KLA (NASDAQ:KLAC) Price Target Cut to $700.00 by Analysts at Barclays

KLA (NASDAQ:KLAC - Free Report) had its target price reduced by Barclays from $750.00 to $700.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company's stock.

A number of other analysts also recently issued reports on the stock. StockNews.com downgraded shares of KLA from a "buy" rating to a "hold" rating in a report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on shares of KLA from $800.00 to $795.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Susquehanna reduced their price objective on shares of KLA from $680.00 to $675.00 and set a "neutral" rating for the company in a research note on Friday, October 11th. The Goldman Sachs Group lowered their target price on KLA from $850.00 to $759.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a "hold" rating for the company in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $806.60.

KLA Stock Up 1.4 %

Shares of KLAC traded up $10.21 on Friday, hitting $757.47. The company's stock had a trading volume of 1,402,515 shares, compared to its average volume of 925,800. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $101.32 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 1.47 and a beta of 1.27. The firm's fifty day moving average price is $654.99 and its 200-day moving average price is $725.36. KLA has a fifty-two week low of $577.00 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 earnings per share. On average, equities research analysts expect that KLA will post 30.37 EPS for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a $1.70 dividend. This is an increase from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.90%. KLA's dividend payout ratio is presently 31.05%.

Institutional Trading of KLA

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company's stock worth $4,630,424,000 after buying an additional 145,317 shares during the period. Mizuho Securities USA LLC increased its position in KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company's stock worth $2,647,708,000 after acquiring an additional 3,408,617 shares during the period. Geode Capital Management LLC raised its stake in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company's stock worth $2,487,971,000 after purchasing an additional 93,743 shares in the last quarter. Van ECK Associates Corp boosted its holdings in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company's stock valued at $1,083,684,000 after purchasing an additional 286,015 shares during the period. Finally, Legal & General Group Plc grew its position in shares of KLA by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company's stock worth $959,695,000 after purchasing an additional 21,412 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Company Profile

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.