KLA (NASDAQ:KLAC) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of KLA (NASDAQ:KLAC) in a report issued on Thursday, Benzinga reports.

Several other research firms have also recently commented on KLAC. JPMorgan Chase & Co. increased their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group raised their price objective on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Argus boosted their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Barclays increased their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Stock Up 1.3 %

NASDAQ:KLAC traded up $8.38 during trading hours on Thursday, hitting $674.61. The stock had a trading volume of 267,977 shares, compared to its average volume of 944,363. The company has a market cap of $90.38 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.27. The business has a 50 day simple moving average of $747.12 and a two-hundred day simple moving average of $762.96. KLA has a 1-year low of $484.33 and a 1-year high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 108.40%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $5.74 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts predict that KLA will post 29.07 EPS for the current year.

Insider Transactions at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock valued at $14,532,193 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On KLA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC grew its holdings 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 in the last quarter. Family Firm Inc. bought a new position in shares of KLA during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in KLA in the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA in the second quarter valued at approximately $44,000. Finally, LRI Investments LLC bought a new stake in shares of KLA during the first quarter worth $45,000. 86.65% of the stock is currently owned by institutional investors.

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.