Wells Fargo & Company Issues Positive Forecast for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its price objective raised by Wells Fargo & Company from $795.00 to $870.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.58% from the stock’s current price.

Several other brokerages have also issued reports on KLAC. TD Cowen cut their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Barclays increased their price objective on KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC upped their price objective on shares of KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $826.42.

KLA Price Performance

Shares of NASDAQ:KLAC traded up $23.57 during midday trading on Friday, reaching $766.00. 446,223 shares of the company were exchanged, compared to its average volume of 1,245,150. The business’s fifty day moving average is $673.99 and its two-hundred day moving average is $718.67. KLA has a one year low of $581.70 and a one year high of $896.32. The stock has a market cap of $102.46 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 105.16% and a net margin of 28.92%. As a group, analysts predict that KLA will post 30.34 earnings per share for the current year.

Hedge Funds Weigh In On KLA

A number of hedge funds have recently modified their holdings of the stock. CVA Family Office LLC raised its position in shares of KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 13 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC grew its stake in KLA by 3.3% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 13 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in KLA by 5.9% in the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company’s stock valued at $160,000 after purchasing an additional 14 shares during the last quarter. Marcum Wealth LLC boosted its holdings in shares of KLA by 4.1% during the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after buying an additional 15 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in KLA by 6.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company’s stock worth $155,000 after buying an additional 15 shares during the period. 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.