KLA (NASDAQ:KLAC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of KLA (NASDAQ:KLAC) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other research analysts have also weighed in on the stock. Barclays dropped their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday. Susquehanna dropped their price objective on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $750.00 to $850.00 in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Citigroup dropped their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Trading Up 0.5 %

Shares of KLAC stock traded up $3.15 during trading hours on Friday, reaching $669.38. 906,447 shares of the stock traded hands, compared to its average volume of 947,503. 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 $762.89. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $89.68 billion, a PE ratio of 30.57, a PEG ratio of 1.75 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings results 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 net margin of 28.92% and a return on equity of 108.40%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business earned $5.74 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts forecast that KLA will post 29.07 EPS for the current year.

Insider Buying and Selling at KLA

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock valued at $14,532,193 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Market Strategies LLC increased its position in KLA by 1.6% in the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 13 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of KLA by 3.7% in 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 last quarter. HBW Advisory Services LLC boosted its stake in shares of KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after purchasing an additional 14 shares during the last quarter. Finally, United Community Bank boosted its stake in shares of KLA by 4.0% in the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 15 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.