KLA (NASDAQ:KLAC) Updates Q3 2024 Earnings Guidance

KLA (NASDAQ:KLAC) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.230-5.430 for the period, compared to the consensus earnings per share estimate of 4.870. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Berenberg Bank increased their target price on KLA from $670.00 to $690.00 and gave the company a buy rating in a research report on Friday, January 26th. Barclays lifted their price target on KLA from $500.00 to $550.00 and gave the stock an underweight rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on KLA from $535.00 to $625.00 and gave the stock a buy rating in a research report on Tuesday, January 16th. Bank of America upped their target price on KLA from $740.00 to $850.00 and gave the stock a buy rating in a research report on Thursday. Finally, UBS Group increased their price target on KLA from $605.00 to $760.00 and gave the stock a neutral rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, KLA presently has an average rating of Hold and a consensus price target of $635.00.

KLA Stock Up 1.0 %

KLAC stock traded up $6.80 during trading hours on Monday, hitting $690.70. The company’s stock had a trading volume of 797,866 shares, compared to its average volume of 1,017,944. The company has a market capitalization of $93.40 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 3.35 and a beta of 1.34. KLA has a 12 month low of $355.88 and a 12 month high of $729.15. The stock has a 50 day moving average price of $638.36 and a two-hundred day moving average price of $556.99. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 1.69.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, topping the consensus estimate of $5.91 by $0.25. KLA had a net margin of 27.98% and a return on equity of 107.56%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company posted $7.38 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. On average, equities research analysts expect that KLA will post 22.82 earnings per share for the current year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Thursday, February 15th. KLA’s dividend payout ratio (DPR) is currently 29.46%.

Hedge Funds Weigh In On KLA

A number of large investors have recently bought and sold shares of KLAC. Bartlett & CO. Wealth Management LLC acquired a new stake in KLA in the fourth quarter valued at $29,000. Cornerstone Planning Group LLC acquired a new stake in shares of KLA in the 2nd quarter valued at about $29,000. Resurgent Financial Advisors LLC bought a new position in KLA in the 4th quarter worth about $25,000. Quarry LP boosted its holdings in KLA by 118.9% during the first quarter. Quarry LP now owns 81 shares of the semiconductor company’s stock worth $32,000 after buying an additional 44 shares in the last quarter. Finally, First Manhattan Co. boosted its stake in shares of KLA by 90.0% during the 4th quarter. First Manhattan Co. now owns 95 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 85.49% of the company’s stock.

About KLA

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.