KLA (NASDAQ:KLAC) Shares Gap Down – Time to Sell?

KLA Co. (NASDAQ:KLAC) gapped down prior to trading on Friday . The stock had previously closed at $645.00, but opened at $620.53. KLA shares last traded at $625.53, with a volume of 270,930 shares changing hands.

Analysts Set New Price Targets

KLAC has been the topic of several analyst reports. Citigroup dropped their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Barclays reduced their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. TD Cowen cut their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Finally, Argus boosted their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Price Performance

The business’s 50-day simple moving average is $722.79 and its two-hundred day simple moving average is $763.28. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The firm has a market cap of $83.03 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.74 EPS. As a group, research analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.10%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is presently 26.48%.

Hedge Funds Weigh In On KLA

A number of institutional investors have recently modified their holdings of KLAC. Capital Market Strategies LLC grew its holdings in shares of KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after buying an additional 13 shares during the last quarter. CVA Family Office LLC increased its holdings in KLA by 3.7% during the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 13 shares in the last quarter. HBW Advisory Services LLC boosted its position in shares of KLA by 2.6% during the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares during the last quarter. TIAA Trust National Association raised its position in KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after buying an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC grew its stake in shares of KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 15 shares in the last quarter. 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.