Wells Fargo & Company Increases KLA (NASDAQ:KLAC) Price Target to $950.00

KLA (NASDAQ:KLACGet Free Report) had its target price hoisted by stock analysts at Wells Fargo & Company from $860.00 to $950.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.04% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Friday, April 26th. Stifel Nicolaus lifted their target price on KLA from $685.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America boosted their price objective on KLA from $740.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Morgan Stanley boosted their price objective on KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $747.40.

Read Our Latest Research Report on KLA

KLA Price Performance

KLAC stock opened at $863.31 on Monday. KLA has a 52-week low of $440.15 and a 52-week high of $876.55. The stock’s fifty day simple moving average is $735.27 and its 200-day simple moving average is $666.47. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $116.24 billion, a price-to-earnings ratio of 45.22, a price-to-earnings-growth ratio of 3.95 and a beta of 1.28.

KLA (NASDAQ:KLACGet Free Report) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $5.49 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities research analysts expect that KLA will post 23.3 EPS for the current year.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the completion of the sale, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the completion of the sale, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders sold a total of 33,136 shares of company stock valued at $24,016,781 over the last three months. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On KLA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SRN Advisors LLC boosted its stake in KLA by 5.0% in the first quarter. SRN Advisors LLC now owns 2,585 shares of the semiconductor company’s stock valued at $1,806,000 after acquiring an additional 124 shares during the period. Jackson Wealth Management LLC boosted its stake in KLA by 2.5% in the first quarter. Jackson Wealth Management LLC now owns 22,596 shares of the semiconductor company’s stock valued at $15,785,000 after acquiring an additional 553 shares during the period. EverSource Wealth Advisors LLC boosted its stake in KLA by 10.5% in the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock valued at $535,000 after acquiring an additional 74 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in KLA by 136.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock valued at $214,667,000 after acquiring an additional 178,474 shares during the period. Finally, Cambridge Trust Co. acquired a new position in KLA in the first quarter valued at approximately $5,283,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

About KLA

(Get Free Report)

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.

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Analyst Recommendations for KLA (NASDAQ:KLAC)

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