KLA Corporation (NASDAQ:KLAC) Stock Has Average Price Target of $220.35 According to Analysts

Shares of KLA Corporation (NASDAQ:KLAC) have received a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $220.35.

KLAC has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of KLA from $290.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of KLA from $238.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Truist Financial set a $225.00 target price on shares of KLA in a report on Thursday, October 29th. Morgan Stanley reissued an “overweight” rating and set a $220.00 price target on shares of KLA in a research report on Thursday, October 29th. Finally, Weiss Ratings raised KLA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 16th.

Key Stories Impacting KLA

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

KLA Stock Up 6.7%

Shares of KLAC stock opened at $138.49 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.76 and a debt-to-equity ratio of 0.88. KLA has a 12-month low of $107.20 and a 12-month high of $307.37. The firm has a fifty day moving average of $174.83 and a 200-day moving average of $181.68. The company has a market capitalization of $180.45 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 1.25 and a beta of 1.49.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.04 billion. KLA had a net margin of 36.25% and a return on equity of 89.30%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.47 EPS. As a group, equities research analysts predict that KLA will post 5.73 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.23 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. KLA’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling at KLA

In related news, CEO Richard P. Wallace sold 87,568 shares of KLA stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total value of $17,421,653.60. Following the completion of the sale, the chief executive officer owned 778,944 shares of the company’s stock, valued at $154,970,908.80. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Lorig sold 59,586 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the sale, the executive vice president directly owned 77,681 shares of the company’s stock, valued at approximately $16,167,746.53. This trade represents a 43.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 219,173 shares of company stock worth $42,201,914. Corporate insiders own 79.39% of the company’s stock.

Hedge Funds Weigh In On KLA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLAC. Moors & Cabot Inc. increased its stake in KLA by 4.8% in the 3rd quarter. Moors & Cabot Inc. now owns 14,186 shares of the semiconductor company’s stock valued at $2,765,000 after buying an additional 654 shares during the period. Valmark Advisers Inc. boosted its stake in shares of KLA by 5.4% in the 3rd quarter. Valmark Advisers Inc. now owns 9,683 shares of the semiconductor company’s stock valued at $1,887,000 after purchasing an additional 494 shares during the last quarter. Allworth Financial LP grew its stake in KLA by 1.9% in the third quarter. Allworth Financial LP now owns 211,300 shares of the semiconductor company’s stock valued at $41,189,000 after purchasing an additional 3,928 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of KLA by 63.1% during the 3rd quarter. Fisher Asset Management LLC now owns 533,311 shares of the semiconductor company’s stock worth $103,958,000 after acquiring an additional 206,238 shares in the last quarter. Finally, Ariadne Wealth Management LP increased its holdings in KLA by 6.1% in the third quarter. Ariadne Wealth Management LP now owns 5,060 shares of the semiconductor company’s stock worth $986,000 after purchasing an additional 290 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

About KLA

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company’s products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.