TD Cowen Cuts KLA (NASDAQ:KLAC) Price Target to $725.00

KLA (NASDAQ:KLAC) had its price target trimmed by TD Cowen from $760.00 to $725.00 in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on KLAC. UBS Group decreased their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Barclays lifted their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. The Goldman Sachs Group increased their target price on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Argus boosted their price target on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Price Performance

KLA stock opened at $669.38 on Thursday. The company’s 50 day simple moving average is $744.15 and its 200-day simple moving average is $763.38. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.50 and a current ratio of 2.13. KLA has a 1 year low of $484.33 and a 1 year high of $896.32. The company has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the company earned $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts expect that KLA will post 29.26 earnings per share for the current year.

Insider Buying and Selling at KLA

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the sale, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock worth $14,532,193 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. grew its position in KLA by 7.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,035 shares of the semiconductor company’s stock valued at $802,000 after buying an additional 72 shares during the last quarter. Objective Capital Management LLC purchased a new stake in shares of KLA in the third quarter valued at about $368,000. Lindbrook Capital LLC increased its stake in shares of KLA by 7.3% during the third quarter. Lindbrook Capital LLC now owns 2,872 shares of the semiconductor company’s stock worth $2,224,000 after acquiring an additional 195 shares during the period. Bridges Investment Management Inc. raised its holdings in KLA by 1.0% during the third quarter. Bridges Investment Management Inc. now owns 51,698 shares of the semiconductor company’s stock worth $40,035,000 after purchasing an additional 520 shares in the last quarter. Finally, Assetmark Inc. lifted its position in KLA by 3.4% in the third quarter. Assetmark Inc. now owns 118,991 shares of the semiconductor company’s stock valued at $92,148,000 after purchasing an additional 3,934 shares during the period. Institutional investors and hedge funds 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.