Barclays Cuts KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its price objective reduced by equities research analysts at Barclays from $750.00 to $700.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target would suggest a potential downside of 6.32% from the company’s previous close.

A number of other research firms have also recently issued reports on KLAC. Wells Fargo & Company reduced their target price on shares of KLA from $800.00 to $795.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley reduced their price objective on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research note on Thursday, December 5th. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Needham & Company LLC raised KLA from a “hold” rating to a “buy” rating and set a $750.00 price target for the company in a research report on Monday. Finally, The Goldman Sachs Group decreased their price target on KLA from $850.00 to $759.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $806.60.

KLA Trading Up 4.3 %

NASDAQ KLAC opened at $747.26 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA has a 1-year low of $552.85 and a 1-year high of $896.32. The firm’s fifty day simple moving average is $652.37 and its 200-day simple moving average is $726.49. The company has a market capitalization of $99.95 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.74 EPS. As a group, sell-side analysts anticipate that KLA will post 30.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KLAC. Legacy Investment Solutions LLC bought a new stake in KLA in the 3rd quarter valued at $29,000. Groupama Asset Managment boosted its position in shares of KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 2,038 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in KLA in the third quarter valued at about $38,000. FSA Wealth Management LLC acquired a new position in KLA in the third quarter worth about $53,000. Finally, Peterson Financial Group Inc. bought a new position in KLA during the third quarter worth about $56,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.