KLA (NASDAQ:KLAC) Given New $900.00 Price Target at Evercore ISI

KLA (NASDAQ:KLAC) had its target price upped by equities researchers at Evercore ISI from $800.00 to $900.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s price objective would suggest a potential upside of 14.06% from the company’s current price.

Several other equities analysts also recently commented on KLAC. Susquehanna decreased their target price on KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Friday, April 26th. Jefferies Financial Group assumed coverage on KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective for the company. Wells Fargo & Company raised their price target on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $802.80.

KLA Stock Performance

Shares of KLAC traded up $33.26 during midday trading on Thursday, reaching $789.03. The stock had a trading volume of 821,766 shares, compared to its average volume of 899,253. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The firm has a 50 day simple moving average of $808.41 and a 200-day simple moving average of $713.83. The firm has a market cap of $106.23 billion, a PE ratio of 41.17, a P/E/G ratio of 3.19 and a beta of 1.27. KLA has a one year low of $440.15 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.45. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.40 EPS. As a group, sell-side analysts anticipate that KLA will post 23.3 EPS for the current year.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,905 shares of company stock worth $16,831,966 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of KLA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Financial Advisors LLC bought a new stake in KLA in the 4th quarter worth about $26,000. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the last quarter. DSM Capital Partners LLC bought a new position in shares of KLA in the fourth quarter valued at approximately $28,000. Addison Advisors LLC purchased a new stake in shares of KLA during the fourth quarter valued at approximately $29,000. Finally, Family Firm Inc. bought a new stake in KLA during the second quarter worth $30,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Company Profile

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.