Morgan Stanley Has Lowered Expectations for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its price target reduced by Morgan Stanley from $746.00 to $703.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Susquehanna cut their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. UBS Group cut their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $812.30.

KLA Stock Performance

Shares of KLA stock opened at $648.34 on Thursday. The stock has a market capitalization of $86.72 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 1.40 and a beta of 1.27. The firm’s fifty day simple moving average is $687.30 and its 200-day simple moving average is $754.27. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. KLA has a 12 month low of $530.07 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.74 earnings per share. As a group, equities analysts forecast that KLA will post 30.63 earnings per share for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.05%. KLA’s payout ratio is 31.05%.

Hedge Funds Weigh In On KLA

Several institutional investors and hedge funds have recently modified their holdings of the company. Mizuho Securities USA LLC lifted its position in KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after buying an additional 3,408,617 shares during the period. International Assets Investment Management LLC grew its stake in KLA by 76,452.4% during the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after buying an additional 301,987 shares during the period. Van ECK Associates Corp boosted its position in KLA by 25.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after purchasing an additional 286,015 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after buying an additional 235,597 shares during the period. Finally, Two Sigma Advisers LP grew its position in KLA by 10,766.7% in the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after acquiring an additional 226,100 shares in the last quarter. Hedge funds and other institutional investors 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.