Brokerages Set KLA Co. (NASDAQ:KLAC) Price Target at $377.11

Shares of KLA Co. (NASDAQ:KLAC) have earned a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $377.11.

A number of brokerages recently issued reports on KLAC. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $390.00 target price for the company in a research note on Friday, July 30th. Cowen lifted their price objective on KLA from $335.00 to $355.00 and gave the company a “market perform” rating in a research note on Friday, July 30th. Stifel Nicolaus raised their target price on KLA from $380.00 to $403.00 and gave the company a “buy” rating in a research report on Friday, July 30th. UBS Group raised their target price on KLA from $345.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, July 30th. Finally, Susquehanna Bancshares upgraded KLA from a “neutral” rating to a “positive” rating and raised their target price for the company from $380.00 to $475.00 in a research report on Tuesday, September 14th.

In other news, EVP Brian Lorig sold 875 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $348.16, for a total value of $304,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 420 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $348.16, for a total transaction of $146,227.20. The disclosure for this sale can be found here. Insiders sold 17,174 shares of company stock valued at $5,950,888 in the last 90 days. 0.16% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of KLAC. Amundi purchased a new position in KLA during the second quarter worth about $273,227,000. UBS Asset Management Americas Inc. increased its holdings in KLA by 66.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,683,287 shares of the semiconductor company’s stock valued at $556,158,000 after buying an additional 671,773 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in KLA by 12.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,558,166 shares of the semiconductor company’s stock valued at $1,477,803,000 after buying an additional 516,588 shares in the last quarter. Rokos Capital Management LLP purchased a new position in KLA in the first quarter valued at about $108,371,000. Finally, Woodline Partners LP increased its holdings in KLA by 262.8% in the second quarter. Woodline Partners LP now owns 355,878 shares of the semiconductor company’s stock valued at $115,379,000 after buying an additional 257,780 shares in the last quarter. 85.70% of the stock is owned by hedge funds and other institutional investors.

Shares of KLAC traded up $8.50 during midday trading on Monday, hitting $328.91. 8,554 shares of the company’s stock traded hands, 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 firm’s fifty day moving average is $341.23 and its 200-day moving average is $327.13. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $49.99 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 28th. The semiconductor company reported $4.43 EPS for the quarter, beating the consensus estimate of $3.99 by $0.44. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.87 billion. KLA had a return on equity of 74.13% and a net margin of 30.04%. On average, equities research analysts anticipate that KLA will post 19.3 EPS for the current year.

KLA declared that its board has initiated a stock repurchase plan on Thursday, July 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, August 16th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, August 13th. This is an increase from KLA’s previous quarterly dividend of $0.90. KLA’s dividend payout ratio is currently 28.87%.

About KLA

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.

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Analyst Recommendations for KLA (NASDAQ:KLAC)

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