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Morgan Stanley Sticks to Their Buy Rating for KLA (KLAC)

Tipranks - Sat Jun 13, 7:24AM CDT

In a report released today, Shane Brett CFA from Morgan Stanley maintained a Buy rating on KLA, with a price target of $190.00.

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According to TipRanks, Brett CFA is a 5-star analyst with an average return of 71.4% and an 85.29% success rate. Brett CFA covers the Technology sector, focusing on stocks such as Applied Materials, KLA, and Lam Research.

In addition to Morgan Stanley, KLA also received a Buy from Barclays’s Thomas O’Malley in a report issued yesterday. However, on June 9, UBS assigned a Hold rating to KLA (NASDAQ: KLAC).

Based on KLA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.42 billion and a net profit of $1.2 billion. In comparison, last year the company earned a revenue of $3.06 billion and had a net profit of $1.09 billion

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KLAC in relation to earlier this year. Last month, Virendra Kirloskar, the SVP & CAO of KLAC sold 297.00 shares for a total of $558,068.94.

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