KLA (NASDAQ:KLAC) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of KLA (NASDAQ:KLAC) from an equal weight rating to an overweight rating in a report issued on Monday morning, MarketBeat reports. They currently have $870.00 price objective on the semiconductor company’s stock, up from their previous price objective of $748.00.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of KLA from $700.00 to $760.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Susquehanna lifted their price target on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Stifel Nicolaus increased their price objective on KLA from $800.00 to $825.00 and gave the company a “buy” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their target price on KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $725.00 price target (down from $875.00) on shares of KLA in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $832.17.

KLA Stock Up 0.9 %

Shares of NASDAQ KLAC opened at $679.80 on Monday. KLA has a 12-month low of $609.40 and a 12-month high of $896.32. The stock has a market cap of $90.34 billion, a P/E ratio of 28.59, a PEG ratio of 1.57 and a beta of 1.30. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The business’s fifty day simple moving average is $726.28 and its 200-day simple moving average is $702.34.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, equities analysts predict that KLA will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors 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 dividend yield of 1.00%. The ex-dividend date was Monday, February 24th. KLA’s dividend payout ratio is currently 28.60%.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.12% of the stock is owned by company insiders.

Institutional Trading of KLA

Several hedge funds and other institutional investors have recently made changes to their positions in KLAC. Diversify Advisory Services LLC lifted its position in KLA by 22.7% in the fourth quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 120 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of KLA by 27.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company’s stock valued at $6,161,000 after buying an additional 2,112 shares during the period. Milestone Asset Management LLC purchased a new stake in shares of KLA in the fourth quarter valued at approximately $1,563,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in KLA by 15.2% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 60,834 shares of the semiconductor company’s stock worth $38,326,000 after acquiring an additional 8,028 shares during the period. Finally, Fiduciary Alliance LLC purchased a new position in KLA in the fourth quarter worth $1,190,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.