StockNews.com Upgrades KLA (NASDAQ:KLAC) to “Buy”

KLA (NASDAQ:KLAC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other analysts also recently issued reports on KLAC. TD Cowen reduced their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday. Argus upped their price target on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Citigroup reduced their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Evercore ISI lifted their price target on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $669.38 on Friday. The firm has a market cap of $89.68 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.67 and a beta of 1.29. The firm has a fifty day moving average price of $744.15 and a 200 day moving average price of $763.38. KLA has a fifty-two week low of $484.33 and a fifty-two week high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.50 and a current ratio of 2.13.

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

Insider Activity at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the company’s 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 transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock worth $14,532,193 in the last 90 days. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KLA

Hedge funds have recently modified their holdings of the business. Norden Group LLC boosted its position in KLA by 19.7% during the 1st quarter. Norden Group LLC now owns 468 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 77 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in KLA in the first quarter valued at about $218,000. Diversify Advisory Services LLC bought a new position in KLA in the first quarter worth about $514,000. Mission Wealth Management LP lifted its position in shares of KLA by 6.5% during the first quarter. Mission Wealth Management LP now owns 1,080 shares of the semiconductor company’s stock valued at $754,000 after buying an additional 66 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of KLA by 9.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,558 shares of the semiconductor company’s stock valued at $2,486,000 after buying an additional 293 shares in the last quarter. Hedge funds and other 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.