Barclays Cuts KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its price objective reduced by stock analysts at Barclays from $750.00 to $700.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective would indicate a potential downside of 6.32% from the stock’s previous close.

KLAC has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a research report on Monday. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and increased their price target for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. TD Cowen lowered their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective for the company in a report on Monday. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average price target of $806.60.

KLA Trading Up 4.3 %

Shares of KLAC stock opened at $747.26 on Friday. The company has a market capitalization of $99.95 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.47 and a beta of 1.27. KLA has a 12-month low of $552.85 and a 12-month high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average price of $652.37 and a 200 day moving average price of $726.49.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping 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 business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $5.74 EPS. KLA’s revenue was up 18.5% compared to the same quarter last year. Research analysts forecast that KLA will post 30.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB lifted its holdings in shares of KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after purchasing an additional 2,019 shares in the last quarter. Community Financial Services Group LLC lifted its stake in KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after buying an additional 6,279 shares in the last quarter. Eastern Bank boosted its holdings in shares of KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares during the period. ING Groep NV increased its position in shares of KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after acquiring an additional 27,436 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of KLA by 14.1% during the third quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock worth $25,722,000 after acquiring an additional 4,112 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

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.