Research Analysts Set Expectations for KLA Co.’s FY2023 Earnings (NASDAQ:KLAC)

KLA Co. (NASDAQ:KLAC – Get Rating) – Equities researchers at KeyCorp decreased their FY2023 earnings per share (EPS) estimates for shares of KLA in a report released on Sunday, May 21st. KeyCorp analyst S. Barger now expects that the semiconductor company will earn $24.89 per share for the year, down from their prior estimate of $25.38. The consensus estimate for KLA’s current full-year earnings is $24.88 per share.

Several other brokerages have also recently weighed in on KLAC. Needham & Company LLC raised their price target on shares of KLA from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. JPMorgan Chase & Co. raised their target price on shares of KLA from $410.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. KGI Securities cut shares of KLA from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 1st. Morgan Stanley raised their target price on shares of KLA from $318.00 to $422.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. Finally, BNP Paribas downgraded KLA from an “outperform” rating to a “neutral” rating and set a $435.00 price target for the company. in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, KLA presently has a consensus rating of “Hold” and a consensus price target of $399.26.

KLA Price Performance

Shares of KLAC opened at $434.25 on Wednesday. The stock has a market capitalization of $59.58 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.51 and a beta of 1.37. KLA has a twelve month low of $250.20 and a twelve month high of $436.30. The company has a 50 day moving average of $386.55 and a 200-day moving average of $388.32. The company has a quick ratio of 1.54, a current ratio of 2.35 and a debt-to-equity ratio of 2.20.

KLA (NASDAQ:KLAC – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $5.49 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.19. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.38 billion. KLA had a net margin of 33.01% and a return on equity of 167.59%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $5.13 EPS.

Hedge Funds Weigh In On KLA

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL grew its position in shares of KLA by 1.9% during the 1st quarter. Blair William & Co. IL now owns 22,566 shares of the semiconductor company’s stock worth $8,261,000 after buying an additional 413 shares during the period. Sei Investments Co. grew its position in shares of KLA by 34.9% during the 1st quarter. Sei Investments Co. now owns 80,289 shares of the semiconductor company’s stock worth $29,382,000 after buying an additional 20,773 shares during the period. Prudential PLC grew its position in shares of KLA by 183.1% during the 1st quarter. Prudential PLC now owns 4,374 shares of the semiconductor company’s stock worth $1,601,000 after buying an additional 2,829 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of KLA by 32.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 924 shares of the semiconductor company’s stock worth $338,000 after buying an additional 229 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in shares of KLA by 4.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 50,684 shares of the semiconductor company’s stock worth $18,553,000 after buying an additional 2,151 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KLA

In other KLA news, insider Ahmad A. Khan sold 1,915 shares of KLA stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $405.00, for a total value of $775,575.00. Following the transaction, the insider now owns 55,172 shares in the company, valued at $22,344,660. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Richard P. Wallace sold 4,582 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $384.02, for a total transaction of $1,759,579.64. Following the sale, the chief executive officer now directly owns 136,201 shares in the company, valued at $52,303,908.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ahmad A. Khan sold 1,915 shares of KLA stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $405.00, for a total value of $775,575.00. Following the completion of the transaction, the insider now directly owns 55,172 shares in the company, valued at $22,344,660. The disclosure for this sale can be found here. Insiders have sold a total of 40,401 shares of company stock worth $15,585,942 over the last 90 days. Insiders own 0.15% of the company’s stock.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, May 12th. KLA’s dividend payout ratio is presently 21.21%.

KLA Company Profile

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KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments: Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection, and Other.