KLA (NASDAQ:KLAC) Sets New 1-Year Low – Here’s What Happened

KLA Co. (NASDAQ:KLAC) hit a new 52-week low during trading on Friday . The stock traded as low as $578.07 and last traded at $583.69, with a volume of 124375 shares. The stock had previously closed at $620.82.

Analyst Upgrades and Downgrades

KLAC has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft raised their target price on KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their price objective on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley upgraded KLA from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $748.00 to $870.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group lifted their price target on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $832.17.

KLA Stock Down 7.1 %

The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The stock has a 50 day simple moving average of $716.60 and a 200-day simple moving average of $699.79. The firm has a market cap of $76.61 billion, a PE ratio of 24.24, a PEG ratio of 1.57 and a beta of 1.37.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Sell-side analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.18%. KLA’s payout ratio is currently 28.60%.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KLAC. Diversify Advisory Services LLC raised its stake in KLA by 22.7% during the 4th quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock valued at $443,000 after buying an additional 120 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in KLA by 27.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company’s stock valued at $6,161,000 after acquiring an additional 2,112 shares during the last quarter. Milestone Asset Management LLC purchased a new position in KLA in the fourth quarter worth about $1,563,000. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of KLA by 15.2% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 60,834 shares of the semiconductor company’s stock valued at $38,326,000 after purchasing an additional 8,028 shares during the period. Finally, Fiduciary Alliance LLC purchased a new stake in shares of KLA during the 4th quarter valued at about $1,190,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

About KLA

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.