KLA (NASDAQ:KLAC) Price Target Cut to $900.00 by Analysts at Citigroup

KLA (NASDAQ:KLAC) had its price objective reduced by analysts at Citigroup from $960.00 to $900.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 21.91% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Stifel Nicolaus raised their target price on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. 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 research report on Thursday, July 25th. Barclays upped their target price 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. Raymond James raised their price target on KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. upped their price objective on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $812.80.

KLA Stock Down 1.8 %

NASDAQ:KLAC traded down $13.24 during midday trading on Monday, hitting $738.26. 232,388 shares of the company were exchanged, compared to its average volume of 926,979. 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 has a fifty-two week low of $440.15 and a fifty-two week high of $896.32. The company has a market capitalization of $99.40 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. The company has a fifty day simple moving average of $785.10 and a 200 day simple moving average of $753.88.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.40 earnings per share. As a group, equities analysts anticipate that KLA will post 29.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brian Lorig sold 44 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value 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. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is owned by company insiders.

Institutional Trading of KLA

Institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB acquired a new stake in KLA in the 1st quarter valued at $379,678,000. Wellington Management Group LLP raised its holdings in shares of KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after buying an additional 386,810 shares during the period. TD Asset Management Inc lifted its position in KLA by 43.4% during the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock worth $580,008,000 after acquiring an additional 301,848 shares in the last quarter. Van ECK Associates Corp boosted its holdings in KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after acquiring an additional 211,227 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after acquiring an additional 192,849 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.