Evercore ISI Analysts Give KLA (NASDAQ:KLAC) a $425.00 Price Target

Evercore ISI set a $425.00 target price on KLA (NASDAQ:KLACGet Rating) in a research report sent to investors on Monday morning, Stock Target Advisor reports.

Several other research firms also recently issued reports on KLAC. Morgan Stanley decreased their price target on KLA from $400.00 to $375.00 and set an equal weight rating for the company in a research note on Monday, April 25th. KeyCorp decreased their target price on KLA from $440.00 to $375.00 and set an overweight rating for the company in a research note on Friday, June 17th. StockNews.com downgraded KLA from a buy rating to a hold rating in a research note on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft decreased their target price on KLA from $475.00 to $425.00 and set a buy rating for the company in a research note on Wednesday, April 13th. Finally, Stifel Nicolaus increased their target price on KLA from $450.00 to $505.00 in a research note on Thursday, April 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $437.00.

Shares of NASDAQ KLAC opened at $320.66 on Monday. The business’s 50-day moving average price is $335.45 and its two-hundred day moving average price is $364.12. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.33 and a quick ratio of 1.63. KLA has a one year low of $287.44 and a one year high of $457.12. The company has a market capitalization of $47.85 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.27.

KLA (NASDAQ:KLACGet Rating) last issued its earnings results on Thursday, April 28th. The semiconductor company reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.80 by $0.33. KLA had a return on equity of 78.72% and a net margin of 36.41%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts anticipate that KLA will post 20.9 EPS for the current year.

KLA declared that its Board of Directors has initiated a share buyback program on Thursday, June 16th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.31%. KLA’s payout ratio is presently 20.39%.

In other news, CFO Bren D. Higgins sold 1,020 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total value of $343,760.40. Following the completion of the transaction, the chief financial officer now directly owns 64,257 shares of the company’s stock, valued at approximately $21,655,894.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amplius Wealth Advisors LLC bought a new stake in KLA during the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC boosted its position in KLA by 154.3% in the 4th quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 54 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in KLA by 173.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 59 shares during the last quarter. Selective Wealth Management Inc. bought a new position in KLA in the 4th quarter valued at $43,000. Finally, Centerpoint Advisors LLC bought a new position in KLA in the 1st quarter valued at $43,000. Institutional investors and hedge funds 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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Analyst Recommendations for KLA (NASDAQ:KLAC)

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