KLA (NASDAQ:KLAC) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of KLA (NASDAQ:KLAC - Free Report) from a hold rating to a buy rating in a report issued on Monday, Marketbeat.com reports. Needham & Company LLC currently has $750.00 price target on the semiconductor company's stock.

A number of other brokerages have also recently commented on KLAC. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Susquehanna reduced their price target on shares of KLA from $680.00 to $675.00 and set a "neutral" rating for the company in a research report on Friday, October 11th. Wells Fargo & Company decreased their price objective on shares of KLA from $870.00 to $800.00 and set an "overweight" rating on the stock in a research report on Friday, December 6th. Oppenheimer raised KLA from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their target price on shares of KLA from $850.00 to $759.00 and set a "buy" rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $809.10.

KLA Stock Up 1.2 %

Shares of NASDAQ KLAC traded up $7.93 during midday trading on Monday, hitting $690.99. 1,318,245 shares of the company's stock were exchanged, compared to its average volume of 1,197,661. The firm's fifty day simple moving average is $650.82 and its 200-day simple moving average is $727.43. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market cap of $92.43 billion, a PE ratio of 31.55, a P/E/G ratio of 1.39 and a beta of 1.27. KLA has a twelve month low of $552.85 and a twelve month 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 for the quarter, topping the consensus estimate of $7.03 by $0.30. The business 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 company's revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.74 EPS. Research analysts predict that KLA will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from KLA's previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA's payout ratio is presently 31.05%.

Hedge Funds Weigh In On KLA

A number of institutional investors have recently made changes to their positions in KLAC. Mizuho Securities USA LLC raised its holdings in KLA by 32,828.8% in the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company's stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of KLA by 76,452.4% in the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company's stock worth $234,168,000 after purchasing an additional 301,987 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 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 in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of KLA by 6,188.5% during the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company's stock worth $185,397,000 after purchasing an additional 235,597 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in KLA by 10,766.7% in the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company's stock worth $176,720,000 after purchasing an additional 226,100 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.