Citigroup Lowers KLA (NASDAQ:KLAC) Price Target to $800.00

KLA (NASDAQ:KLAC) had its target price cut by Citigroup from $910.00 to $800.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the stock. Oppenheimer cut their price objective on shares of KLA from $850.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group restated a “hold” rating and issued a $725.00 price target (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Cantor Fitzgerald upped their price objective on KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley raised KLA from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $748.00 to $870.00 in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $818.28.

KLA Stock Up 2.0 %

Shares of KLAC opened at $670.22 on Friday. The firm has a market capitalization of $89.06 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.57 and a beta of 1.37. KLA has a 52 week low of $551.33 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The business’s fifty day moving average price is $705.57 and its two-hundred day moving average price is $694.74.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, analysts predict that KLA will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.01%. KLA’s payout ratio is presently 28.60%.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the transaction, the chief financial officer now owns 28,798 shares of the company’s stock, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is owned by insiders.

Institutional Trading of KLA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tortoise Investment Management LLC grew its stake in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of KLA in the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA during the fourth quarter worth $32,000. Fairfield Financial Advisors LTD increased its holdings in KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock worth $41,000 after buying an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in KLA in the fourth quarter valued at $43,000. 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.