Meeder Asset Management Inc. Sells 3,900 Shares of KLA Co. (NASDAQ:KLAC)

Meeder Asset Management Inc. reduced its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 97.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91 shares of the semiconductor company's stock after selling 3,900 shares during the period. Meeder Asset Management Inc.'s holdings in KLA were worth $70,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KLAC. Family Firm Inc. bought a new stake in KLA in the second quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in KLA in the third quarter valued at $38,000. 1620 Investment Advisors Inc. bought a new stake in KLA in the second quarter valued at $44,000. LRI Investments LLC bought a new stake in KLA in the first quarter valued at $46,000. Finally, Olistico Wealth LLC bought a new stake in KLA in the second quarter valued at $53,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KLAC. Barclays lowered their price target on KLA from $800.00 to $750.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Argus upped their price target on KLA from $800.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Wells Fargo & Company reduced their price objective on KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on KLA from $800.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and an average price target of $802.90.

KLA Trading Up 0.2 %

NASDAQ:KLAC opened at $616.83 on Thursday. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The business's 50-day moving average price is $717.28 and its two-hundred day moving average price is $762.78. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. 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.

KLA (NASDAQ:KLAC - Get Free Report) last released 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. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm posted $5.74 earnings per share. The company's quarterly revenue was up 18.5% on a year-over-year basis. On average, equities analysts expect that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a $1.70 dividend. This is an increase from KLA's previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, November 18th. KLA's dividend payout ratio is 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.