KLA (NASDAQ:KLAC) Stock Rating Upgraded by Wall Street Zen

KLA (NASDAQ:KLAC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

KLAC has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price target on shares of KLA from $238.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Truist Financial set a $225.00 price objective on KLA in a research report on Thursday, October 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $225.00 price objective on shares of KLA in a research note on Wednesday, July 29th. Stifel Nicolaus set a $230.00 target price on KLA and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Susquehanna decreased their target price on KLA from $215.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.35.

KLA Stock Performance

NASDAQ:KLAC opened at $138.49 on Friday. The firm’s fifty day moving average is $174.83 and its 200-day moving average is $181.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.86 and a current ratio of 2.76. KLA has a 52 week low of $107.20 and a 52 week high of $307.37. The firm has a market cap of $180.45 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.13 and a beta of 1.49.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. KLA had a net margin of 36.25% and a return on equity of 89.30%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the company posted $8.47 earnings per share. KLA’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities analysts expect that KLA will post 5.73 earnings per share for the current year.

Insider Activity

In other news, EVP Brian Lorig sold 59,586 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $208.13, for a total value of $12,401,634.18. Following the completion of the sale, the executive vice president directly owned 77,681 shares in the company, valued at $16,167,746.53. This trade represents a 43.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard P. Wallace sold 87,568 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total value of $17,421,653.60. Following the completion of the sale, the chief executive officer directly owned 778,944 shares of the company’s stock, valued at $154,970,908.80. The trade was a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,173 shares of company stock worth $42,201,914 in the last quarter. Company insiders own 79.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in KLA by 928.9% during the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock valued at $4,471,832,000 after purchasing an additional 13,381,153 shares during the last quarter. Bank of New York Mellon Corp bought a new position in KLA during the second quarter worth about $2,522,430,000. Assenagon Asset Management S.A. increased its stake in shares of KLA by 239.3% in the third quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock worth $1,094,530,000 after purchasing an additional 3,959,927 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of KLA by 5.3% in the third quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock worth $997,000,000 after purchasing an additional 256,716 shares in the last quarter. Finally, National Pension Service raised its position in shares of KLA by 899.4% in the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock valued at $1,096,673,000 after purchasing an additional 3,271,158 shares during the period. Institutional investors own 86.65% of the company’s stock.

Key KLA News

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

KLA Company Profile

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company’s products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.