KLA Co. (NASDAQ:KLAC) Receives $802.90 Average Target Price from Analysts

Shares of KLA Co. (NASDAQ:KLAC) have been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $802.90.

Several equities analysts have weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft cut their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Argus raised their target price on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen lowered their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Barclays lowered their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norden Group LLC grew its holdings in KLA by 19.7% during the 1st quarter. Norden Group LLC now owns 468 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 77 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in KLA by 29.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,732 shares of the semiconductor company’s stock worth $6,100,000 after acquiring an additional 1,976 shares during the period. Highland Capital Management LLC acquired a new stake in KLA during the 1st quarter worth $1,521,000. Sei Investments Co. grew its holdings in KLA by 16.0% during the 1st quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after acquiring an additional 10,594 shares during the period. Finally, Abbrea Capital LLC acquired a new stake in KLA during the 1st quarter worth $214,000. Institutional investors own 86.65% of the company’s stock.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $614.46 on Friday. KLA has a 1 year low of $527.11 and a 1 year high of $896.32. The business has a fifty day simple moving average of $722.79 and a 200 day simple moving average of $763.28. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The firm has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating 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 company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $5.74 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that KLA will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 26.48%.

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.