Barclays Cuts KLA (NASDAQ:KLAC) Price Target to $590.00

KLA (NASDAQ:KLAC - Free Report) had its price target reduced by Barclays from $760.00 to $590.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the semiconductor company's stock.

Several other research firms have also recently commented on KLAC. Oppenheimer decreased their target price on KLA from $850.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Morgan Stanley raised shares of KLA from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $748.00 to $870.00 in a research report on Monday, March 31st. Jefferies Financial Group reiterated a "hold" rating and issued a $725.00 price objective (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Needham & Company LLC increased their target price on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group lifted their price target on shares of KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $804.67.

KLA Trading Down 0.4 %

KLA stock traded down $2.86 during mid-day trading on Tuesday, hitting $686.56. 95,639 shares of the stock were exchanged, compared to its average volume of 1,060,149. The stock has a market capitalization of $91.23 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.57 and a beta of 1.37. KLA has a 12 month low of $551.33 and a 12 month high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm's fifty day simple moving average is $686.89 and its two-hundred day simple moving average is $687.36.

KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Analysts forecast that KLA will post 31.59 EPS for the current year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Monday, February 24th. KLA's dividend payout ratio is 28.60%.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company's stock.

Hedge Funds Weigh In On KLA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in KLA in the fourth quarter worth $1,175,756,000. GAMMA Investing LLC raised its stake in shares of KLA by 95,141.6% during the 1st quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after purchasing an additional 1,672,589 shares during the period. Parnassus Investments LLC boosted its holdings in shares of KLA by 381.3% in the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after buying an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after buying an additional 342,189 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in KLA by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock worth $750,638,000 after acquiring an additional 300,015 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

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.