KLA (NASDAQ:KLAC) Given New $760.00 Price Target at Citigroup

KLA (NASDAQ:KLAC) had its price target hoisted by equities research analysts at Citigroup from $725.00 to $760.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 10.26% from the company’s current price.

KLAC has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Cantor Fitzgerald boosted their target price on KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their target price on KLA from $565.00 to $725.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on KLA in a research note on Thursday, April 11th. They issued a “buy” rating and a $800.00 target price on the stock. Finally, Berenberg Bank boosted their target price on KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $722.26.

KLA Stock Performance

Shares of KLA stock opened at $689.29 on Monday. KLA has a one year low of $369.66 and a one year high of $729.15. The firm has a market capitalization of $93.21 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 3.52 and a beta of 1.34. The business has a 50-day simple moving average of $687.21 and a 200 day simple moving average of $604.43. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 EPS. On average, research analysts anticipate that KLA will post 22.61 earnings per share for the current fiscal year.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the transaction, the executive vice president now directly owns 16,922 shares in the company, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Greystone Financial Group LLC boosted its position in KLA by 1.4% during the first quarter. Greystone Financial Group LLC now owns 1,173 shares of the semiconductor company’s stock valued at $819,000 after buying an additional 16 shares during the period. Journey Advisory Group LLC boosted its position in KLA by 3.2% during the fourth quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after buying an additional 16 shares during the period. AdvisorNet Financial Inc boosted its position in KLA by 29.3% during the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 17 shares during the period. West Paces Advisors Inc. boosted its position in KLA by 8.8% during the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 17 shares during the period. Finally, OFI Invest Asset Management boosted its position in KLA by 29.8% during the first quarter. OFI Invest Asset Management now owns 74 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 17 shares during the period. Institutional investors own 86.65% of the company’s stock.

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.