Deutsche Bank Aktiengesellschaft Cuts KLA (NASDAQ:KLAC) Price Target to $750.00

KLA (NASDAQ:KLAC) had its price target decreased by Deutsche Bank Aktiengesellschaft from $890.00 to $750.00 in a research report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on KLAC. The Goldman Sachs Group lifted their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna cut their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. UBS Group reduced their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Finally, Argus boosted their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Price Performance

Shares of KLAC stock opened at $669.38 on Thursday. KLA has a twelve month low of $484.33 and a twelve month high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 1.65. The stock has a fifty day simple moving average of $744.15 and a two-hundred day simple moving average of $764.12. The stock has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.67 and a beta of 1.29.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.74 earnings per share. On average, analysts predict that KLA will post 29.26 EPS for the current fiscal year.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KLA

Several institutional investors and hedge funds have recently modified their holdings of KLAC. Swedbank AB lifted its holdings in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after acquiring an additional 2,019 shares during the period. Community Financial Services Group LLC lifted its stake in shares of KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 6,279 shares during the period. Eastern Bank boosted its holdings in KLA by 655.8% during the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after buying an additional 23,747 shares in the last quarter. Norden Group LLC grew its position in KLA by 1,579.3% during the first quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock valued at $4,589,000 after buying an additional 6,175 shares during the period. Finally, Sei Investments Co. increased its holdings in KLA by 16.0% in the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock valued at $53,756,000 after buying an additional 10,594 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Company Profile

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.