TD Cowen Boosts KLA (NASDAQ:KLAC) Price Target to $700.00

KLA (NASDAQ:KLAC) had its target price upped by investment analysts at TD Cowen from $650.00 to $700.00 in a note issued to investors on Friday, Briefing.com reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s target price suggests a potential upside of 4.02% from the company’s current price.

A number of other equities analysts also recently commented on KLAC. Susquehanna reissued a “neutral” rating and set a $675.00 price objective on shares of KLA in a research report on Monday, April 1st. Raymond James boosted their target price on KLA from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Citigroup boosted their target price on KLA from $700.00 to $725.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group boosted their target price on KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Finally, Barclays boosted their target price on KLA from $500.00 to $550.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $699.21.

KLA Stock Performance

Shares of KLA stock opened at $672.95 on Friday. KLA has a one year low of $355.88 and a one year high of $729.15. The company has a market cap of $91.00 billion, a PE ratio of 34.18, a P/E/G ratio of 3.27 and a beta of 1.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.25 and a current ratio of 1.91. The business has a 50-day simple moving average of $684.51 and a 200-day simple moving average of $598.13.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, topping analysts’ consensus estimates of $5.91 by $0.25. KLA had a return on equity of 107.56% and a net margin of 27.98%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company posted $7.38 earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, equities research analysts forecast that KLA will post 22.61 EPS for the current fiscal year.

Insider Activity

In other news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KLAC. Norges Bank acquired a new position in KLA during the fourth quarter worth $1,048,728,000. Dakota Wealth Management acquired a new stake in KLA in the first quarter valued at $627,399,000. Alkeon Capital Management LLC grew its holdings in KLA by 52.8% in the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after purchasing an additional 400,000 shares during the last quarter. Wellington Management Group LLP grew its holdings in KLA by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares during the last quarter. 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.