Several other brokerages also recently weighed in on KLAC. Wells Fargo & Company cut their target price on KLA from $500.00 to $400.00 and set an overweight rating on the stock in a research note on Monday, April 18th. The Goldman Sachs Group upgraded KLA from a neutral rating to a buy rating and set a $430.00 price target for the company in a research report on Sunday, March 27th. Stifel Nicolaus boosted their price target on KLA from $450.00 to $505.00 in a research report on Thursday, April 7th. StockNews.com lowered KLA from a buy rating to a hold rating in a research report on Tuesday, May 31st. Finally, Barclays reduced their price target on KLA from $400.00 to $365.00 and set an equal weight rating for the company in a research report on Monday, April 25th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA has a consensus rating of Moderate Buy and an average price target of $437.00.
Shares of NASDAQ KLAC opened at $320.66 on Monday. The company has a market cap of $47.85 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.27. KLA has a 12-month low of $287.44 and a 12-month high of $457.12. The company has a current ratio of 2.33, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $335.45 and its 200 day simple moving average is $364.12.
KLA declared that its Board of Directors has approved a share repurchase plan on Thursday, June 16th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 16th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, May 13th. KLA’s payout ratio is 20.39%.
In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total value of $343,760.40. Following the transaction, the chief financial officer now owns 64,257 shares in the company, valued at $21,655,894.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt grew its stake in KLA by 6.3% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 22,456 shares of the semiconductor company’s stock valued at $8,219,000 after purchasing an additional 1,330 shares in the last quarter. Hellman Jordan Management Co. Inc. MA boosted its stake in shares of KLA by 25.5% during the 1st quarter. Hellman Jordan Management Co. Inc. MA now owns 7,442 shares of the semiconductor company’s stock worth $2,724,000 after acquiring an additional 1,512 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of KLA by 37.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 90,753 shares of the semiconductor company’s stock worth $33,221,000 after acquiring an additional 24,558 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of KLA by 6.6% during the 1st quarter. Bank of America Corp DE now owns 1,591,823 shares of the semiconductor company’s stock worth $582,702,000 after acquiring an additional 98,073 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of KLA by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 232,068 shares of the semiconductor company’s stock worth $84,951,000 after acquiring an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.
About KLA (Get Rating)
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
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