Sunday, September 20, 2020

Cowen slashes price target on KLA Corporation [KLAC] – find out why.

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KLA Corporation [NASDAQ: KLAC] gained 1.50% on the last trading session, reaching $180.76 price per share at the time.

KLA Corporation represents 155.12 million in outstanding shares, while the company has a total market value of $28.30 billion with the latest information. KLAC stock price has been found in the range of $177.33 to $180.94.

If compared to the average trading volume of 1.28M shares, KLAC reached a trading volume of 1441195 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about KLA Corporation [KLAC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KLAC shares is $215.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KLAC stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for KLA Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 04, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $178 to $200. The new note on the price target was released on July 09, 2020, representing the official price target for KLA Corporation stock. Previously, the target price had yet another raise to $191, while Stifel analysts kept a Hold rating on KLAC stock.

The Average True Range (ATR) for KLA Corporation is set at 6.97, with the Price to Sales ratio for KLAC stock in the period of the last 12 months amounting to 4.87. The Price to Book ratio for the last quarter was 10.52, with the Price to Cash per share for the same quarter was set at 12.65. Price to Free Cash Flow for KLAC in the course of the last twelve months was 25.64 with Quick ratio for the last quarter at 2.00.

Trading performance analysis for KLAC stock

KLA Corporation [KLAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.61. With this latest performance, KLAC shares dropped by -14.54% in over the last four-week period, additionally plugging by 20.80% over the last 6 months – not to mention a rise of 19.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KLAC stock in for the last two-week period is set at 39.13, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 41.13 for KLA Corporation [KLAC]. The present Moving Average for the last 50 days of trading for this stock 200.32, while it was recorded at 175.67 for the last single week of trading, and 175.54 for the last 200 days.

KLA Corporation [KLAC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and KLA Corporation [KLAC] shares currently have an operating margin of +30.95 and a Gross Margin at +56.52. KLA Corporation’s Net Margin is presently recorded at +20.97.

Return on Total Capital for KLAC is now 29.08, given the latest momentum, and Return on Invested Capital for the company is 20.21. Return on Equity for this stock inclined to 45.70, with Return on Assets sitting at 13.31. When it comes to the capital structure of this company, KLA Corporation [KLAC] has a Total Debt to Total Equity ratio set at 133.92. Additionally, KLAC Total Debt to Total Capital is recorded at 57.25, with Total Debt to Total Assets ending up at 38.47. Long-Term Debt to Equity for the company is recorded at 132.83, with the Long-Term Debt to Total Capital now at 56.79.

Reflecting on the efficiency of the workforce at the company, KLA Corporation [KLAC] managed to generate an average of $114,791 per employee. Receivables Turnover for the company is 5.06 with a Total Asset Turnover recorded at a value of 0.63.KLA Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.80.

KLA Corporation [KLAC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, KLA Corporation posted 2.48/share EPS, while the average EPS was predicted by analysts to be reported at 2.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KLAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for KLA Corporation go to 9.29%.

An analysis of insider ownership at KLA Corporation [KLAC]

There are presently around $25,578 million, or 92.80% of KLAC stock, in the hands of institutional investors. The top three institutional holders of KLAC stocks are: VANGUARD GROUP INC with ownership of 19,454,169, which is approximately 2.591% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,163,855 shares of the stock with an approximate value of $2.2 billion in KLAC stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $1.81 billion in KLAC stock with ownership of nearly -3.214% of the company’s market capitalization.

Positions in KLA Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 347 institutional holders increased their position in KLA Corporation [NASDAQ:KLAC] by around 9,577,856 shares. Additionally, 373 investors decreased positions by around 9,443,113 shares, while 97 investors held positions by with 122,478,930 shares. The mentioned changes placed institutional holdings at 141,499,899 shares, according to the latest SEC report filing. KLAC stock had 113 new institutional investments in for a total of 1,211,434 shares, while 68 institutional investors sold positions of 1,094,629 shares during the same period.

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