KLA Co. (NASDAQ:KLAC) Stake Decreased by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,019 shares of the semiconductor company's stock after selling 786 shares during the quarter. KLA comprises about 2.0% of Logan Capital Management Inc.'s holdings, making the stock its 8th biggest holding. Logan Capital Management Inc.'s holdings in KLA were worth $48,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in KLA in the third quarter valued at $29,000. Family Firm Inc. acquired a new stake in shares of KLA during the second quarter worth about $30,000. Groupama Asset Managment lifted its holdings in shares of KLA by 82.3% in the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 2,038 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in KLA in the third quarter valued at approximately $38,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in KLA in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company dropped their target price on KLA from $870.00 to $800.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. StockNews.com downgraded KLA from a "buy" rating to a "hold" rating in a report on Wednesday, November 27th. Susquehanna dropped their price objective on shares of KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Finally, Barclays reduced 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 note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $812.30.

KLA Price Performance

Shares of KLAC traded up $7.16 during mid-day trading on Friday, reaching $653.76. 1,463,409 shares of the company's stock were exchanged, compared to its average volume of 978,387. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a 50-day simple moving average of $674.82 and a two-hundred day simple moving average of $750.06. The company has a market cap of $87.45 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.38 and a beta of 1.27. KLA Co. has a 52-week low of $542.41 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter last year, the business posted $5.74 EPS. The firm's quarterly revenue was up 18.5% compared to the same quarter last year. On average, sell-side analysts predict that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced 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. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.04%. This is a positive change from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio (DPR) is 31.05%.

About KLA

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.