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Brokerages expect that KLA Co. (NASDAQ:KLAC) will report sales of $2.33 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for KLA’s earnings, with the highest sales estimate coming in at $2.33 billion and the lowest estimate coming in at $2.32 billion. KLA reported sales of $1.65 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 2nd.
On average, analysts expect that KLA will report full-year sales of $9.19 billion for the current year, with estimates ranging from $9.16 billion to $9.20 billion. For the next fiscal year, analysts expect that the company will report sales of $9.40 billion, with estimates ranging from $9.25 billion to $9.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for KLA.
KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.12. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. KLA had a net margin of 36.52% and a return on equity of 75.15%. The business’s revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.03 earnings per share.
Several research firms have weighed in on KLAC. The Goldman Sachs Group boosted their target price on shares of KLA from $378.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. Credit Suisse Group boosted their target price on shares of KLA from $380.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Susquehanna upped their price target on shares of KLA from $475.00 to $490.00 and gave the stock a “positive” rating in a research report on Thursday, October 28th. Bank of America upped their price target on shares of KLA from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, September 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of KLA from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, KLA currently has an average rating of “Buy” and an average price target of $397.00.
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In related news, EVP Mary Beth Wilkinson sold 3,505 shares of the stock in a transaction that occurred on Wednesday, September 22nd. The stock was sold at an average price of $359.13, for a total value of $1,258,750.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bren D. Higgins sold 6,617 shares of the stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $335.92, for a total value of $2,222,782.64. Following the completion of the transaction, the chief financial officer now owns 6,827 shares in the company, valued at approximately $2,293,325.84. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Edge Capital Group LLC boosted its position in KLA by 0.7% during the second quarter. Edge Capital Group LLC now owns 4,530 shares of the semiconductor company’s stock worth $1,469,000 after purchasing an additional 30 shares during the period. International Assets Investment Management LLC boosted its position in shares of KLA by 3.8% in the third quarter. International Assets Investment Management LLC now owns 856 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 31 shares during the period. Independent Advisor Alliance boosted its position in shares of KLA by 2.8% in the third quarter. Independent Advisor Alliance now owns 1,225 shares of the semiconductor company’s stock valued at $410,000 after acquiring an additional 33 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of KLA by 8.6% in the second quarter. C M Bidwell & Associates Ltd. now owns 429 shares of the semiconductor company’s stock valued at $139,000 after acquiring an additional 34 shares during the period. Finally, Advisor Partners LLC boosted its position in shares of KLA by 0.8% in the second quarter. Advisor Partners LLC now owns 4,286 shares of the semiconductor company’s stock valued at $1,390,000 after acquiring an additional 35 shares during the period. 85.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:KLAC opened at $416.73 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.76 and a debt-to-equity ratio of 0.89. KLA has a 12-month low of $223.13 and a 12-month high of $418.40. The company has a fifty day simple moving average of $349.05 and a 200 day simple moving average of $329.32. The firm has a market cap of $63.19 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.23.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Monday, November 15th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, November 12th. This represents a $4.20 annualized dividend and a yield of 1.01%. KLA’s payout ratio is presently 23.78%.
KLA announced that its board has initiated a stock buyback program on Thursday, July 29th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
KLA Company Profile
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.
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