KLA (NASDAQ:KLAC) Given New $800.00 Price Target at TD Cowen

KLA (NASDAQ:KLAC - Free Report) had its target price increased by TD Cowen from $770.00 to $800.00 in a report released on Thursday morning, Marketbeat.com reports. TD Cowen currently has a hold rating on the semiconductor company's stock.

KLAC has been the topic of several other research reports. Needham & Company LLC upped their price objective on KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Jefferies Financial Group reissued a "hold" rating and set a $725.00 price target (down from $875.00) on shares of KLA in a report on Friday, March 28th. Barclays cut their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Susquehanna increased their target price on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, UBS Group upped their price target on KLA from $665.00 to $780.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $802.74.

KLA Stock Performance

NASDAQ:KLAC traded up $21.85 during midday trading on Thursday, hitting $698.16. The company's stock had a trading volume of 851,841 shares, compared to its average volume of 1,063,117. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA has a fifty-two week low of $551.33 and a fifty-two week high of $896.32. The firm's 50 day moving average is $679.41 and its 200-day moving average is $683.40. The firm has a market cap of $92.78 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.57 and a beta of 1.37.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm's revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.26 earnings per share. Equities analysts anticipate that KLA will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 0.97%. The ex-dividend date was Monday, February 24th. KLA's payout ratio is currently 28.60%.

KLA declared that its board has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company's stock.

Institutional Trading of KLA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tortoise Investment Management LLC lifted its holdings in shares of KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares during the last quarter. TCTC Holdings LLC acquired a new position in KLA during the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA in the fourth quarter valued at $32,000. Alpine Bank Wealth Management purchased a new stake in shares of KLA in the 1st quarter valued at $35,000. Finally, Olde Wealth Management LLC acquired a new position in KLA during the 1st quarter worth about $36,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.