KLA (NASDAQ:KLAC) Given New $590.00 Price Target at Barclays

KLA (NASDAQ:KLAC) had its price target cut by analysts at Barclays from $760.00 to $590.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential downside of 6.93% from the stock’s previous close.

Several other research analysts also recently weighed in on KLAC. Needham & Company LLC lifted their target price on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price target on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus dropped their price objective on shares of KLA from $825.00 to $750.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald upped their target price on KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $804.67.

KLA Stock Up 2.1 %

KLA stock traded up $13.12 during midday trading on Tuesday, reaching $633.92. The company’s stock had a trading volume of 172,032 shares, compared to its average volume of 1,056,081. The business has a 50-day simple moving average of $692.54 and a 200-day simple moving average of $688.57. The company has a market cap of $84.24 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.57 and a beta of 1.37. KLA has a fifty-two week low of $551.33 and a fifty-two week high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, research analysts expect that KLA will post 31.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC grew its holdings in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 36 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of KLA during the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new position in KLA in the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock worth $41,000 after buying an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in KLA in the 4th quarter valued at $43,000. Institutional investors own 86.65% of the company’s stock.

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.