KLA Corporation (NASDAQ:KLAC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of KLA Corporation (NASDAQ:KLAC) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $815.39.

Several research analysts have issued reports on KLAC shares. TD Securities lifted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft cut KLA from a “buy” rating to a “hold” rating and set a $790.00 target price on the stock. in a report on Tuesday, May 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KLA in a report on Tuesday. UBS Group increased their price target on KLA from $690.00 to $740.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Cowen restated a “hold” rating on shares of KLA in a report on Thursday, May 1st.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the transaction, the chief financial officer now owns 27,779 shares of the company’s stock, valued at $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On KLA

A number of institutional investors and hedge funds have recently modified their holdings of the company. MAI Capital Management increased its stake in KLA by 1.0% during the 1st quarter. MAI Capital Management now owns 1,365 shares of the semiconductor company’s stock valued at $928,000 after purchasing an additional 14 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of KLA by 1.2% during the first quarter. Meiji Yasuda Life Insurance Co now owns 1,212 shares of the semiconductor company’s stock valued at $824,000 after buying an additional 14 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of KLA by 12.0% during the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 15 shares in the last quarter. IFC Advisors LLC increased its position in shares of KLA by 4.6% during the first quarter. IFC Advisors LLC now owns 342 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 15 shares in the last quarter. Finally, Trust Investment Advisors raised its holdings in shares of KLA by 1.3% in the 1st quarter. Trust Investment Advisors now owns 1,188 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 15 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Trading Up 1.1%

Shares of NASDAQ:KLAC opened at $902.94 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The company’s 50-day moving average price is $773.81 and its 200 day moving average price is $722.42. The company has a market cap of $119.40 billion, a PE ratio of 32.82, a P/E/G ratio of 1.70 and a beta of 1.40. KLA has a fifty-two week low of $551.33 and a fifty-two week high of $914.83.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating analysts’ consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The company’s revenue was up 35.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.26 earnings per share. Sell-side analysts anticipate that KLA will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a positive change from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 0.84%. KLA’s dividend payout ratio (DPR) is presently 27.63%.

KLA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.