KLA (NASDAQ:KLAC) Stock Lifted to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of KLA (NASDAQ:KLAC) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also issued reports on KLAC. Susquehanna reduced their price objective on KLA from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. Truist Financial set a $225.00 target price on KLA in a research report on Thursday, October 29th. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 target price on shares of KLA in a research note on Thursday, October 29th. Cantor Fitzgerald set a $240.00 price target on shares of KLA and gave the company an “overweight” rating in a report on Thursday, October 29th. Finally, Zacks Research upgraded shares of KLA from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus target price of $220.35.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $138.49 on Friday. The company has a market cap of $180.45 billion, a PE ratio of 34.62, a P/E/G ratio of 1.13 and a beta of 1.49. KLA has a fifty-two week low of $107.20 and a fifty-two week high of $307.37. The firm has a 50-day simple moving average of $174.83 and a 200 day simple moving average of $181.68. The company has a quick ratio of 1.86, a current ratio of 2.76 and a debt-to-equity ratio of 0.88.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. KLA had a net margin of 36.25% and a return on equity of 89.30%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the company posted $8.47 earnings per share. KLA’s revenue was up 28.9% on a year-over-year basis. On average, sell-side analysts anticipate that KLA will post 5.73 EPS for the current year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.92 annualized dividend and a yield of 0.7%. KLA’s dividend payout ratio is presently 23.00%.

Insider Transactions at KLA

In other KLA news, EVP Brian Lorig sold 59,586 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the transaction, the executive vice president owned 77,681 shares of the company’s stock, valued at approximately $16,167,746.53. This trade represents a 43.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Wallace sold 87,568 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the transaction, the chief executive officer directly owned 778,944 shares in the company, valued at approximately $154,970,908.80. The trade was a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 219,173 shares of company stock valued at $42,201,914 in the last quarter. 79.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KLA

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of KLA by 928.9% during the 2nd quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock valued at $4,471,832,000 after purchasing an additional 13,381,153 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of KLA in the second quarter valued at $2,522,430,000. Assenagon Asset Management S.A. boosted its stake in KLA by 239.3% during the third quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock valued at $1,094,530,000 after buying an additional 3,959,927 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in KLA by 5.3% during the third quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock valued at $997,000,000 after buying an additional 256,716 shares in the last quarter. Finally, National Pension Service grew its holdings in KLA by 899.4% during the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock worth $1,096,673,000 after acquiring an additional 3,271,158 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

More KLA News

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

KLA Company Profile

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company’s products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.