Investment Management Corp of Ontario Grows Stock Holdings in KLA Co. (NASDAQ:KLAC)

Investment Management Corp of Ontario raised its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 45.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,489 shares of the semiconductor company's stock after purchasing an additional 1,400 shares during the quarter. Investment Management Corp of Ontario's holdings in KLA were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. CVA Family Office LLC increased its holdings in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company's stock worth $283,000 after buying an additional 13 shares during the last quarter. TIAA Trust National Association raised its holdings in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company's stock worth $2,679,000 after purchasing an additional 14 shares during the period. AA Financial Advisors LLC lifted its stake in KLA by 2.7% in the second quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company's stock valued at $467,000 after purchasing an additional 15 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in KLA by 1.2% during the second quarter. Ameritas Advisory Services LLC now owns 1,280 shares of the semiconductor company's stock valued at $1,055,000 after purchasing an additional 15 shares during the period. Finally, Greystone Financial Group LLC increased its position in KLA by 1.3% in the second quarter. Greystone Financial Group LLC now owns 1,188 shares of the semiconductor company's stock worth $980,000 after buying an additional 15 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KLAC shares. TD Cowen cut their price target on KLA from $760.00 to $725.00 and set a "hold" rating for the company in a research note on Thursday, October 31st. Barclays cut their target price on shares of KLA from $800.00 to $750.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research report on Thursday, October 3rd. Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, StockNews.com cut shares of KLA from a "buy" rating to a "hold" rating in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, KLA has an average rating of "Moderate Buy" and an average target price of $815.55.

KLA Price Performance

Shares of KLAC stock traded down $2.35 during trading hours on Wednesday, hitting $663.37. 839,109 shares of the company's stock were exchanged, compared to its average volume of 974,512. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The company has a market capitalization of $88.73 billion, a PE ratio of 30.20, a PEG ratio of 1.40 and a beta of 1.27. The business's 50 day simple moving average is $695.34 and its 200-day simple moving average is $756.63. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

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

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.03%. This is a positive change from KLA's previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA's dividend payout ratio (DPR) is presently 31.05%.

KLA 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.