. Evercore ISI started coverage on shares of KLA in a research note on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price objective on the stock. Finally, Berenberg Bank increased their price objective on shares of KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.42.

KLA Price Performance

KLA stock opened at $706.26 on Friday. The firm has a fifty day moving average of $685.41 and a 200-day moving average of $600.67. The firm has a market capitalization of $95.51 billion, a P/E ratio of 37.00, a PEG ratio of 3.52 and a beta of 1.34. KLA has a 52-week low of $369.00 and a 52-week high of $729.15. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 1.69.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 103.31%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $5.49 EPS. As a group, analysts predict that KLA will post 22.61 EPS for the current year.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the transaction, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other KLA news, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the sale, the executive vice president now directly owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the sale, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

A number of institutional investors have recently added to or reduced their stakes in the company. Artemis Wealth Advisors LLC acquired a new stake in KLA in the first quarter worth approximately $3,842,000. Pinnacle Associates Ltd. lifted its position in KLA by 1.2% in the first quarter. Pinnacle Associates Ltd. now owns 12,194 shares of the semiconductor company’s stock worth $8,519,000 after purchasing an additional 149 shares during the period. Highview Capital Management LLC DE acquired a new stake in KLA in the first quarter worth approximately $941,000. SYSTM Wealth Solutions LLC lifted its position in KLA by 2.5% in the first quarter. SYSTM Wealth Solutions LLC now owns 5,938 shares of the semiconductor company’s stock worth $4,148,000 after purchasing an additional 147 shares during the period. Finally, Sumitomo Life Insurance Co. acquired a new stake in KLA in the first quarter worth approximately $4,879,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.