Cantor Fitzgerald Reaffirms “Neutral” Rating for KLA (NASDAQ:KLAC)

Cantor Fitzgerald restated their neutral rating on shares of KLA (NASDAQ:KLAC) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $950.00 target price on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on KLAC. Susquehanna lowered their target price on KLA from $730.00 to $680.00 and set a neutral rating on the stock in a report on Thursday. StockNews.com downgraded KLA from a buy rating to a hold rating in a report on Wednesday. Evercore ISI started coverage on KLA in a report on Tuesday, April 16th. They issued an outperform rating and a $800.00 target price on the stock. Stifel Nicolaus increased their target price on KLA from $760.00 to $875.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group began coverage on KLA in a research note on Monday, May 13th. They issued a buy rating and a $820.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $806.24.

KLA Trading Up 3.2 %

KLA stock opened at $787.39 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.46. KLA has a one year low of $440.15 and a one year high of $896.32. The stock has a market capitalization of $106.01 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 3.10 and a beta of 1.27. The business’s fifty day moving average is $809.47 and its 200 day moving average is $716.85.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm posted $5.40 earnings per share. KLA’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts predict that KLA will post 29.09 EPS for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a dividend of $1.45 per share. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.74%. KLA’s dividend payout ratio (DPR) is 30.38%.

Insider Activity

In related news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,905 shares of company stock valued at $16,831,966. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KLA

A number of institutional investors and hedge funds have recently modified their holdings of KLAC. Family Firm Inc. acquired a new stake in shares of KLA in the 2nd quarter worth approximately $30,000. Cedar Wealth Management LLC lifted its stake in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of KLA during the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new position in shares of KLA during the 4th quarter worth $28,000. Finally, Addison Advisors LLC purchased a new position in shares of KLA during the 4th quarter worth $29,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.