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

KLA (NASDAQ:KLAC - Free Report) had its price objective increased by Citigroup from $725.00 to $760.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

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. Wells Fargo & Company increased their price objective on shares of KLA from $760.00 to $805.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Susquehanna reiterated a neutral rating and issued a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. Barclays increased their price objective on shares of KLA from $550.00 to $630.00 and gave the stock an underweight rating in a research note on Friday. Finally, Bank of America increased their price objective on shares of KLA from $740.00 to $850.00 and gave the stock a buy rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $722.26.

KLA Stock Performance

KLA stock traded up $7.67 during mid-day trading on Monday, reaching $713.93. 899,744 shares of the company traded hands, compared to its average volume of 961,630. 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 has a fifty-two week low of $369.66 and a fifty-two week high of $729.15. The company has a market capitalization of $96.54 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 3.52 and a beta of 1.34. The firm's fifty day moving average is $686.46 and its two-hundred day moving average is $603.00.

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

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, February 15th. KLA's payout ratio is 30.38%.

Insider Buying and Selling at KLA

In other news, EVP Oreste Donzella sold 3,257 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,922 shares of the company's stock, valued at $11,809,017.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Bren D. Higgins sold 7,018 shares of the firm's stock in a transaction dated 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 directly 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 accessible through this link. Also, EVP Oreste Donzella sold 3,257 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction 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 $11,809,017.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

Hedge Funds Weigh In On KLA

Several hedge funds and other institutional investors have recently modified their holdings of KLAC. FAS Wealth Partners Inc. increased its position in KLA by 2.7% during the first quarter. FAS Wealth Partners Inc. now owns 769 shares of the semiconductor company's stock worth $537,000 after purchasing an additional 20 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in KLA during the first quarter worth about $266,000. Sierra Capital LLC acquired a new stake in KLA during the first quarter worth about $262,000. RWA Wealth Partners LLC increased its position in KLA by 0.3% during the first quarter. RWA Wealth Partners LLC now owns 19,596 shares of the semiconductor company's stock worth $13,689,000 after purchasing an additional 52 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in KLA by 9.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,290 shares of the semiconductor company's stock worth $5,791,000 after purchasing an additional 722 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

About KLA

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.