KLA (NASDAQ:KLAC) Shares Gap Down to $745.11

KLA Co. (NASDAQ:KLAC - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $745.11, but opened at $725.78. KLA shares last traded at $732.89, with a volume of 53,490 shares.

Analyst Ratings Changes

KLAC has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $950.00 target price on shares of KLA in a research report on Thursday, July 25th. Stifel Nicolaus increased their target price on shares of KLA from $760.00 to $875.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Barclays boosted their price target on shares of KLA from $765.00 to $800.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Wells Fargo & Company increased their price objective on shares of KLA from $860.00 to $950.00 and gave the company an "overweight" rating in a research note on Monday, June 17th. Finally, Jefferies Financial Group started coverage on shares of KLA in a research report on Monday, May 13th. They set a "buy" rating and a $820.00 target price on the stock. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $805.29.

KLA Trading Down 2.3 %

The company has a market cap of $98.03 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The firm's 50-day moving average price is $800.71 and its 200-day moving average price is $750.45.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $5.40 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, August 15th. KLA's payout ratio is presently 30.38%.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the business's stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company's stock, valued at $11,644,493.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the company's stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,917 shares of company stock valued at $14,568,247. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KLA

Several hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of KLA by 13.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the semiconductor company's stock worth $5,511,000 after purchasing an additional 1,096 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of KLA during the fourth quarter worth approximately $4,559,000. Principal Securities Inc. bought a new stake in shares of KLA in the 4th quarter worth approximately $811,000. APG Asset Management US Inc. purchased a new stake in shares of KLA in the 4th quarter valued at $15,781,000. Finally, Grayhawk Investment Strategies Inc. bought a new position in shares of KLA during the 4th quarter valued at $1,050,000. 86.65% of the stock is currently owned by institutional investors.

KLA Company Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.