KLA (NASDAQ:KLAC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of KLA (NASDAQ:KLAC) from a buy rating to a hold rating in a report published on Wednesday morning.

KLAC has been the subject of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, KLA has an average rating of “Moderate Buy” and an average target price of $815.55.

KLA Stock Performance

Shares of KLA stock opened at $647.03 on Wednesday. The stock has a market cap of $86.55 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. KLA has a 1 year low of $527.11 and a 1 year high of $896.32. The firm’s 50-day moving average is $699.34 and its 200 day moving average is $757.61.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.74 earnings per share. Sell-side analysts anticipate that KLA will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is 31.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KLAC. Capital Market Strategies LLC increased its stake in KLA by 1.6% in the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after buying an additional 13 shares in the last quarter. CVA Family Office LLC raised its stake in KLA by 3.7% during the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 13 shares during the period. HBW Advisory Services LLC lifted its holdings in KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after purchasing an additional 14 shares in the last quarter. TIAA Trust National Association boosted its stake in KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 14 shares during the period. Finally, AA Financial Advisors LLC grew its holdings in KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 15 shares in the last quarter. 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.