Brokerages Set KLA Co. (NASDAQ:KLAC) Price Target at $802.90

KLA Co. (NASDAQ:KLAC) has been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $802.90.

Several equities analysts recently commented on the stock. Evercore ISI increased their target price on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and raised their price target for the company from $750.00 to $850.00 in a report on Thursday, October 31st. TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cedar Wealth Management LLC increased its stake in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. Family Firm Inc. purchased a new stake in KLA during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of KLA in the third quarter worth about $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA during the second quarter valued at $44,000. Finally, LRI Investments LLC acquired a new position in KLA in the first quarter valued at approximately $45,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLAC opened at $666.03 on Friday. KLA has a 52 week low of $524.03 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The stock has a 50 day moving average price of $731.06 and a two-hundred day moving average price of $765.29. The firm has a market capitalization of $89.09 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.45 and a beta of 1.29.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business posted $5.74 EPS. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities analysts forecast that KLA will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.02%. KLA’s dividend payout ratio is presently 26.48%.

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.