KLA (NASDAQ:KLAC) Price Target Lowered to $700.00 at Barclays

KLA (NASDAQ:KLAC) had its price target lowered by investment analysts at Barclays from $750.00 to $700.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential downside of 7.59% from the company’s current price.

Several other research firms have also commented on KLAC. Morgan Stanley lowered their price target on KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. The Goldman Sachs Group dropped their target price on KLA from $850.00 to $759.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of KLA from $800.00 to $795.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and a consensus price target of $806.60.

KLA Stock Performance

NASDAQ KLAC opened at $757.47 on Friday. The stock has a market cap of $101.32 billion, a PE ratio of 34.59, a P/E/G ratio of 1.47 and a beta of 1.27. KLA has a twelve month low of $577.00 and a twelve month high of $896.32. The stock has a fifty day simple moving average of $654.99 and a 200-day simple moving average of $725.36. 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 quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $5.74 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities analysts anticipate that KLA will post 30.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cerro Pacific Wealth Advisors LLC raised its stake in KLA by 6.7% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 2,935 shares of the semiconductor company’s stock worth $1,849,000 after acquiring an additional 185 shares in the last quarter. Lifestyle Asset Management Inc. grew its holdings in shares of KLA by 8.7% during the fourth quarter. Lifestyle Asset Management Inc. now owns 386 shares of the semiconductor company’s stock worth $243,000 after purchasing an additional 31 shares during the last quarter. MinichMacGregor Wealth Management LLC increased its position in shares of KLA by 20.0% during the fourth quarter. MinichMacGregor Wealth Management LLC now owns 12,508 shares of the semiconductor company’s stock worth $7,882,000 after purchasing an additional 2,089 shares in the last quarter. Paradiem LLC lifted its holdings in shares of KLA by 33.3% in the 4th quarter. Paradiem LLC now owns 9,905 shares of the semiconductor company’s stock valued at $6,241,000 after purchasing an additional 2,474 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its position in shares of KLA by 25.3% in the 4th quarter. Global Trust Asset Management LLC now owns 749 shares of the semiconductor company’s stock valued at $472,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

About KLA

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.