The Goldman Sachs Group Issues Pessimistic Forecast for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its target price decreased by equities researchers at The Goldman Sachs Group from $850.00 to $759.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 11.45% from the company’s current price.

Several other analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a report on Thursday, December 5th. Susquehanna cut their price objective on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Wells Fargo & Company cut their price target on KLA from $870.00 to $800.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Citigroup reduced their price objective on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus price target of $812.47.

KLA Trading Down 0.8 %

KLAC traded down $5.16 during mid-day trading on Friday, hitting $681.04. The stock had a trading volume of 420,720 shares, compared to its average volume of 1,034,587. The stock’s fifty day simple moving average is $649.99 and its 200-day simple moving average is $730.29. The firm has a market capitalization of $91.10 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. KLA has a 1-year low of $549.63 and a 1-year high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company posted $5.74 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, research analysts forecast that KLA will post 30.61 EPS for the current fiscal year.

Hedge Funds Weigh In On KLA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of KLA in the third quarter valued at approximately $29,000. Groupama Asset Managment raised its stake in KLA by 82.3% in the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 2,038 shares during the period. Capital Performance Advisors LLP acquired a new stake in KLA during the 3rd quarter valued at $38,000. FSA Wealth Management LLC bought a new position in KLA during the third quarter worth $53,000. Finally, Peterson Financial Group Inc. bought a new position in KLA during the third quarter worth $56,000. Institutional investors own 86.65% of the company’s stock.

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.