KLA (NASDAQ:KLAC) Price Target Raised to $1,809.00

KLA (NASDAQ:KLAC) had its price target increased by Morgan Stanley from $1,751.00 to $1,809.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.12% from the company’s current price.

KLAC has been the subject of several other research reports. Susquehanna reissued a “neutral” rating and set a $1,500.00 price target on shares of KLA in a report on Monday, January 12th. Royal Bank Of Canada increased their price objective on shares of KLA from $1,550.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,750.00 price target on shares of KLA in a research note on Friday, January 30th. Wolfe Research increased their target price on KLA from $1,500.00 to $1,800.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, UBS Group set a $1,575.00 price target on KLA in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,601.04.

KLA Stock Performance

Shares of NASDAQ KLAC traded up $51.29 during midday trading on Wednesday, hitting $1,557.94. 221,359 shares of the company’s stock traded hands, compared to its average volume of 1,170,572. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.00 and a current ratio of 2.83. The stock has a market capitalization of $204.21 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 3.00 and a beta of 1.47. The firm has a fifty day moving average of $1,408.76 and a 200 day moving average of $1,191.57. KLA has a 1 year low of $551.33 and a 1 year high of $1,693.35.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $8.85 EPS for the quarter, beating analysts’ consensus estimates of $8.75 by $0.10. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.25 billion. KLA had a net margin of 35.76% and a return on equity of 98.18%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $8.20 earnings per share. On average, analysts forecast that KLA will post 31.59 earnings per share for the current year.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 2,254 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $1,237.01, for a total value of $2,788,220.54. Following the completion of the transaction, the chief financial officer owned 32,154 shares of the company’s stock, valued at approximately $39,774,819.54. This trade represents a 6.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 91.48% of the company’s stock.

Hedge Funds Weigh In On KLA

Large investors have recently modified their holdings of the stock. Basepoint Wealth LLC bought a new stake in KLA in the fourth quarter worth $32,000. Arlington Trust Co LLC raised its position in KLA by 125.0% in the 3rd quarter. Arlington Trust Co LLC now owns 36 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 20 shares during the period. Triumph Capital Management bought a new stake in KLA in the third quarter worth about $40,000. Hilton Head Capital Partners LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $41,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of KLA during the third quarter valued at approximately $43,000. Institutional investors own 86.65% of the company’s stock.

KLA Company Profile

KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA’s offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.

Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.