KLA (NASDAQ:KLAC) Price Target Raised to $800.00 at TD Securities

KLA (NASDAQ:KLAC) had its price target increased by TD Securities from $770.00 to $800.00 in a research report report published on Thursday,Benzinga reports. TD Securities currently has a hold rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen upped their target price on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup decreased their price target on KLA from $910.00 to $800.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Barclays cut their price objective on shares of KLA from $760.00 to $590.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $725.00 target price (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $802.74.

KLA Stock Performance

KLAC opened at $676.31 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The company has a market capitalization of $89.87 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The business has a fifty day simple moving average of $679.94 and a 200 day simple moving average of $683.46. KLA has a 1 year low of $551.33 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $5.26 earnings per share. KLA’s revenue was up 35.5% compared to the same quarter last year. Research analysts expect that KLA will post 31.59 EPS for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s dividend payout ratio (DPR) is currently 28.60%.

KLA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.12% of the stock is currently owned by company insiders.

Institutional Trading of KLA

Several institutional investors have recently added to or reduced their stakes in KLAC. Tortoise Investment Management LLC lifted its position in shares of KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 36 shares during the period. TCTC Holdings LLC acquired a new position in KLA in the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in KLA during the fourth quarter valued at $32,000. Alpine Bank Wealth Management acquired a new stake in KLA during the 1st quarter worth about $35,000. Finally, Olde Wealth Management LLC bought a new position in shares of KLA in the 1st quarter worth about $36,000. 86.65% of the stock is currently owned by institutional investors.

KLA Company Profile

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.