CIBC Asset Management Inc Grows Stake in KLA Co. (NASDAQ:KLAC)

CIBC Asset Management Inc raised its position in KLA Co. (NASDAQ:KLAC - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,871 shares of the semiconductor company's stock after buying an additional 2,244 shares during the quarter. CIBC Asset Management Inc's holdings in KLA were worth $32,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KLAC. Cedar Wealth Management LLC boosted its holdings in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock worth $27,000 after buying an additional 17 shares during the period. Family Firm Inc. bought a new position in shares of KLA in the second quarter worth $30,000. Capital Performance Advisors LLP bought a new stake in shares of KLA during the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. purchased a new stake in KLA during the 2nd quarter worth about $44,000. Finally, LRI Investments LLC purchased a new stake in KLA during the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research report on Thursday, October 3rd. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, September 16th. Needham & Company LLC reissued a "hold" rating on shares of KLA in a report on Thursday, October 31st. TD Cowen decreased their price target on shares of KLA from $760.00 to $725.00 and set a "hold" rating on the stock in a report on Thursday, October 31st. Finally, Susquehanna dropped their price objective on KLA from $680.00 to $675.00 and set a "neutral" rating for the company in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $802.90.

KLA Trading Down 4.7 %

KLA stock traded down $30.54 during mid-day trading on Friday, hitting $614.46. The company's stock had a trading volume of 1,712,201 shares, compared to its average volume of 961,993. The business has a 50 day moving average price of $721.02 and a 200-day moving average price of $762.59. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The stock has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. KLA's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.74 EPS. As a group, analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.11%. This is a boost from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio is presently 31.05%.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.