Primecap Management Co. CA lessened its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,301,519 shares of the semiconductor company's stock after selling 214,170 shares during the period. KLA makes up about 3.0% of Primecap Management Co. CA's portfolio, making the stock its 4th biggest position. Primecap Management Co. CA owned approximately 3.96% of KLA worth $4,105,549,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. acquired a new stake in KLA during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in KLA in the third quarter valued at approximately $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA in the 2nd quarter worth approximately $44,000. LRI Investments LLC purchased a new position in KLA during the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC acquired a new stake in KLA during the 2nd quarter valued at approximately $53,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on KLAC shares. Needham & Company LLC reiterated a "hold" rating on shares of KLA in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price target on KLA from $950.00 to $870.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on KLA from $800.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Evercore ISI lifted their target price on shares of KLA from $800.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Finally, Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $802.90.
Check Out Our Latest Report on KLA
KLA Stock Performance
NASDAQ:KLAC opened at $616.83 on Thursday. The company's 50-day moving average is $717.28 and its two-hundred day moving average is $762.78. The firm has a market capitalization of $82.51 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.30 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 Co. has a 1-year low of $527.11 and a 1-year high of $896.32.
KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.74 earnings per share. Analysts forecast that KLA Co. will post 30.91 EPS for the current year.
KLA Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio is currently 31.05%.
About KLA
(
Free Report)
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.
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