Citigroup Issues Pessimistic Forecast for KLA (NASDAQ:KLAC) Stock Price

KLA (NASDAQ:KLAC) had its price target cut by Citigroup from $910.00 to $800.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target points to a potential upside of 19.36% from the stock’s current price.

A number of other brokerages also recently issued reports on KLAC. Morgan Stanley raised KLA from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $748.00 to $870.00 in a research report on Monday, March 31st. UBS Group raised their price target on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Needham & Company LLC boosted their price target on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Stifel Nicolaus increased their price objective on shares of KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $725.00 target price (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $818.28.

KLA Stock Performance

KLAC stock traded up $13.46 during trading hours on Friday, hitting $670.22. 1,361,681 shares of the stock were exchanged, compared to its average volume of 1,052,116. The company has a 50-day simple moving average of $707.15 and a two-hundred day simple moving average of $695.44. The firm has a market capitalization of $89.06 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.57 and a beta of 1.37. KLA has a 12 month low of $551.33 and a 12 month high of $896.32. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, analysts forecast that KLA will post 31.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now owns 28,798 shares of the company’s stock, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KLAC. Tortoise Investment Management LLC increased its stake in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC bought a new stake in KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA during the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD raised its holdings in KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of KLA in the 4th quarter worth approximately $43,000. 86.65% of the stock is owned by institutional investors.

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.