Susquehanna Forecasts Strong Price Appreciation for KLA (NASDAQ:KLAC) Stock

KLA (NASDAQ:KLAC) had its price target lifted by research analysts at Susquehanna from $620.00 to $655.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target would indicate a potential downside of 15.76% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Morgan Stanley reduced their price target 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. UBS Group raised their price objective on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $806.35.

KLA Price Performance

NASDAQ:KLAC traded up $10.28 during mid-day trading on Wednesday, reaching $777.52. 301,480 shares of the stock were exchanged, compared to its average volume of 1,220,398. The business has a fifty day moving average price of $658.87 and a 200 day moving average price of $723.16. The firm has a market capitalization of $104.00 billion, a PE ratio of 35.55, a PEG ratio of 1.63 and a beta of 1.27. KLA has a 1-year low of $581.70 and a 1-year high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company earned $5.74 earnings per share. KLA’s revenue was up 18.5% compared to the same quarter last year. Research analysts expect that KLA will post 30.37 earnings per share for the current fiscal year.

Institutional Trading of KLA

Several hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in KLA in the 3rd quarter valued at $29,000. Groupama Asset Managment boosted its stake in shares of KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,038 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of KLA during the 3rd quarter worth approximately $38,000. FSA Wealth Management LLC bought a new position in shares of KLA in the third quarter valued at about $53,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of KLA in the third quarter valued at approximately $56,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.