KLA (NASDAQ:KLAC) Price Target Lowered to $590.00 at Barclays

KLA (NASDAQ:KLAC) had its price target cut by research analysts at Barclays from $760.00 to $590.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target points to a potential downside of 6.93% from the company’s previous close.

Several other research analysts have also recently weighed in on KLAC. Stifel Nicolaus dropped their price target on shares of KLA from $825.00 to $750.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Oppenheimer cut their price objective on KLA from $850.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Needham & Company LLC increased their price objective on shares of KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their target price on shares of KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned 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 $804.67.

KLA Stock Up 2.1 %

Shares of NASDAQ KLAC traded up $13.12 on Tuesday, reaching $633.92. 172,032 shares of the company’s stock traded hands, compared to its average volume of 1,056,081. The business’s 50 day simple moving average is $692.54 and its two-hundred day simple moving average is $688.57. KLA has a 12 month low of $551.33 and a 12 month high of $896.32. The company has a market cap of $84.24 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, equities research analysts forecast that KLA will post 31.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tortoise Investment Management LLC increased its holdings in KLA by 300.0% in the 4th 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 during the last quarter. TCTC Holdings LLC purchased a new stake in shares of KLA in the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in KLA during the 4th quarter valued at about $32,000. Fairfield Financial Advisors LTD lifted its position in shares of 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 purchasing an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in KLA during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors 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.