KLA (NASDAQ:KLAC) Price Target Raised to $870.00 at Wells Fargo & Company

KLA (NASDAQ:KLAC) had its price target raised by Wells Fargo & Company from $795.00 to $870.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on the stock. 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 report on Thursday, October 31st. UBS Group upped their target price on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Needham & Company LLC upped their target price on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley decreased their target price 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $829.32.

KLA Stock Down 0.6 %

KLAC stock opened at $738.24 on Friday. The business’s 50-day moving average price is $675.96 and its 200-day moving average price is $716.79. The stock has a market cap of $98.75 billion, a P/E ratio of 33.71, a PEG ratio of 1.54 and a beta of 1.27. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA has a twelve month low of $581.70 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a net margin of 28.92% and a return on equity of 105.16%. On average, equities research analysts forecast that KLA will post 30.34 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 0.92%. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA’s payout ratio is 31.05%.

Institutional Trading of KLA

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock worth $4,630,424,000 after buying an additional 145,317 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares during the period. Geode Capital Management LLC increased its position in shares of KLA by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock valued at $2,487,971,000 after buying an additional 93,743 shares in the last quarter. Van ECK Associates Corp lifted its holdings in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its holdings in KLA by 5.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock worth $732,464,000 after buying an additional 49,470 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.