KLA (NASDAQ:KLAC) Shares Up 3.6% - Here's Why

KLA Co. (NASDAQ:KLAC - Get Free Report)'s share price was up 3.6% during mid-day trading on Thursday . The stock traded as high as $743.95 and last traded at $742.27. Approximately 158,278 shares changed hands during trading, a decline of 86% from the average daily volume of 1,093,723 shares. The stock had previously closed at $716.25.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KLAC. Morgan Stanley cut their price target on shares of KLA from $746.00 to $703.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 5th. Barclays cut their target price on shares of KLA from $750.00 to $700.00 and set an "equal weight" rating on the stock in a report on Friday. Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $750.00 to $850.00 in a report on Thursday, October 31st. StockNews.com cut shares of KLA from a "buy" rating to a "hold" rating in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $806.60.

KLA Stock Performance

The stock's 50-day moving average price is $654.99 and its 200 day moving average price is $726.15. The firm has a market cap of $101.32 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. 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 quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.74 EPS. As a group, equities analysts predict that KLA Co. will post 30.37 EPS for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 0.90%. This is an increase from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA's dividend payout ratio (DPR) is currently 31.05%.

Institutional Investors Weigh In On KLA

A number of institutional investors and hedge funds have recently made changes to their positions in KLAC. 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. Marcum Wealth LLC increased its stake in shares of KLA by 4.1% during the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company's stock worth $297,000 after purchasing an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of KLA by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company's stock valued at $1,110,000 after purchasing an additional 16 shares during the period. Ascent Wealth Partners LLC lifted its stake in KLA by 0.4% in the 3rd quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company's stock valued at $3,459,000 after purchasing an additional 16 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in KLA by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company's stock worth $451,000 after purchasing an additional 16 shares during the period. Institutional investors own 86.65% of the company's stock.

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.