Cantor Fitzgerald Lowers KLA (NASDAQ:KLAC) Price Target to $925.00

KLA (NASDAQ:KLAC) had its target price reduced by research analysts at Cantor Fitzgerald from $950.00 to $925.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 22.73% from the stock’s previous close.

A number of other analysts have also recently issued reports on KLAC. Stifel Nicolaus increased their target price on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Raymond James raised their target price on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Susquehanna decreased their price target on shares of KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Evercore ISI raised their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Barclays upped their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $808.62.

KLA Trading Down 2.7 %

Shares of KLAC stock opened at $753.69 on Monday. KLA has a 1-year low of $448.31 and a 1-year high of $896.32. The firm’s 50-day simple moving average is $767.88 and its 200-day simple moving average is $759.14. The firm has a market cap of $101.48 billion, a P/E ratio of 39.48, a PEG ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. KLA’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $5.40 EPS. As a group, equities analysts forecast that KLA will post 29.09 EPS for the current year.

Insider Activity

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of KLA by 41,062.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,201 shares of the semiconductor company’s stock valued at $81,792,000 after buying an additional 98,960 shares during the last quarter. Verity & Verity LLC boosted its position in KLA by 106.3% during the 2nd quarter. Verity & Verity LLC now owns 689 shares of the semiconductor company’s stock worth $568,000 after acquiring an additional 355 shares during the period. Heritage Wealth Management Inc. bought a new position in shares of KLA in the second quarter worth $1,935,000. Sanctuary Advisors LLC acquired a new position in shares of KLA during the second quarter valued at $17,607,000. Finally, Farmers National Bank raised its stake in shares of KLA by 4.2% during the second quarter. Farmers National Bank now owns 422 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 17 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Company Profile

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.