Wells Fargo Analyst Raises Price Target for KLA NASDAQKLAC

On June 5, 2023, Joseph Quatrochi, a renowned analyst from Wells Fargo, released a report on KLA (NASDAQ:KLAC). He maintained an Overweight rating on the company and raised the price target from $455 to $500. This is a significant increase from the average price target of $428.00, with the highest forecast at $436.00, according to 10 Wall Street analysts. As of now, the current price of KLA stands at $442.99, which falls within the predicted range by the analyst.

KLAC Stock Performance on June 5, 2023: Stable Investment in Semiconductor Industry

On June 5, 2023, KLAC stock opened at 457.55, slightly lower than the previous day’s close of 458.12. Throughout the day, the stock’s price fluctuated between 453.63 and 457.55. The day’s volume was only 101 shares, significantly lower than the average volume of 1,104,769 shares over the past three months. KLAC’s market capitalization remained high at $62.8 billion, and the company’s earnings growth over the past year was impressive, with a growth rate of 63.65%. Looking ahead, analysts predict that KLAC’s earnings growth will slow down to a rate of 5.19% over the next five years. KLAC’s revenue growth over the past year was also impressive, at 33.00%. The company’s P/E ratio was 18.5, indicating that the stock was not overvalued. KLAC was part of the electronic technology sector and the semiconductor industry, and the company’s corporate headquarters were located in Milpitas, California. KLAC’s next reporting date was set for July 27, 2023, and analysts predicted that the company’s earnings per share for this quarter would be $4.86. KLAC’s annual revenue for the previous year was $9.2 billion, and its annual profit was $3.3 billion. The company’s net profit margin was an impressive 36.10%. Overall, KLAC’s stock performance on June 5, 2023, was relatively stable, with little change in price and low trading volume, indicating that it was a solid investment in the semiconductor industry.

KLA Corps Stock Performance and Analyst Predictions for 2023

On June 5, 2023, KLA Corp’s stock performance was closely watched by investors and analysts alike. The company specializes in process control and yield management systems for the semiconductor industry. According to data from CNN Money, the 18 analysts offering 12-month price forecasts for KLA Corp had a median target of $450.00. The current consensus among 21 polled investment analysts was to buy stock in KLA Corp. KLA Corp had reported earnings per share of $4.86 and sales of $2.3 billion for the current quarter. The reporting date for these results was set for July 27, 2023.