KLA (NASDAQ:KLAC) Receives New Coverage from Analysts at Oppenheimer

Equities researchers at Oppenheimer started coverage on shares of KLA (NASDAQ:KLAC) in a research note issued on Wednesday, MarketBeat Ratings reports. The firm set a “market perform” rating and a $750.00 price target on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential downside of 2.64% from the stock’s current price.

Several other equities research analysts also recently issued reports on KLAC. Barclays lifted their price objective on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Raymond James raised their price objective on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. JPMorgan Chase & Co. raised their price objective on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $809.81.

KLA Trading Up 1.2 %

NASDAQ KLAC opened at $770.34 on Wednesday. The company’s fifty day simple moving average is $769.11 and its 200-day simple moving average is $756.05. The stock has a market cap of $103.72 billion, a P/E ratio of 40.35, a PEG ratio of 1.51 and a beta of 1.28. KLA has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.40 EPS. Equities research analysts predict that KLA will post 29.09 EPS for the current fiscal year.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 105,329 shares in the company, valued at $74,257,998.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is currently owned by insiders.

Institutional Trading of KLA

Several hedge funds have recently bought and sold shares of KLAC. Cedar Wealth Management LLC lifted its position in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. bought a new stake in shares of KLA during the 2nd quarter worth about $30,000. Jones Financial Companies Lllp raised its position in shares of KLA by 2,033.3% during the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of KLA during the 2nd quarter worth about $44,000. Finally, LRI Investments LLC bought a new stake in shares of KLA during the 1st quarter worth about $45,000. 86.65% of the stock is currently owned by institutional investors.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.