TD Cowen Issues Pessimistic Forecast for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its price objective reduced by TD Cowen from $760.00 to $725.00 in a research note released on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Argus lifted their price target on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lowered their price target on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $750.00 to $850.00 in a research report on Thursday. Finally, Barclays lifted their price target on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Stock Up 0.5 %

KLA stock opened at $669.38 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.50. The stock has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.67 and a beta of 1.29. KLA has a 1-year low of $484.33 and a 1-year high of $896.32. The business has a fifty day moving average price of $744.15 and a 200-day moving average price of $764.12.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.74 EPS. Equities research analysts forecast that KLA will post 29.26 EPS for the current fiscal year.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On KLA

A number of hedge funds have recently made changes to their positions in KLAC. Norden Group LLC raised its holdings in shares of KLA by 1,579.3% during the first quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock valued at $4,589,000 after acquiring an additional 6,175 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of KLA during the first quarter valued at approximately $218,000. Diversify Advisory Services LLC acquired a new stake in shares of KLA in the first quarter valued at approximately $514,000. Mission Wealth Management LP increased its holdings in shares of KLA by 6.5% in the first quarter. Mission Wealth Management LP now owns 1,080 shares of the semiconductor company’s stock valued at $754,000 after purchasing an additional 66 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in shares of KLA by 5.0% in the first quarter. 1834 Investment Advisors Co. now owns 1,289 shares of the semiconductor company’s stock valued at $900,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.