Cantor Fitzgerald Reaffirms “Neutral” Rating for KLA (NASDAQ:KLAC)

KLA (NASDAQ:KLAC)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $925.00 target price on the semiconductor company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 17.91% from the stock’s previous close.

A number of other brokerages have also weighed in on KLAC. Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Barclays lifted their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. TD Cowen boosted their target price on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their price target on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $804.81.

KLA Stock Up 0.4 %

KLAC stock traded up $2.81 during trading on Tuesday, reaching $784.48. The stock had a trading volume of 311,512 shares, compared to its average volume of 921,939. 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 company has a market capitalization of $105.62 billion, a price-to-earnings ratio of 41.05, a P/E/G ratio of 1.51 and a beta of 1.27. The company’s 50 day moving average is $768.61 and its two-hundred day moving average is $761.53. KLA has a one year low of $452.01 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business posted $5.40 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that KLA will post 29.09 EPS for the current year.

Insider Buying and Selling at KLA

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock valued at $14,532,193 in the last quarter. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KLA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in KLA during the 2nd quarter valued at approximately $30,000. Cedar Wealth Management LLC raised its holdings in shares of KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of KLA during the 2nd quarter worth approximately $44,000. LRI Investments LLC purchased a new position in KLA during the 1st quarter valued at $46,000. Finally, Olistico Wealth LLC bought a new stake in shares of KLA during the second quarter worth $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

About KLA

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.