KLA (NASDAQ:KLAC) Price Target Raised to $864.00

KLA (NASDAQ:KLAC) had its price objective raised by investment analysts at The Goldman Sachs Group from $759.00 to $864.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 15.04% from the company’s current price.

Several other research firms have also commented on KLAC. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Morgan Stanley lowered their target price on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. Cantor Fitzgerald increased their target price on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC raised their price target on shares of KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $829.32.

KLA Stock Up 1.2 %

Shares of KLAC stock traded up $8.62 during trading hours on Friday, reaching $751.05. 747,024 shares of the company’s stock were exchanged, compared to its average volume of 1,262,481. The stock has a market cap of $100.46 billion, a PE ratio of 34.54, a PEG ratio of 1.54 and a beta of 1.27. KLA has a 1 year low of $581.70 and a 1 year high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock’s fifty day moving average price is $673.99 and its two-hundred day moving average price is $718.67.

KLA (NASDAQ:KLAC) last posted its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 105.16% and a net margin of 28.92%. Research analysts predict that KLA will post 30.34 EPS for the current year.

Hedge Funds Weigh In On KLA

A number of institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock worth $4,630,424,000 after purchasing an additional 145,317 shares during the last quarter. Mizuho Securities USA LLC raised its stake in KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after purchasing an additional 3,408,617 shares during the last quarter. Geode Capital Management LLC grew its position in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock worth $2,487,971,000 after purchasing an additional 93,743 shares during the last quarter. Van ECK Associates Corp raised its position in shares of KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Finally, Alkeon Capital Management LLC lifted its stake in shares of KLA by 5.5% in the third quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock valued at $732,464,000 after buying an additional 49,470 shares during the period. Institutional investors own 86.65% of the company’s stock.

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.