KLA (NASDAQ:KLAC) Updates Q4 2022 Earnings Guidance

KLA (NASDAQ:KLACGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.93-$6.03 for the period, compared to the consensus earnings per share estimate of $5.50. The company issued revenue guidance of $2.30 billion-$2.55 billion, compared to the consensus revenue estimate of $2.43 billion.

Shares of KLAC stock opened at $296.26 on Friday. The firm has a market cap of $44.21 billion, a P/E ratio of 14.38, a PEG ratio of 0.84 and a beta of 1.27. KLA has a 1-year low of $287.44 and a 1-year high of $457.12. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.33 and a quick ratio of 1.63. The firm’s 50-day simple moving average is $334.47 and its 200-day simple moving average is $360.54.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.80 by $0.33. KLA had a net margin of 36.41% and a return on equity of 78.72%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $3.85 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. Analysts expect that KLA will post 20.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, May 13th. KLA’s payout ratio is 20.39%.

KLA announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 16th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 12.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of research firms recently issued reports on KLAC. Barclays lowered their target price on KLA from $400.00 to $365.00 and set an equal weight rating on the stock in a report on Monday, April 25th. Wells Fargo & Company reduced their price target on KLA from $500.00 to $400.00 and set an overweight rating for the company in a report on Monday, April 18th. The Goldman Sachs Group upgraded KLA from a neutral rating to a buy rating and set a $430.00 target price for the company in a report on Sunday, March 27th. StockNews.com downgraded KLA from a buy rating to a hold rating in a research report on Tuesday, May 31st. Finally, KeyCorp dropped their price target on KLA from $440.00 to $375.00 and set an overweight rating on the stock in a research report on Friday, June 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $431.50.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total value of $343,760.40. Following the completion of the sale, the chief financial officer now directly owns 64,257 shares in the company, valued at $21,655,894.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of KLAC. Range Financial Group LLC bought a new position in shares of KLA during the first quarter worth about $209,000. Atria Wealth Solutions Inc. acquired a new position in KLA during the first quarter valued at approximately $209,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in KLA by 13.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 579 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 68 shares during the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in KLA during the first quarter valued at approximately $228,000. Finally, Sequoia Financial Advisors LLC boosted its position in KLA by 32.9% during the first quarter. Sequoia Financial Advisors LLC now owns 924 shares of the semiconductor company’s stock valued at $338,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

KLA Company Profile (Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Earnings History and Estimates for KLA (NASDAQ:KLAC)

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